El Paso ranked No. 1 lowest cost of living in Forbes article
A Forbes Magazine report ranked El Paso as having the #1 cost of living in the country.
“We’re a safe and vibrant city, and I think that’s what makes us so great,” said Jessica Herrera, the city’s director of economic development.
Not every El Paso resident agreed.
“Families here in El Paso, I know they struggle a lot,” said Mike Chavez, an El Paso resident budgeting for his first son. “You’ve got a lot of people coming down from Juarez. It’s difficult for people down here in El Paso.
The article, published April 6th, evaluated thirteen cities in the United States where residents can comfortably live on less than $60,000 a year. El Paso ranked first on the list. Albuquerque ranked third.
According to the article, residents need only a $50,150 yearly income to live comfortably in the city of El Paso. The city’s median income is $43,322 and the cost of necessities is $25,075.
“It also depends on what part of town you live in,” said Andres Felix, an El Paso resident. “I know there’s some people out there struggling, but there’s some places in El Paso that are really cheap.”
Out of the 13 cities in the list, only El Paso and Las Vegas had property crime rates of less than three percent.
“Well, it is a really safe city,” said Leo Muñoz, a local realtor. “The homebuyer market has been great lately.”
The Forbes contributor added, “With crime rates so low, the question then becomes, how long will affordable living last in these cities? Likely not long.”
