The report examined data on the cost of goods and services - ranging from food to transportation - housing and employment, and eliminated cities with depressed economies. Analysts say the Oklahoma City's low cost of living, schools and its place as a state capital helped give it the top spot.
"State capitals and university towns have vibrancy because of their job base, the stability of jobs and cultural diversification," James P. Gaines, a research economist at the Real Estate Center at Texas A&M University, told the magazine.
Other cities which the magazine listed as very affordable included Pittsburgh, Nashville and Buffalo and Rochester, New York.
The state offers very affordable housing prices despite a relatively low level of foreclosures, which are often a source of discounted homes for moving families. Data from RealtyTrac found that the city near the bottom third of the cities nationwide in terms of foreclosures.
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