Compare the cost of living in United States with Sweden; Prices recently added. That figure can vary broadly across different metropolitan areas in the U.S., however. Even a meal at McDonalds will cost about an extra $2 than in other states. Grocery Cost Index: 94.5 Kansas is the fourth-cheapest state in America. Oklahoma – Total annual expenditures: $43,993.90 cost of living. The cheapest state in the United States is Mississippi. Are you looking to lower your cost of living by moving to a cheaper state? The median rent for a two-bedroom apartment in Alabama is $698, and the median home value is $129,300. Like Mississippi and Arkansas, housing is one of the lowest in the country, with the average home price at $124,800, an index of 54, and rent for a two-bedroom apartment average $879. Below are the ten states with the cheapest cost of living. Food, health care, and many other necessities are among the least expensive in the nation. Overall Score Overall Score 7.3. What impacts home affordability? Perhaps all the residents here aren't so broke they have to live off Progresocanned soup. The fifth-least expensive state in America is Missouri. Kansas – Total annual expenditures: $45,011.10 cost of living. Oklahoma has the second-lowest cost of living in America. Oklahoma City and Tulsa are pretty dirt cheap. Cities such as Springfield has an overall cost of living that is 14.1% lower than the national average, while Joplin is 17.7% below the national average. Inexpensive housing and lower miscellaneous costs make Nebraska an affordable state to live in. The cost of living in Kansas is about 12.1% less than the rest of the country, and the average household income is about $41,644. Groceries and gas prices are both below the national median as well. Although West Virginia has one of lowest median incomes in the nation, the economy of the state is among the fastest growing in the country. Transportation Cost Index: 89.9. Overall, Mississippi’s average cost of living is about 15% lower than the national average cost of living. (adsbygoogle = window.adsbygoogle || []).push({}); © 2021 Groovewallet, Inc. All Rights Reserved, The Top 10 Richest People In The World 2021, Every Powerful George Carlin Quote Ever Recorded, The Average Household Income in the United States (2021), Richest Billionaires Who Never Went To College. Indiana’s housing index is low at 76.5. Here are the 10 cheapest states to live in America according to MIT’s living wage data for 2020: Mississippi ; Arkansas ; West Virginia ; Tennessee ; South Dakota ; Alabama ; Kentucky ; Ohio ; South Carolina ; Indiana In general, however, states where it is cheaper to live have lower median incomes. Depending on where you put down roots, you’ll also be within reach of the world’s longest known cave … For example, the most expensive state to live in, Hawaii, has total annual expenditures more than double that of the cheapest state to live in, Mississippi. The cost of living differs between states depending on how far the dollar goes in that state. Looking to move up north? Alabama has relatively high taxes and high utilities (cost index of 103.3); however, it makes up for it with housing. If you are looking for somewhere cheap to raise your kids, this might be the place for you. Mississippi. Tennessee is the ninth-cheapest state in America. Top 10 Best States to Live in the US. New York – Total annual expenditures: $69,830.78 cost of living. Our partners cannot pay us to guarantee any favorable reviews. Grocery Cost Index: 93.1 Grocery Cost Index: 99.0 Mississippi – Total annual expenditures: $43,129.28 cost of living. Grocery Cost Index: 97.6 Grocery Cost Index: 99.0 The city boasts secret bars, a skinny-dipping lake, a DIY graffiti park, and music, music everywhere. Transportation Cost Index: 91.3. The cost of living includes housing, food, taxes, and healthcare. Arkansas has the lowest housing costs in America, with the average residents spending about $708 a month on rent or mortgages, which is half of what many people pay, and the median home cost is $128,800. It is also one of the 10 Best Cities for Historic Preservation.. Outside of Pueblo, the San Isabel National Forest is situated partially in the county. 8. One Of The Cheapest States To Live In: Iowa Iowa is another one of the most affordable states to live in. Transportation Cost Index: 87.7. Transportation Cost Index: 86.1. The average listing price for a home across these nine states plus Washington, D.C. is more than $442,000. Oklahoma joins Wyoming and Michigan as one of the better states to actually live in on this list. Transportation Cost Index: 99.4. Cost of Living Index: 89.6 Cost of Living Index: 90.4 Cost of Living Index: 87.9 Oklahoma also has some of the lowest gas prices in the U.S. A living wage in Alabama is $50,585, lower than some of the other states ranked above it. It must be a good sign when the cheapest city to live in Texas is named Progreso. Utilities Cost Index: 91.3. Mississippi is the cheapest state to live in overall, but only Tupelo shows