30 Aug ABQ Ranked in Top 10 for Affordable Cities and Cities to Build Wealth
Albuquerque was recently ranked America’s ninth most affordable city by Move.org. The comparison of 75 major U.S. cities considered the following factors:
- Rent for a 1-bedroom apartment
- Utilities (electricity, water, etc.)
- Food (groceries plus occasional restaurant meals
Rounding out the top ten were El Paso, TX; Lincoln, NE; Toldeo, OH; Wichita, KS; Louisville, KY; Tulsa, OK; Memphis, TN; Lexington, KY; Albuquerque, NM; and Mesa, AZ.
The top five most expensive cities were San Francisco, CA; New York, NY; San Jose, CA; Oakland, CA; and Boston, MA.
Significantly, Albuquerque’s low cost of living contributes to its also being ranked one of the top five cities in which to build wealth by pay experts Salary.com. This ranking, “based on census data and Salary.com analysis, focused on local salaries, the cost of living, and unemployment. Secondary factors, such as diversity of the local economy, residents’ education, percentage of population below poverty level, and commute time were also measured,” according to CNN Money.
Learn about opportunities to buy a business in ABQ here.
(Infographic by Albuquerque Economic Development)