Texas City Just Ranked the Most Affordable Place to Live in America

(KNUE-FM) It seems that everything we read and many people we speak with are discussing the pinch we're feeling when paying our bills or just going to the grocery store. Suppose you're in a place where you're starting to ponder the best way to navigate this situation or are even considering moving. In that case, you might be surprised to hear that, according to Travel & Leisure, the most affordable place to live in the entire country is here in Texas.

The Most Affordable City in the U.S. Is in Texas

The study shared by Travel & Leisure was based on data from U.S. News & World Report. It revealed that Laredo took the top spot on the ranking, which was based on the cost of living and overall affordability. They found that the average annual cost of living in Laredo, including groceries, healthcare, transportation, housing, and other expenses, is approximately $36,000.

How They Calculated the Results

Granted, that's still a significant amount, but it is still quite a bit lower than what it would cost to live in many large cities across the U.S. It's also overall good news that the Lone Star State is a great place to be.

READ MORE: 3 Texas Gems on ‘Most Beautiful Places in U.S.’ List

How did they calculate the results? The popular "50/30/20" rule breaks it down as follows: 50% for essential living expenses, 30% for discretionary items, and 20% for savings. Based on that rule, analysts found you'd need to earn approximately $72,000 annually to live comfortably in Laredo. Additionally, Laredo has experienced steady job growth and lower energy costs compared to other areas, and its strong community has been shown to offset higher national prices in other categories.

What Makes Laredo More Affordable

What are some of the factors that make Laredo more affordable than many other places? They enjoy lower housing costs, a slower pace of traffic, shorter commutes, and a community-based culture that offers more cost-effective entertainment options for families. That means not only are people there saving money, but they're also less stressed — which is a huge benefit.

Another Reason Texas Still Feels Like the Best Place to Be for Many

But here's the thing: Sure, Laredo tops that list. But Texas had another city in the top five. When we're talking about the entire country, that's pretty huge. Sure, our beloved East Texas towns didn't show up on that Travel & Leisure list, but you know what? We can take pride in knowing that our communities share many of those same benefits, which is why so many of us love that East Texas is our home. I'm staying right where I am.