Best Places to Live Cheaply

Monday, Aug 22, 2011  |  Updated 2:47 PM EDT
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If you are looking to save some money - maybe you need to move!

Forbes magazine has just released a list of the best places to live cheaply, and some aren't far from here.

Cumberland, Md., made the list at #3, and Wheeling, W.V. came in at #9.

The top spot went to Sandusky, Ohio, followed by Monroe, Mich.

How did Forbes come up with the rankings?  From the magazine:

To produce the list, we started with the NAHB/Wells Fargo Housing Affordability Index, where Sandusky ranked sixth behind such cities as Kokomo, Ind., Elkhart, Ind. and Springfield, Oh. Then we screened for the things homebuyers want to go along with a cheap house: Low cost of living, from Moody’s Economy.com.; low violent crime rate, from the Federal Bureau of Investigation; low unemployment rate, from the Bureau of Labor Statistics; and school quality from GreatSchools.org.

Cumberland was established in 1787, and was once the western terminus of the C&O Canal.

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