The city of Alexandria has earned a spot among CNBC’s list of the top ten most affordable places to live in the U.S. The Madison County city is ranked No. 8 on the list, which is topped by Pecos, Texas.
To make the list, the website considered the total cost for five expenses associated with owning a home, which were compiled by SmartAsset. The categories include: most affordable, closing costs, property tax, homeowner’s insurance and mortgage payment
Mortgage payments and property taxes were analyzed over five years, as a proportion of each area’s median household income.
Alexandria’s average annual mortgage payment was calculated to be $3,319, while annual property tax was $792. The median income of Alexandria residents was determined to be $48,672.
The South came out on top as the most affordable region, taking five of the top 10 spots.
To connect to the full list of affordable places to live, click here.