March 12, 2014
StaffMemphis Business Journal
Memphis has been ranked the second most affordable city in the United States, according to Forbes’ Most Affordable Cities ranking.
The list is based on data from the 100 largest metropolitan statistical areas and metropolitan divisions with populations of 600,000 or more. It looks at housing affordability, cost of living and average home prices in relation to residents making average income for the area.
Buffalo, N.Y. was the most affordable city, closely followed by Memphis. Knoxville was the only other Tennessee city in the top 20.
Honolulu and New York City were tied for the least affordable cities in the U.S. The complete list can be seen here.