Indianapolis Named Most Affordable U.S. City for Single Adults
A new report from SmartAsset suggests that Indianapolis is the most affordable city for single adults to live comfortably.
According to the study, a single person in Indianapolis needs to earn $85,197 annually to cover basic needs, wants, and savings. This makes it the most budget-friendly major city in the U.S. for individuals. The city barely edged out Oklahoma City.
While Indianapolis ranks well for individuals, it is not as affordable for families. A household with two working parents and two children would need an estimated $222,700 per year to live comfortably. That places Indianapolis at No. 28 on the affordability list for families.
In contrast, Memphis, Tennessee, ranked as the most affordable city for a family, requiring just under $198,400 annually. Other budget-friendly cities for families include Greensboro, North Carolina, and San Antonio, Texas.
The study used MIT’s Living Wage Calculator and applied the 50/30/20 budgeting rule, which divides income into necessities (50%), wants (30%), and savings or debt payments (20%).
| Cheapest cities for individuals | Cheapest cities for 2 adults with 2 children |
| Indianapolis, Indiana ($85,197) | Memphis, Tennessee ($198,349) |
| Oklahoma City, Oklahoma ($85,446) | Greensboro, North Carolina ($198,515) |
| Tulsa, Oklahoma ($85,571) | San Antonio, Texas ($199,181) |
| New Orleans, Louisiana ($86,445) | Baton Rouge, Louisiana ($199,846) |
| Albuquerque, New Mexico ($86,611) | Winston-Salem, North Carolina ($201,011) |
| San Antonio, Texas ($86,694) | New Orleans, Louisiana ($201,178) |
| Winston-Salem, North Carolina, and Tucson, Arizona ($86,736) | Huntsville, Alabama ($205,421) |
| Spokane, Washington ($87,818) | Houston, Texas ($206,669) |
| Baltimore, Maryland ($87,984) | Orlando, Florida ($207,501) |
| Most expensive cities for individuals | Most expensive cities for 2 adults with 2 children |
| San Jose, California ($147,430) | San Jose, California ($371,571) |
| New York, New York ($136,656) | San Francisco, California ($366,829) |
| Anaheim, Irvine, and Santa Ana, California ($133,952) | Arlington, Virginia ($355,430) |
| Boston, Massachusetts ($133,578) | Boston, Massachusetts ($352,102) |
| Seattle, Washington ($128,211) | Oakland and Fremont, California ($343,949) |
| San Diego and Chula Vista, California ($127,754) | Seattle, Washington ($327,475) |
| Arlington, Virginia ($127,046) | New York, New York ($306,093) |
| Honolulu, Hawaii ($124,883) | Washington, District of Columbia ($305,427) |
| Oakland and Fremont, California ($124,592) | Honolulu, Hawaii ($303,098) |
| San Francisco, California ($121,930) | Anaheim, Irvine, and Santa Ana, California ($301,600) |