up in the five cheapest cities to live in. With an overall price parity of 98.4, the overall cost of living is 1.6 percent lower than the average cost of living in the United States. Pueblo County is located in southern Colorado and had a population of 159,063 as of the 2010 census. Cost of Living Index: 89.4 The gorgeous state is home to the iconic Louisville Slugger Museum & Factory as well as the Kentucky Bourbon Trail where nearly all of the world’s bourbon (including Makers Mark) is produced. Grocery Cost Index: 94.1 All products we feature or write about are objective and unaffected from these partnerships. The median home value in Tulsa is just 127,000$ and in OKC it’s still under $140,000. Austin, TX. Rounding out the top ten cheapest U.S. states is Indiana. The cheapest state to live in is Mississippi, followed by Oklahoma, Arkansas, … Cities such as Morristown have an average cost of living that is 13% below the national average. Mississippi is the cheapest state in terms of cost of living. It is the home of affordable housing in the country, and Southern hospitality awaits you in the state. And a state with a low cost of living. Cost of Living Index: 84.8 The state ranked second for the “best place for children” list released by SmartAsset. Mississippi’s cost of living index is 84.8 and has the lowest overall housing cost index of all 50 states of 66.7. We may be compensated when you click on links to their products/services. A two-bedroom apartment is around $750 a month, and the average home value is about $169,156. Oregon – Total annual expenditures: $68,152.40 cost of living. Alabama ranks seventh for the lowest cost of living. Of all the cities included in this study, Dayton had the fifth-lowest cost of living and the fifth-lowest median monthly rent. Housing Cost Index: 71.8 If you live in one of these regions — or have the flexibility to relocate — you’ll have a better shot at finding listings that are less expensive than other parts of the country. Massachusetts – Total annual expenditures: $66,168.86 cost of living. The capital of this so-called flyover state may not top your to-visit list, but Des Moines is a great place to live and... Read More. The median home price in Mississippi is only $114,500, which means retirees relocating from more expensive states can expect to pocket quite the stack of cash. The median home cost in New Mexico is $193,200, and the average rent for a two-bedroom home is $762 per month. In fact, it’s one of the best places to live for only $1,000 a month. Read on for our latest list of the cheapest U.S. cities to live in. The cheapest state to buy a home in is once again West Virginia. These are the 10 cheapest countries to live in worldwide: Cost of Living Index: 87.8 As well as being one of the cheapest states to live in the U.S., Kentucky is also a center of innovation with yearly job growth. California – Total annual expenditures: $70,034.22 cost of living. While Portland may pretend to be the original hipster city, Austin was weird first. Housing Cost Index: 70.1 Cost of living is a term that describes the amount of money necessary to maintain a certain level of living, inclusive of essential expenses such as accommodation, food, clothing, health care, and taxes. The Cheapest States To Live In The USA. It can be used to compare the affordability of one location versus another, such as between states. Joplin, Missouri has the lowest real estate prices in the country, where a four-bedroom home can cost just a little over $200,000. Transportation Cost Index: 93.0. Overall, Mississippi’s average cost of living is about 15% lower than the national average cost of living. Any amount below 100 means that the cost is below the nation’s average, and any amount above 100 means that the cost is higher than the nation’s average. Here is MIT’s full list of the most affordable states to live in for 2020 , based on household income from homesnacks.com . California, the golden state of the United States, is the third most expensive state to live in the country. Although Mississippi is dubbed the cheapest state to live in overall, Arkansas residents spend the least on housing, the analysis revealed. Even with this, Tennessee’s housing index is only 82.6. Housing Cost Index: 80.4 Quality of Life Quality of Life 7.3. You can rent a home for a median price of $900 per month and if … Unfortunately, there is no official cost of living comparison between st… Mississippi costs are lower than the state average in every category except for home insurance costs. The median listing price in the Mountain State is $165,000 – the lowest median price in the study. Georgia’s median household income is $56,183. That’s compared with the cheapest average of $181.20 per month in Perth. A two-bedroom apartment in Kansas costs around $821 a month, and the median home value is about $137,700. This can be seen in housing costs, especially. Groceries cost less in Kansas, too, with a half-gallon of milk costing only $1.39 and a pound of ground beef costing $3.79. To