Forbes Magazine names Knoxville 5th most affordable city

Forbes Magazine names Knoxville 5th most affordable city

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KNOXVILLE (WATE) - Forbes Magazine released Tuesday its list of the most affordable cities in the United States. Knoxville made the list at number five.

The magazine looked at America's 100 largest metropolitan areas and factored in housing affordability and the cost of living, including food, utilities, gas, transportation, medical expenses and miscellaneous expenses.

The magazine says about 77 percent of homes in the Knoxville metro area are affordable to families earning the median income of $60,700. While the median family income is similar in Los Angeles, only 20 percent of the homes on the market are affordable to a family with that income.

Forbes also reports non-housing expenses like gas and groceries are 11 percent less in Knoxville than the national average, making the city the lowest priced in terms of daily expenses of all the cities Forbes analyzed.

Buffalo, New York ranked most affordable on the list, followed by Memphis, Tenn; Cincinnati, Ohio; Dayton, Ohio; and Knoxville.


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