3. Ardmore, Okla.

CBSMoneyWatch: The 10 Most Affordable Cities in the U.S.

Ardmore isn't a huge city -- as of the 2010 census it had just over 24,000 residents -- but it has a lot going for it. It's home to a variety of museums, theaters and convention centers as well as Lake Murray State Park, where residents can enjoy the outdoors on horseback or on the golf course. Residents can expect to pay around $157,000 for a home in Ardmore, the median home sale price.

(iStock)

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The 10 Most Affo... The verdict is in: Manhattan is the most expensive metropolitan area in the U.S., according to the Council for Community and Economic Research. The cost of living in the New York borough is more than twice the national average, and home prices -- rentals included -- are through the roof.

But what about the other end of the spectrum? The least expensive metro in the U.S. boasts a cost of living that's more than 20 percent below the national average, and a high quality of life to boot.

The findings are drawn from the Council's quarterly cost of living index, which measures regional differences in the cost of consumer goods and services around the country. Those items include housing, utilities, groceries, transportation, health care, and miscellaneous goods and services.

Following are the 10 least expensive metropolitan areas in the U.S. as of the third quarter of this year, according to the Council.

(AP Photo)

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10. Idaho Falls,... The city of Idaho Falls has it all. It's a business hub and is home to a variety of art galleries, museums and theaters, but offers access to every outdoor activity imaginable. There's whitewater rafting, fishing, hiking, biking, golf and more. The median home sale price is $104,368 according to Trulia.com, and well within range for many middle-income families.

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9. Fayetteville,... Home to the University of Arkansas, Fayetteville is a city that loves sports. In 2010, the town was ranked the seventh-best college sports town in the U.S., and the eighth-best city for business and careers. Fayetteville is a great mix of college town, business center and cultural hub. Home prices are surprisingly affordable for a city with so much going for it -- the median home sales price is $170,000, according to Trulia.com.

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8. San Marcos, T... San Marcos is home to Texas State University-San Marcos and appeared on Business Week's "Best Places to Raise Your Kids" survey in 2010. It's located 40 minutes from Austin, Texas, and an hour from San Antonio, so residents get to enjoy the cultural and economic benefits of those cities in addition to their own. With a median home price of $43,000, according to Trulia.com, San Marcos is an inexpensive alternative to larger Texas cities.

(AP Photo/Eric Gay)

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7. Muskogee, Okl... Muskogee has a little something for everyone. Named after a Native American tribe, Muskogee has a rich Native American history. The city is home to the Five Civilized Tribes Museum, which is dedicated to preserving the art, history and culture of the Cherokee, Chickasaw, Choctaw, Muscogee (Creek) and Seminole tribes. The median sale price for a home in this Oklahoma city is $89,000, according to Trulia.com.

(AP Photo)

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6. McAllen, Texa... McAllen is located in Texas' Rio Grande Valley and offers residents a blend of U.S. and Mexican culture. Many of its museums and restaurants reflect the city's close relationship with northern Mexican states, and many Mexican residents come to shop and dine in McAllen. Homes are affordable, with the median sales price hovering around $54,000, according to Trulia.com.

(AP Photo/The Monitor, Jerome T. Nakagawa)

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5. Memphis, Tenn... Memphis is home to Elvis Presley's famous Graceland estate and the historic Sun Studio, where music legends such as Jerry Lee Lewis and Johnny Cash recorded some of their most popular hits. The city remains a haven for music lovers. Home values are reasonable, with a median home sale price of $73,700, according to Trulia.com.

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4. Pueblo, Colo. Once known for its steel mills, Pueblo has blossomed into a modern city with a lot to offer residents. Nature lovers can enjoy the Nature and Raptor center, which is home to rescued owls and eagles, or do some boating or fishing in Lake Pueblo State Park. After working up an appetite, locals can head to a local restaurant to get a taste of another one of Pueblo's claims to fame -- Mexican food. According to Trulia.com, the median home price in Pueblo is $115,000.

(iStock)

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3. Ardmore, Okla... Ardmore isn't a huge city -- as of the 2010 census it had just over 24,000 residents -- but it has a lot going for it. It's home to a variety of museums, theaters and convention centers as well as Lake Murray State Park, where residents can enjoy the outdoors on horseback or on the golf course. Residents can expect to pay around $157,000 for a home in Ardmore, the median home sale price.

(iStock)

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2. Norman, Okla. Norman is the third-largest city in Oklahoma and is home to the University of Oklahoma. Sports are big in this college town, and 80,000 people regularly attend college football games. The city is also one of the most tornado-prone in the U.S., sitting directly within tornado alley. Fittingly, the National Weather Center is located on the University of Oklahoma's campus. Residents are willing to deal with the threat of severe weather every few months to enjoy all that Norman's neighborhoods have to offer. The average listed sale price for homes is $213, 268, according to Trulia.com.

(AP Photo/Sue Ogrocki)

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1. Harlingen, Te... Harlingen is the most affordable city in the country, with a median home sale price of just under $100,000, according to Trulia.com.The city is a great place to enjoy fishing, hunting, biking and hiking. Creative residents enjoy the Harlingen Art Forum, which operates an art gallery in the historic downtown area and sponsors classes for local artists. Harlingen is located on a migratory bird path and is home to a World Birding Center site, making it an international birding destination.

(iStock)

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Hot Retirement S... Click here to see the 10 best places to retire.