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California restaurant owner Scott Rodrick discusses the impact of inflation, labor costs and other challenges for the fast-food industry on “Maria Bartiromo’s Wall Street.”
Inflation has sent menu prices soaring over the past few years at restaurants across the U.S., giving customers sticker shock and causing many to scale back on dining out in order to save money.
One recent survey indicated that nearly 80% of Americans now consider fast food a “luxury” due to high prices, and 62% said they are eating it less frequently because of the cost.
The average cost of a meal at a mid-range restaurant can vary greatly depending on the city. (iStock)
But the price of a typical meal at a restaurant can vary greatly depending on the locale, a new analysis shows.
Using Google and social media data, the team at the Cookie Rookie analyzed the average cost of a dinner for two at mid-range restaurants in major U.S. cities to determine where customers can still find a decent meal without breaking the bank.
NEARLY 80% OF AMERICANS NOW CONSIDER FAST FOOD A ‘LUXURY’ DUE TO HIGH PRICES
According to the research, here are the most affordable cities for dining out right now:
1. Fort Worth, Texas
Fort Worth, Texas, was named the most affordable city in the U.S. for dining out. (iStock)
Fort Worth, Texas, took the top spot in the rankings, with the average cost of a three-course meal – that is, an appetizer, entrée and dessert – for two in the city coming in at $60. The study praised the city’s “plentiful” selection of over 21 inexpensive eateries per 100,000 residents.
The analysis also noted that Forth Worth is known for its barbecue and its Tex-Mex cuisine.
2. El Paso, Texas
Another Texas city, El Paso, closely followed Forth Worth to land the No. 2 spot, with the price of the average dinner date costing $62.
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3. Memphis, Tennessee
Memphis, Tennessee, landed the No. 3 spot on the list of most affordable places to dine out.
The average restaurant meal for a couple costs about $65 in Memphis, Tennessee, earning it the distinction of being the third-most affordable city to dine out in America.
4. Detroit; Columbus, Ohio (tied)
Detroit and Columbus, Ohio, shared the No. 4 spot in the rankings, with the average restaurant meal for two costing $70 in both cities.
Which city is the most expensive in the US for dining out?
The study found that New York City is the most expensive city in the country to buy a meal for two at a mid-range restaurant. (Angela Weiss / AFP / File / Getty Images)
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The study did not reveal the full rankings of each city studied, but noted that New York City is the most expensive place in the nation to grab a meal at a restaurant, where it costs an average of $130 for two people to dine at a mid-range establishment.
