Latest news with #affordablecities
Yahoo
a day ago
- Business
- Yahoo
3 Affordable Cities for Young Entrepreneurs
Young entrepreneurs should bring their ambition, talent and work ethic to affordable cities with booming economies, innovative industries, a talented labor pool and sprawling professional networks. There are many to choose from, but an exceptional trio of cities stands out. Read More: Consider This: The list includes only cities with average Zillow home values lower than the national average, which the platform cites as $367,711 as of Jun. 10, and below-average living costs, as calculated by AreaVibes. Each is also business-friendly, with favorable regulations, modest tax burdens and large influxes of young founders flocking to its plentiful resources, strategic infrastructure and strong livability ratings. Cost of living: 6% below the national average Average home value: $249,725 In February, Silicon Prairie News reported that a co-warehousing startup called Elevator, founded in Omaha in 2021, was expanding into Kansas City. This up-and-coming company is hardly alone. Kansas City is a major hub in the so-called Silicon Prairie, a network of affordable Midwest metros with booming tech sectors, diverse economies and fast-growing, innovative companies. According to corporate campus provider Aspira, which leases 3.8 million square feet of Class-A office space in K.C. Metro, Kansas City: Is home to more than 1 million non-farm employees. Ranks No. 3 in tech job growth behind only San Francisco and Austin. Is a trendy city that skews young. For You: Cost of living: 1% below the national average Average home value: $257,547 According to the city's Economic Development Authority (EDA), St. Cloud has been known for more than a decade as Minnesota's Silicon Prairie, thanks to its vibrant tech sector, diverse economy, reliable public transit, major transportation centers and robust digital infrastructure. The downtown area has more than a dozen high-tech companies in a five-block radius, and 100% of the city lives in an area with at least three broadband carriers. Its entrepreneurial ecosystem includes initiatives like StageWorks, which provides pop-up storefront spaces, co-working memberships and flexible and affordable office rentals. The Greater St. Cloud Development Corporation provides resources like free business coaching, resource matchmaking events and pitch competitions. Cost of living: 14% below the national average Average home value: $203,967 Founders who prefer life in a small city of roughly 40,000 people might consider Florence, which has exceptionally-low living and housing costs but a wealth of resources for entrepreneurs, including: The Shoals Business Incubator: Maintains a 90% success rate in incubating more than 300 businesses over 30 years. Alabama Small Business Development Center at University of North Alabama, Florence: The University of North Alabama's SBDC has offered free training and advising services to existing and aspiring small business owners since 1980. Remote Shoals: The program offers remote workers $10,000 to move to the Shoals region, which includes Florence. The Shoals Economic Development Authority: Includes a variety of tax incentives and grants, financing and workforce development programs among its many business-assistance offerings. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 Clever Ways To Save Money That Actually Work in 2025 10 Used Cars That Will Last Longer Than an Average New Vehicle This article originally appeared on 3 Affordable Cities for Young Entrepreneurs
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Travel + Leisure
13-05-2025
- Business
- Travel + Leisure
This Midwestern City Was Just Named the No. 1 Place to Live for Families Looking for Affordability and Safety
The economy is, shall we say, pretty bonkers right now. ( That's the correct scientific term, right? ) One day we're way up, another we're down, and it's hard to tell when it's time to splurge or when it's time to zip that wallet firmly shut—and this goes double for anyone with kids. However, some places around the U.S. offer families a bit more stability when it comes to their bottom line, and GOBakingRates knows exactly where those rock-solid destinations are. GOBakingRates released its list of the 50 safest and most affordable cities for a family of four. Coming in at No. 1 is Fishers, Indiana. To find the best spots, the team started with a seed list of cities with at least a 100,000-person population. Then, for each city, it looked at the percentage of the population that is age 65 and over, the total number of households, and household median income, all sourced from the U.S. Census American Community Survey. It then dug into each city's number of property and violent crimes, which it sourced from the FBI's 2023 Crime in the U.S. report, and calculated the property crime rate per 1,000 residents and the violent crime rate per 1,000 residents. Next, it evaluated the cost of living indexes, sourced from Sperlings BestPlaces, including groceries, healthcare, housing, utilities, transportation, and miscellaneous expenses. Finally, it used the cost of living indexes and the national average expenditure costs for a family of four, sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for a married couple with children (oldest child 6 to 17), and calculated the average expenditure cost for each location. It also dug into the average single-family home value, the average mortgage cost, and the average total monthly and annual cost of living to find which places offer that coveted safety and value. The town, just north of Indianapolis, won out thanks to its relatively affordable pricing, with the average monthly mortgage going for $2,610 and the average monthly expenditures reaching just $2,800. It also has a low crime rate, with .99 violent crimes reported for every 1,000 people. The town also scored an impressive 82 Livability score by AreaVibes, which gave it a "B" rating for its cost of living, and an "A+" for its amenities, employment, housing, and, rather important for families, it scored an "A+" for schools. The only place it falls short on AreaVibes rankings is with its average commute, which earned it an "F." Other top spots that made the list include Texas destinations like Sugar Land, which came in at No. 2 and League City at No. 3. Those are followed by Naperville, Illinois; Carmel, Indiana; and three other Texas locations: Allen, McKinney, and Frisco. Want to see who else made the list? See the full rankings at
