Not only do Southern cities offer affordable cost of living, but many have enjoyed significant growth and economic development in recent years. A study by GOBankingRates named 12 cities that boast high salaries and low cost of living, the majority of which are in the south. Forbes contributor Andrew DePietro writes:
In Phoenix, Dallas, Tampa, and the No. 1 city, Oklahoma City, even after accounting for annual cost of necessities, you can expect to have more than $50,000 left over if you're earning the average income. In Charlotte and Raleigh, that left over amount exceeds $60,000.
While this trend continues, Southern cities present opportunities to invest, DePietro notes. Oklahoma City, Okla.; Phoenix, Ariz.; Houston, Texas; and Charlotte, N.C. were named some of the best cities to own a condo rental property and start a small business in 2018. However, DePietro comments that gentrification and wealth inequality are latent threats to some Southern cities experiencing wage growth and economic expansion.
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