A wise sage once said:
“She works hard for the money…”
And these places in Idaho definitely treat her right.
You see, these are the cities and places in Idaho where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the Gem State, then the cost of living should play a role in the decision.
So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 32 largest places in Idaho, we were left with this set of the best value for your money.
So where is the cheapest place to live in Idaho? That would be Payette.
So listen up Rexburg (the most expensive place in Idaho) as we explain how we created this ranking. You could learn some things from the rest of the state.
And if you already knew these places were cheap, check out some more reading about Idaho and the cheapest places in the country:
The 10 Cheapest Places To Live In Idaho For 2019
Payette is a city in and the county seat of Payette County, Idaho, United States. The population was 7,433 at the 2010 census. It is part of the Ontario, ORID Micropolitan Statistical Area.
The median income in Payette comes in at $50,300 and the median home value is $97,300 for 2019.
Blackfoot is a city in Bingham County, Idaho, United States. The population was 11,899 at the 2010 census. The city is the county seat of Bingham County. Blackfoot boasts the largest potato industry in any one area, and is known as the “Potato Capital of the World.” It is the site of the Idaho Potato Museum, and the home of the world’s largest baked potato and potato chip. Blackfoot is also the location of the Eastern Idaho State Fair, which operates between Labor Day weekend and the following weekend.
The median income in Blackfoot comes in at $43,007 and the median home value is $122,800 for 2019.
The median income in Chubbuck comes in at $56,966 and the median home value is $156,400 for 2019.
The median income in Burley comes in at $37,612 and the median home value is $104,100 for 2019.
The median income in Mountain Home comes in at $48,625 and the median home value is $138,800 for 2019.
Caldwell is a city in and the county seat of Canyon County, Idaho, United States. The population was 46,237 at the 2010 census.
The median income in Caldwell comes in at $43,269 and the median home value is $121,400 for 2019.
Idaho Falls is a city in and the county seat of Bonneville County, Idaho, United States, and is the largest city in Eastern Idaho. As of the 2010 census, the population of Idaho Falls was 56,813, with a metro population of 136,108. As of 2016, the population was estimated at 60,211.
The median income in Idaho Falls comes in at $49,098 and the median home value is $145,800 for 2019.
Ammon is an edge city of Idaho Falls in Bonneville County, Idaho, United States. As of the 2010 US Census, the population of Ammon was 13,816.
The median income in Ammon comes in at $62,336 and the median home value is $177,300 for 2019.
Rupert is the county seat and largest city of Minidoka County, Idaho, United States. It is part of the Burley Micropolitan Statistical Area. The population was 5,554 at the 2010 census.
The median income in Rupert comes in at $35,510 and the median home value is $93,700 for 2019.
Pocatello ) is the county seat and largest city of Bannock County, with a small portion on the Fort Hall Indian Reservation in neighboring Power County, in the southeastern part of the U.S. state of Idaho. It is the principal city of the Pocatello metropolitan area, which encompasses all of Bannock county. As of the 2010 census the population of Pocatello was 54,255.
The median income in Pocatello comes in at $42,979 and the median home value is $138,000 for 2019.
How We Determined The Most Affordable Places To Live In The Gem State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Idaho to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 32 places in Idaho that have more than 5,000 people.
The place with the lowest cost of living in Idaho according to the data is Payette.
There You Have It Mr. Or Mrs. Idaho Cheapskate
If you’re looking at the cost of living numbers in Idaho, this is an accurate list of the most affordable places to live in idaho for 2019.
Here’s a look at the most expensive cities in Idaho according to the data:
For more Idaho reading, check out: