Forbes names Oklahoma City as nation's most affordable

Noting low costs of living and good jobs, Forbes named Oklahoma City America's Most Affordable City.
BY SUSAN SIMPSON Modified: November 3, 2010 at 1:59 pm •  Published: November 3, 2010


photo - BRICKTOWN CANAL, RESTAURANT, RESTAURANTS, HARKINS THEATER, MOVIE THEATER: Bricktown scenes in Oklahoma City, Oklahoma, taken Thursday, July 14, 2005. by Jim Beckel/The Oklahoman ORG XMIT: KOD
BRICKTOWN CANAL, RESTAURANT, RESTAURANTS, HARKINS THEATER, MOVIE THEATER: Bricktown scenes in Oklahoma City, Oklahoma, taken Thursday, July 14, 2005. by Jim Beckel/The Oklahoman ORG XMIT: KOD

At the height of the Great Recession, Forbes.com said Oklahoma City was the most recession-proof city in the country. Two and a half years later, the magazine has given the city another top ranking.

Noting low costs of living and good jobs, Forbes named Oklahoma City as America's Most Affordable City.

The magazine also noted Oklahoma City's friendly residents and an unemployment rate well below the national average, 6.3 percent compared to 9.5 percent.

"We searched for cities that had a balance of cheap living and economic prosperity — places with solid job markets, but where costs aren't prohibitive," magazine editors said. "In these cities, costs have stayed down, but residents have held onto steady incomes and decent jobs, making them a true bargain."

Forbes looked at all metropolitan statistical areas with populations of at least 100,000. They were ranked on the cost of a basket of goods and services, including groceries, health care and transportation, as of the second quarter of 2010.

The magazine also measured the monthly cost of housing as a percentage of household income.

The average sale price of an Oklahoma City-area home in September was $158,755, up 6.7 percent from September 2009, and the median price was $135,000, up 4.8 percent, according to the Oklahoma City Metro Association of Realtors.

The next four spots on the Forbes list went to Pittsburgh; Buffalo, N.Y.; Rochester, N.Y.; and Nashville, Tenn. The top 10 also includes three Texas cities: San Antonio, Houston and Austin, along with Louisville, Ky., and Birmingham, Ala.

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