10 Best Places To Live If You’re Trying To Save (And The 10 Worst)

By Morgan Quinn
GOBankingRates.com.

The city you choose to live in can have a major impact on your finances. Large cities like San Francisco, New York and Los Angeles have become unaffordable for many residents and some have chosen to relocate in search of economic stability, homeownership and a less-expensive lifestyle.

So just where are the best places to live if you want to save some cash, and which cities are the worst for your wallet?

GOBankingRates conducted a survey of the best and worst cities for saving money, based off factors that affect your finances most: sales tax, median home and condo value, median monthly rent, median income, unemployment rates and gas prices.

If you are thinking about making a move to improve your financial future, check out our list of the top and bottom 10 cities for saving money.

PORTLAND, ORE.
_Population: 609,456
_Sales tax: 0 percent
_Median home/condo value: $268,800
_Median monthly rent: $905
_Median Income: $52,158
_Unemployment: 5.9 percent
_Gas: $2.13 a gallon
With relatively low rents, an average unemployment rate and no sales tax, the hipster capital of the United States tops our list of best places to save money. Residents also enjoy bike-friendly roads, easy access to the great outdoors and a vibrant arts scene. Just make sure you don’t spend all your money on the 83 breweries in the Portland metro area.

ANCHORAGE, ALASKA
_Population: 300,950
_Sales Tax: 0 percent
_Median home/condo value: $281,000
_Median monthly rent: $1,184
_Median Income: $72,575
_Unemployment: 5.6 percent
_Gas: $2.53 a gallon
More than half of all Alaskans live in Anchorage and it’s almost the size of Delaware, but this city feels like a small town _ it’s not uncommon to see businessmen waiting for moose to cross the streets. Rents are higher than some of the other cities on our list, but the median income is impressive, the median home price is relatively low and there is no sales tax. Anchorage is also young _ the city was founded in 1915 and the average resident is just 32 years old, which makes it a great place to save some money and get ahead.

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