The 25 US cities with the lowest cost of living

• It can be extremely expensive to live in big cities like New York, San Francisco, or Los Angeles.
• However, living in other cities, like Indianapolis, South Bend, Indiana, and Toledo, Ohio, can be much more affordable. 
• Here are the 25 US cities with the lowest cost of living.
• Visit Business Insider's homepage for more stories.

Big coastal cities, such as New York and San Francisco, feature notoriously high rent prices and an expensive cost of living. But in their smaller Midwestern counterparts, like Indianapolis and Toledo, Ohio, things prove much, much cheaper.

Read more: San Francisco renters are dishing out $1,200 a month for bunk beds in co-living buildings to avoid the city's high rents — here's what they get for their money

And while a lower cost of living doesn't always equate to a higher quality of life, it can make a difference for those looking to stretch their paycheck.

Niche, a company that researches and compiles information on places to live, recently released its list of the US cities with the lowest cost of living. The ranking focused primarily on the ratio of home values to income, median property taxes, median home values, median rent, and ratios of monthly housing cost to income for each place. It also took the price of gas, the price of groceries, and the ratio of the median rent to income into consideration. Read a full breakdown of the methodology here.

The top 25 cities all fell within two regions: the Midwest and the South, with a city in Indiana earning the top spot. Check out the rest of the list below.

Emmie Martin contributed to an earlier version of this article.

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25. Palm Bay, Florida

Population: 107,802

Median rent: $991

Median home value: $119,200

Percentage of people who rent their home: 29%

Percentage of people who own their home: 71%

24. Green Bay, Wisconsin

Population: 104,796

Median rent: $682

Median home value: $127,300

Percentage of people who rent their home: 44%

Percentage of people who own their home: 56%

23. Rochester, Minnesota

Population: 112,683

Median rent: $891

Median home value: $176,100

Percentage of people who rent their home: 31%

Percentage of people who own their home: 69%

22. McAllen, Texas

Population: 139,838

Median rent: $758

Median home value: $120,500

Percentage of people who rent their home: 40%

Percentage of people who own their home: 60%

21. Lansing, Michigan

Population: 115,222

Median rent: $791

Median home value: $77,100

Percentage of people who rent their home: 50%

Percentage of people who own their home: 50%

20. Springfield, Illinois

Population: 116,313

Median rent: $765

Median home value: $125,600

Percentage of people who rent their home: 38%

Percentage of people who own their home: 62%

19. Davenport, Iowa

Population: 102,268

Median rent: $733

Median home value: $124,300

Percentage of people who rent their home: 38%

Percentage of people who own their home: 62%

18. Kansas City, Kansas

Population: 151,042

Median rent: $820

Median home value: $89,500

Percentage of people who rent their home: 44%

Percentage of people who own their home: 56%

17. Odessa, Texas

Population: 115,930

Median rent: $996

Median home value: $136,300

Percentage of people who rent their home: 39%

Percentage of people who own their home: 61%

16. Cleveland, Ohio

Population: 388,812

Median rent: $678

Median home value: $67,600

Percentage of people who rent their home: 58%

Percentage of people who own their home: 42%

15. Cedar Rapids, Iowa

Population: 130,330

Median rent: $729

Median home value: $138,500

Percentage of people who rent their home: 30%

Percentage of people who own their home: 70%

14. Amarillo, Texas

Population: 197,823

Median rent: $814

Median home value: $123,200

Percentage of people who rent their home: 39%

Percentage of people who own their home: 61%

13. Abilene, Texas

Population: 122,762

Median rent: $846

Median home value: $106,800

Percentage of people who rent their home: 45%

Percentage of people who own their home: 55%

12. Wichita, Kansas

Population: 389,054

Median rent: $767

Median home value: $124,400

Percentage of people who rent their home: 40%

Percentage of people who own their home: 60%

11. Beaumont, Texas

Population: 118,424

Median rent: $817

Median home value: $99,800

Percentage of people who rent their home: 44%

Percentage of people who own their home: 56%

10. Sioux Falls, South Dakota

Population: 170,401

Median rent: $771

Median home value: $168,600

Percentage of people who rent their home: 39%

Percentage of people who own their home: 61%

9. Brownsville, Texas

Population: 182,083

Median rent: $681

Median home value: $85,900

Percentage of people who rent their home: 38%

Percentage of people who own their home: 62%

8. Dayton, Ohio

Population: 140,939

Median rent: $653

Median home value: $66,500

Percentage of people who rent their home: 52%

Percentage of people who own their home: 48%

7. Wichita Falls, Texas

Population: 104,621

Median rent: $763

Median home value: $96,700

Percentage of people who rent their home: 43%

Percentage of people who own their home: 57%

6. Akron, Ohio

Population: 198,252

Median rent: $713

Median home value: $80,100

Percentage of people who rent their home: 49%

Percentage of people who own their home: 51%

5. Topeka, Kansas

Population: 127,139

Median rent: $751

Median home value: $100,400

Percentage of people who rent their home: 43%

Percentage of people who own their home: 57%

4. Evansville, Indiana

Population: 119,806

Median rent: $738

Median home value: $89,700

Percentage of people who rent their home: 45%

Percentage of people who own their home: 55%

3. Toledo, Ohio

Population: 279,455

Median rent: $677

Median home value: $78,600

Percentage of people who rent their home: 48%

Percentage of people who own their home: 52%

2. South Bend, Indiana

Population: 101,928

Median rent: $741

Median home value: $81,100

Percentage of people who rent their home: 43%

Percentage of people who own their home: 57%

1. Fort Wayne, Indiana

Population: 262,450

Median rent: $708

Median home value: $106,500

Percentage of people who rent their home: 38%

Percentage of people who own their home: 62%

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