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Texas cities dominate top ten list of budget-friendly places to live

03:45 PM CDT on Wednesday, October 15, 2008

KHOU.com staff report

HOUSTON—Want to take shelter from the current economic storm?  We’ve got good news: You may not have to move a muscle.

Texas cities dominated Forbes.com’s top ten list of places where your money goes farthest in the U.S.

Topping the list were Austin and San Antonio.  Houston and Dallas also made the cut at Nos. 4 and 7, respectively.

“Texas, as a whole, is one of the few economies that’s performing extremely well because of the energy and technology sectors,” Andrew Gledhill, an economist at Moody’s Economy.com, told Forbes.com.

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Combine that with a growing manufacturing sector and affordable housing, and you’ve got yourself a bargain – relatively speaking.

So just how affordable is life in the Lone Star State?

Forbes.com gives this example: The median cost of a home in Dallas is about $150,000 – four times cheaper than a home in Los Angeles, the least-affordable city on the list.

Experts say favorable building regulations, growing populations and available land have helped keep housing affordable in our area.

Daniel McCue, a research analyst at Harvard’s Joint Center for Housing Studies told Forbes.com that another reason housing in the Bayou City has stayed affordable is because it “grew at a more controlled pace and didn’t go overboard like in Phoenix or Las Vegas.”

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