An NC city is among Top 10 ‘best affordable’ places to live in the US in 2024, report says

Four North Carolina cities were recently named among the top 25 places to live in the U.S this year according to U.S. News & World Report. Now, another Tar Heel destination is being boasted as one of the cheapest: Hickory. For the second year in a row, the North Carolina city made the list of best affordable places to live in America, ranking at No. 6.

• Best Places 2024 Overall Rank: 26

• Population: 58,242

• Median Household Income: $63,531

• Income Spent on Living Expenses: 22.48%

“Nestled in the rolling mountains of Appalachia, Hickory offers a small-town atmosphere that is seeing growth from larger metro areas within a couple of hours’ drive, including Charlotte and Asheville. With a bustling arts district, endless mountain ranges to roam and a notable stock car speedway, Hickory is home to many retirees and families, and is quickly becoming a destination for young professionals,” the report says.

“The city’s population remains under 60,000, giving residents a tight-knit community with the amenities of a bustling city but with attractive costs: With a median home price of $213,934 and a median monthly rent payment of $890, Hickory is ranked No. 4 for housing affordability.”

Though several North Carolina cities — Charlotte, Raleigh, Asheville and Greensboro — were among the top 25 best places to live in the U.S. in a separate U.S. News & World Report, Hickory was the only area in the state ranked as one of the cheapest. Hickory ranked No. 1 on the Best Affordable Places to Live in 2023.

Looking at the proportion of the median annual household income that goes toward the average cost to own or rent a home, like the cost of utilities, taxes and price parity, here are the other cities across the country making the list of the best affordable places to live:

Best Affordable Places to Live in the U.S.

1. Fort Wayne, IN

2. Huntsville, AL

3. Wichita, KS

4. Springfield, MO

5. Davenport, IA

6. Hickory, NC

7. Montgomery, AL

8. Green Bay, WI

9. Little Rock, AR

10. Oklahoma City, OK

11. Lexington, KY

12. Lafayette, LA

13. Omaha, NE

14. Brownsville, TX

15. Lincoln, NE

16. Peoria, IL

17. Louisville, KY

18. South End, IN

19. Toledo, OH

20. Rockford, IL

21. Indianapolis, IN

22. McAllen, TX

23. Kansas City, MO

24. Tulsa, OK

25. Dayton, OH

You can find the full report of the 25 best affordable places to live in the U.S. online at realestate.usnews.com.

This story was originally published July 18, 2024 at 1:44 PM.

Chyna Blackmon

The Charlotte Observer

Chyna Blackmon was a service journalism reporter for The Charlotte Observer. A native of the Carolinas, she grew up in Columbia, SC, and graduated from Queens University of Charlotte. She’s also worked in local television news in Charlotte, NC, and Richmond, VA. Support my work with a digital subscription