Discovering the Cheapest Cities in America to Reside

08 Des Moines, Iowa

Des Moines got its name from the river on which it's set. Dubbed such by French settlers, "Riviere des Moines" means "River of the Monks." Of course, there's more to downtown Des Moines than its monastic name. These days, Des Moines is a major hub for insurance and financial industries. Business Wire has even credited it as being the number one spot for insurance companies. Des Moines has a median income of $49,999, with 58.7% of people spending less than 30% of their income on housing. As well as this, the city has a total cost of living that's -14% less than the US average.