Research shows Danville is the most cost-effective city in the country

Danville – Researchers at the U.S. Bureau of Economic Analysis recently did a comparison between how much money people make and how much those paychecks can get them in 356 cities across the country.  They found you get the most bang for your buck in Danville, Illinois.

Danville is a city that has suffered from a perception problem for years, but new data disproves many of those misconceptions.

“I think what it does is confirm from a national perspective what we have talked about all along,” said mayor Scott Eisenhauer. “And that is that the city of Danville by far is the most cost effective of any city in this nation.”

The median income is just under $30,000.  

“The wage that they would expect to find in a community of 33,000 in the Midwest is being surpassed in this community,” said Eisenhauer.  “And now add to that the fact that you able to stretch those dollars here more than anywhere else.”

Because when you factor in the purchasing power of those dollars, that $30,000 feels more like $35,000, the largest jump in any city in the United States.

That’s not to say you cannot get more for your money in other cities across Central Illinois, however, in other metro areas, like Champaign-Urbana, what you see on your check is closer to what you can get with it.

“Our income is kind of in the bottom third because of all the office and government employment here,” said Champaign County Economic Development Corporation Executive Director, Craig Rost. “But the other component to that is that the cost of living is relatively low.”

But low or high, the best way to make your money go furthest is to be a smart spender.  

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