Here Are the Top 10 Most Affordable Midwest Cities to Live In

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As a lifelong Midwesterner, I've always thought it's a pretty great place to live. When I was growing up, cost of living wasn't on my mind much, but now with a family of my own, I appreciate that my living expenses don't take a massive toll on my bank account .

I'm not a city person myself, but if you are, there are plenty of great options in the Midwest. Here are 10 of the most affordable, according to The Motley Fool Ascent's research.

These are the top 10 most affordable cities in the Midwest

Here's a closer look at the top 10 most affordable cities in the Midwest based on their estimated cost of living and median household income:

1. Joliet, Illinois
2. Pierre, South Dakota
3. Minot, North Dakota
4. Minneapolis, Minnesota
5. Bismarck, North Dakota
6. Milwaukee, Wisconsin
7. Omaha, Nebraska
8. St. Paul, Minnesota
9. Madison, Wisconsin
10. Des Moines, Iowa

All of these cities have an estimated income-to-expense ratio of at least one. That means median household income is about the same or higher than the estimated cost of living in those areas. In some places, like Joliet, the difference is substantial. The estimated cost of living is $68,662 per year, while the median household income is $84,971.

There's more than cost of living to consider

The above cities are a good place to begin your search if you're considering a move to the Midwest, but you should consider more than just the cost of living. You also need to think about the available jobs in the area and whether the city has the resources and amenities you want.

Proximity to larger, more expensive cities might also factor into your choice. For example, Joliet is just 35 miles from Chicago, so it's a great choice for those who may want to travel there for shopping or events. On the other hand, a town like Pierre, South Dakota, is a bit more isolated, so it might not be the best choice if you hope to be able to quickly travel to other, bigger metropolitan areas.

Once you've chosen a city, you'll have to find a place to live within it. That can also have a significant effect on your costs. Larger homes typically bring higher homeowners insurance premiums and they can have higher property taxes, as well. So these are all factors you'll need to weigh.

However, choosing a more affordable city may enable you to purchase a larger home than you could if you chose a more expensive area.

Before you settle on any city, it's important to do a test run first. Get a hotel room or vacation rental in the area and stay at least a week. While you're there, check out the stores and local amenities to see what you think. If you find yourself getting bored, it might not be the right place for you.

Even if you feel the city is the right fit, it can take time for it to truly feel like home after a move. Just know that this is normal and give yourself plenty of time to adjust to your new city.

We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy .