A new report released by GoodHire analyzed 155 cities using variety of data, with results showing several cities along the Wasatch Front among the top 10 most affordable cities to live and work in the U.S.
The cities analyzed had more than 150,000 people currently in the labor force.
To provide answers, data scientists at GoodHire crunched the numbers using data sourced from the U.S. Census Bureau, the Bureau of Labor Statistics, the Bureau of Economic Analysis and the U.S. Department of Commerce.
“We dug into seven key factors for cities in the US with a labor force of more than 150,000 people. Each of the following seven key factors were weighted appropriately and scaled,” said Sara Korolevich, managing editor at http://GoodHire.com. “Our data scientists then calculated the weighted sum of the factors to obtain the final score and create a list of the most affordable places to live and work in America in 2022.”
The factored areas include:
- Wage Growth (20% weight)
- Unemployment Rate (10% weight)
- Job Growth (20% weight)
- Percentage of Jobs Open (10% weight)
- Renter Affordability (15% weight)
- Homeowner Affordability (15% weight)
- Real Per Capita Personal Income (10% weight)
“We combined the factors of job opportunities, earning potential, and housing affordability, and that allowed us to uncover the most affordable places across the country. Now, let’s take a look at the major factors individually,” Korolevich said.
GoodHire claims that if you’re moving and looking for a city with endless job openings and career opportunities, one should look no further than the top five employment score leaders, including Reno, Nevada; Spartanburg, South Carolina; Savannah, Georgia; Provo; and Boise, Idaho. The other cities in the top 10 were Naples, Florida; Ogden; Salt Lake City; Phoenix, Arizona; and Palm Bay, Florida.
Data showed that Provo ranked as the fourth best job market, but it, nor the other Utah cities, made the top 10 most affordable housing list.
The full report can be found at http://www.goodhire.com/resources/articles/americas-most-affordable-places.