With the U.S. Economy officially on the road to recovery, there are 10 cities that stand out as the most affordable places to live in America. 

The housing market
The cost of housing is the biggest single expense nearly every American faces each day, but there can be wild variations among cities about how much it costs to live there. As a result, the National Association of Home Builders and Wells Fargo release the Housing Opportunity Index, which takes into account personal income, home prices, taxes and much more to figure out which cities are and aren't affordable.

This is important to individuals because at first glance a city like San Francisco is appealing, as it's home to one of the highest average income at over $100,000 a year. But the median home price is a staggering $800,000. This is why it has been atop the list of least affordable cities in America for the last five quarters.

And while the housing market has recovered from the depths of the financial crisis -- when the affordability index hit its peak thanks to falling home prices and low interest rates -- the most recent reading revealed 64.7% of homes sold across America were considered to be affordable, which is in line with what had been seen before the Great Recession.

Although you may think you know which cities are affordable, the results may surprise you, as the city which ranked number one last quarter failed to break into the top 10. Check out the slideshow below to see which city is home to the most affordable housing market in the U.S.