Cost of living: 19.1% below national average
City population: 35,539
Median household income: $39,724
Median home value: $88,400
Unemployment rate: 5.1%
Richmond is famous for its contribution to jazz music, with some of the first jazz records recorded with Richmond’s Gennett Record, including some feats of Hoagy Carmichael, Duke Ellington and Louis Armstrong.
Apart from its special relationship with jazz music, Richmond also boasts several high-quality institutions, including Indiana University East, the Earlham School of Religion and the Bethany Theological Seminary.
This small town is also one of the cheapest to live in, with residents paying 34 percent less on housing than the national average. Rent is around 50 percent below the U.S. average while the median home value is 26 percent less.
Healthcare services are also affordable, with a visit to the ophthalmologist costing half the national average.
Find out if your state is among these 25 States with the Most Affordable Healthcare Costs.
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