This Michigan City Has the Lowest Cost-of-Living in America

A new survey has determined that the city with the lowest cost of living in the entire United States is right here in Michigan.

WalletHub recently did a deep-dive into data to determine America's "Best & Worst Cities for First-Time Home Buyers". The survey looked at 300 cities across the United States, comparing their affordability and quality of life, as well as their real estate markets.

SEE ALSO: SHOCKER! This Is Michigan's Least Affordable Small City

One of the metrics measured to determine each city's affordability was its "cost of living", which BankRate refers to as "the overall amount of money required to cover necessary expenses to maintain a certain lifestyle standard in a particular place, including basics like housing, food, transportation and more."

Get our free mobile app

According to WalletHub's data, there's no place in America with a lower cost of living than Flint, Michigan.

Why Is the Cost of Living in Flint So Low?

WalletHub analyst Cassandra Happe says that there are several factors that result in Flint having a comparatively low cost of living.

"The city's affordability stems largely from its lower housing costs and consumer prices, which are significantly below the national average," says Happe.

She adds that the numbers reflect broader economic challenges facing Flint.

"High poverty rates and limited job opportunities underscore Flint's economic distress. The affordability, while beneficial in terms of cost savings for residents, also indicates the economic hurdles the city faces in fostering growth and attracting investments," Happe says.

She adds that Flint's position as the most nation's most affordable city "highlights both the immediate benefits of lower living costs and the pressing need for economic revitalization to address the underlying issues contributing to this affordability."

A couple of Ohio cities - Toledo and Akron - were tied for the second-lowest cost of living in America according to the WalletHub study, along with Laredo, Texas.