Minneapolis named most affordable city in magazine ranking

Forbes ranked Minneapolis the “Most Affordable Place to Live Well” in a Nov. 6 story.

Forbes reported that 61percent of homes here were affordable to the median household earner last quarter (which is 17th place out of 50 cities).

“Minneapolis ranked just under the median in cost of living,” wrote Forbes staff member Matt Woolsey. “Its quality of life ranking most distinguishes it; here the city ranked third, and came in ninth in arts and leisure offerings.”

Forbes measured housing affordability in the country’s 50 largest cities, looked at the cost of living index, and determined quality of life by evaluating the strength of schools, health care quality, and crime and poverty rates. The “arts and leisure” ranking was taken from data by Sperling’s Best Places.

Indianapolis was ranked second in the study, and Cincinnati came in third. The runners-up in order of rank were St. Louis; Houston; Milwaukee; Dallas; Pittsburgh; Columbus, Ohio; and Atlanta.