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5. Glens Falls, New York

Glens Falls has a lot going on between its hot air balloon festival and the medical device manufacturing industry. You can invest in a slice of Hometown U.S.A. (that's the town's nickname) if you like the idea of work-life balance.

Plus, it's just a four-hour drive to N.Y.C. for times you want to experience the Big City life. The average home price in this part of the Empire State is $189,900, and rent comes in at about $1,000 per month.

Feeder Canal in Glens Falls, NY with vibrant leaves in autumn Ashley Freiheit/ Getty Images

Originally published on The Getaway: The Cheapest Places to Live in America
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