Omaha Public Radio News
Thu January 13, 2011
Omaha tops Forbes list of America's most affordable cities
By Katie Knapp Schubert
Omaha, NE – Omaha tops Forbes Magazine's list of the nation's most affordable cities.
Forbes chose the most affordable cities based on the asking price of homes for sale, salaries of workers, cost of living, and unemployment rates. Omaha was chosen, according to Forbes, because of the city's inexpensive real estate, low cost of living, and Nebraska's low unemployment rate.
David Brown, CEO of the Greater Omaha Chamber of Commerce, says the ranking makes Omaha attractive to business developers and potential new residents. "There's no doubt in any of our minds that when companies start looking at places to invest money or when individuals start thinking about places that they ought to be trying to live or have a career that they look at studies like this to try and find out what cities they ought to be considering," Brown says.
Brown credits the Forbes ranking to Omaha's economic diversity and stable housing market.
Following Omaha on the top 5 list are Buffalo, Detroit, Indianapolis, and Cincinnati.