CHICAGO (WGN) — While the cost of nearly everything seems to be on the rise, residents of some U.S. cities may find themselves pinching their pennies more than others. Good Hire, a background checking company, analyzed data from 155 cities to find the best for affordability in 2022.
The rankings aren’t all about real estate prices – Good Hire evaluated seven factors to create its list, assigning each a certain weight to the city’s overall score.
Those factors and their weights are:
- Wage Growth (20% weight)
- Unemployment Rate (10% weight)
- Job Growth (20% weight)
- Percentage of Jobs Open (10% weight)
- Renter Affordability (15% weight)
- Homeowner Affordability (15% weight)
- Real Per Capita Personal Income (10% weight)
To no major surprise, Los Angeles was found to be the least affordable. Two other California cities – Bakersfield and Modesto – found themselves among the top 10 least affordable cities in the U.S. Three Texas cities made the list as well.
Here are the top 10 least affordable cities:
- Los Angeles
- Hartford, Conn.
- Corpus Christi, Texas
- Bakersfield, Calif.
- Shreveport, La.
- Modesto, Calif.
- El Paso, Texas
- New York City
- Rockford, Ill.
- McAllen, Texas
On the other end of the list were cities primarily in the West and Southeast. Sioux Falls, South Dakota, topped out the list while Utah had the largest representation with three cities found to be among the most affordable.
Here are the top 10 most affordable cities:
- Sioux Falls, SD
- Reno, Nev.
- Provo, Utah
- Madison, Wis.
- Huntsville, Ala.
- Charleston, SC
- Fayetteville, Ark.
- Ogden, Utah
- Salt Lake City
- Spartanburg, SC
To view the full list, click here.