McAllen, Texas, has been ranked as the city with the lowest cost of living in the U.S., boasting a regional price parity of 86.92%, with housing costs significantly contributing to its affordability. The median home price is $275,000, and the area has seen a 41% increase in housing supply year over year, driven by investment and demand. Following McAllen, Wichita, Kansas, ranks second with a regional price parity of 89.16% and a median home price of $292,700.
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