Cimarron Hills named third least expensive suburb in U.S.

woman doing bills on computerCimarron Hills was named the third least expensive suburb in the United States, according to Movoto, a blog about “the lighter side of real estate.”

Located in Colorado Springs, the suburb lies between Powers Boulevard and Marksheffel Drive, bordered also by Colorado Highway 24.

Movoto Content Editor Randy Nelson studied the cost of living, food and utility costs, housing affordability, property tax rates and state income tax rates and sales tax. Nelson reviewed 139 suburbs of the 50 largest cities in the country.

Using the U.S. Census as a source, Movoto listed the suburbs from the most affordable, at number 1 to the least, at 139.

Colorado Springs is the westmost suburb in the top 10, behind Midwest City, Okla., and Moore, Okla.

The blog found that the cost of living in the Cimarron Hills subdivision is six points below the national average, while food and utilities are seven and 10 percent below, respectively.

In terms of housing affordability, the home price to income ratio in Cimarron Hills is 2.65 to 1, with the median home price at $146,900 and the median household income at $55,406.

Property taxes in the area are 53 percent below the national average, while sales tax—at 48 percent above the national average—is lower than the top two suburbs. State income tax in the area is 4.63 percent, which is about 1.5 percent below the U.S. average.

To view the full report, visit Movoto.