Kiplinger: Fort Smith least expensive city in U.S.

Kiplinger says the Fort Smith area has the lowest cost of living in the U.S., based on measures produced by the American Council for Community and Economic Research.

The council produces a Cost of Living Index that measures relative price levels for housing, utilities, transportation, grocery items, health care and miscellaneous goods and services. The index does not include taxes.

A composite score of 100 reflects the national average, meaning scores lower than 100 reflect a lower-than average cost of living, and scores higher than 100 reflect a higher-than average cost of living. Kiplinger gathered median household income and average home prices from the Toronto-based Martin Prosperity Institute. Also, Kiplinger sampled all U.S. cities with metropolitan area populations of at least 75,000.

“Arkansas is a low-cost, low-tax state, and its second largest city, Fort Smith, is no exception,” Kiplinger noted in the report. “Housing, grocery and transportation costs here are well below the national average. And compared with the most-expensive city on our list, New York, everything in Fort Smith is a bargain.”

Following are the top 5 least expensive cities.

Fort Smith
Cost of Living Index: 85.2
Metro Population: 288,595
Median Household Income: $35,726
Average Home Price: $223,885

Pueblo, Colo.
Cost of Living Index: 85.9
Metro Population: 154,371
Median Household Income: $39,570
Average Home Price: $197,037

Harlingen, Texas
Cost of Living Index: 86 .1
Brownsville/Harlingen Metro Population: 385,274
Median Household Income: $28,026
Average Home Price: $221,445

McAllen, Texas
Cost of Living Index: 86.5
McAllen/Edinburg Metro Population: 706,039
Median Household Income: $28,328
Average Home Price: $213,383

Johnson City, Tenn.
Cost of Living Index: 86.6
Metro Population: 193,457
Median Household Income: $36,853
Average Home Price: $217,986