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Cape Girardeau-Jackson ranked as one of least expensive places to live

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CAPE GIRARDEAU, MO (KFVS) -

If you like to save money, you might not have to go too far.

The Cape Girardeau-Jackson area came in 5th in a list of the top 8 least expensive cities to live.

"While our cost of living is low, our standard of living is high," said Tim Arbeiter, the Cape Girardeau Area Chamber of Commerce Vice President.

The website WallStCheatSheet.com ranked their top eight least expensive cities to live in the U.S. The Cape Girardeau-Jackson area came in 5th.

"It’s a great place to live for us to attract businesses, and another strong thing for our businesses that are currently here," said Arbeiter.

Arbeiter said this type of ranking helps them recruit businesses to the area.

"They're looking for the best strategic location for them in the country, we believe we provide that on many fronts," said Arbeiter.

Tom Meyer with Exit Realty-Thomas Meyer Associates said he’s not surprised by the ranking. He said the area has a stable economy and thinks that helps.

"We have a very stable economy in fact even through the years when we see a boom and bust, we have a very little ripple effect,” said Meyer.

"We are a regional hub, we have that diversified economy, we have strong retail, strong healthcare, strong education, strong government presence, and as well we have a great agriculture community that surrounds us, and with our manufacturing base that surrounds us too," said Arbeiter.

The website looked at a number of factors. The unemployment rate in the Cape-Jackson area is 5.9 percent compared to a national rate of 7.1 percent.

The average prices in the area are about 20 percent below national price averages.

The overall cost of living in Cape and Jackson is 92 percent of the national cost of living, while the median home cost is about 80 percent of national prices.

Finally, local property tax is well below the national average.

"Everything is very attractive here but for us living here we just don't realize that," said Meyer.

"People that live here are constantly always analyzing as consumers are they getting the best price, the most house for their value, but looking at the numbers via the nation, we are," said Arbeiter.

On the list is also Jonesboro, Arkansas and Jefferson City, Missouri.

Here’s the top 8 least expensive cities to live in:

1. Dalton, GA

2. Michigan City-La Porte, IN

3. Sandusky, OH

4. Jonesboro, AR

5. Cape Girardeau-Jackson, MO

6. Danville, IL

7. Morristown, TN

8. Jefferson City, MO

You can find the website here.

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