Forbes names Oklahoma City as nation's most affordable

"State capitals and university towns have vibrancy because of their job base, the stability of jobs and cultural diversification," said James Gaines, a research economist at the Real Estate Center at Texas A&M University.

Continuing praise

The ranking was the latest in a string of kudos for Oklahoma City. In October, Oklahoma City was named a Top 25 Performing City by the Milken Institute, No. 7 Best City for Income Growth by Portfolio.com, a Top 5 Fastest Growing City by Forbes and a Top 10 State for Doing Business by Area Development Magazine.

"In times like these, value is key to everything we do as a chamber," said Roy Williams, president and CEO of the Greater Oklahoma City Chamber. "From attracting new business, retaining and fostering growth with our current companies to attracting conventions and visitors, the number one factor on everyone's mind is value. Affordability isn't always about being the cheapest, it is also about the quality you get for your dollar."

The Boeing Co. recently announced plans to move 550 high-paying engineering jobs here. The company cited low costs of living and doing business and economic development incentives in the decision to move the jobs from Long Beach, Calif.