Housing costs
- Small towns cost significantly less than cities to buy a nice home. Around 50% less. That means half the mortgage you're paying now.
- A lower-priced home means lower property tax, a lot lower. Most small towns are not that aggressive on tax assessments.
- And don't forget other home costs like repair & maintenance, lawn care, etc., which are much lower as small town labor cost is a fraction of city labor cost.
- Small towns often have lower utility rates than big cities, so you will save money on water, sewer, power, gas and trash.
School tuition
- This has always been a key benefit of small town living. Public schools are strong, safe and the parents are extremely focused. Meanwhile, private schools are also exceptionally inexpensive. You can find a private school in many small towns that gives a $20,000+ big city learning experience for $5,000 or so per year. And our experience is that it's better in quality, as the teachers are more committed and focused.
Recreation costs
- Small town country club memberships are around $1,000 to $2,000 per year and no upfront fees. Big city country clubs are sometimes ten times that amount.
- There are a ton of free activities in small towns. Every week there's a fair or an event and they are all either free or extremely low cost.
- Small towns typically have city parks and even nature trails and fishing lakes, and they're all free since you live there.
Keeping up with the Joneses
- No such costs as that's not a part of small town living. In fact, conspicuous consumption is frowned upon in small towns.
These are Frank's notes from 2020; prices have changed, but the pattern hasn't.
For today's numbers, see what your income is worth in a small town.