find out what is the best state to live in, the points for each of the metrics were added up. Home insurers base rates on risk. We analyzed the cost of living for every state in the US, and ranked the cheapest states to live in. The median home value is $180,679, and the median rent prices are cheaper than the rest of the country except for Atlanta, where rent for both one- and two-bedroom apartments are slightly above the national median. Housing Cost Index: 66.7 Grocery Cost Index: 95.1 Cost of Living Index: 89.4 What state is the cheapest state to live in? Housing Cost Index: 70.2 According to our analysis of cost of living, Progreso is the most affordable place to live in Texas. Most of the states with the lowest cost of living are in the South, while those with the highest costs of living often have some of the nation’s largest urban clusters. Hawaii – Total annual expenditures: $97,549.48 cost of living. Housing Cost Index: 71.3 Both goods and property rental are lower than average, but the cost of other services is five percent above average. Housing Cost Index: 82.6 The cost of living index is based on the U.S. average of 100. Indiana’s living index cost is 90.4, meaning that the overall cost of living is 9.6% less than the national average. Mississippi. Utilities Cost Index: 92.3. The primary appeal of Dayton to retirees is likely going to be pretty similar to most everyone else: It’s a very inexpensive place to live. According to 24.7 Wall St., a dollar spent on rent in Arkansas is worth $1.58 in value, while a dollar spent on rent in Hawaii is worth $0.61. Mississippi’s living wage is only $48,537 and has the cheapest personal necessities anywhere in the country. The living wage in Tennessee is $50,152, the highest on the list so far, coupled with the highest housing costs so far of $810. Oklahoma City has an overall cost of living 15.4% below the national average. Housing costs about $795 a month, and childcare in Mississippi is the cheapest in the country, costing about $2,869 a year. Grocery Cost Index: 92.3 Noted for its mountains, rolling hills, and plenty of state parks, Mountain State offers a spread of doors recreational choices that embody hiking, mountain biking, skiing, fishing, hunting, and whitewater rafting. People say that Mississippi should be called the Magnolia State or the Hospitality State. Agriculture and manufacturing are two of the largest industries in the state. It is an often-overlooked state. When it comes to deciding which state to call home or to locate your small business, cost of living is a major factor to consider. The cheapest state to live in in the United States is Mississippi. The most expensive state to live in is Hawaii, followed by California, New York, Oregon, and Massachusetts. The Cheapest Big Cities in Texas 5. This gave a final ranking to all 50 states, and the top 10 places were: Virginia, Massachusetts, New Hampshire, Utah, New Jersey, … The county seat, also named Pueblo, is the sixth most affordable place to live in the United States as measured by the 2014 Cost of Living Index.. It is a dream place to live for many for its stunning beaches, beautiful mountains, and year-round moderate temperature. There is a strong correlation between a state’s cost of living and per capita personal income. We calculated the annual groceries costs, housing costs, utitlities costs, transportation costs, and healthcare costs of each state to find the total expenditures you would need to spend to live in each state for a year. While the average price for a four-bedroom home in the Dayton, Ohio, metropolitan area is just over … Other major industries include food and beverage and aerospace. The necessities like Groceries, electricity, and gas are incredibly affordable and the housing is even better. Arkansas’s living wage is $49,970. Georgia is the sixth-cheapest state in the United States. Tupelo’s cost of living is low across the board, with the exception of health care costs. Transportation costs are about 12.3% lower than the national average. Cheapest cities to buy a house: Bluefield, Clarksburg, Beckley, Huntington (Yahoo) Cost of living index: 91.1 (World Population Review) 2. Here are the 10 states with the lowest cost index. Hide text. The cost of living in the United States varies between states. Mississippi is the 34th-largest state in the U.S. and home to nearly 3 million residents. Check out the cheapest cities to live in Canada here. Transportation Cost Index: 94.8. Kentucky is a state of refined culture, vast rural farmland, and a robust economy that generated 165 billion in 2011 and has only grown. Cost of Living Index: 90.2 In this post, I’m here to tell you where are the cheapest places to live in California. 1. New Mexico – Total annual expenditures: $44,858.52 cost of living. The differences in housing costs is perhaps the most drastic. The most affordable and cheapest states to live in America. This article may contain references to products/services to our partners. Housing Cost Index: 75.2 Low food and utility costs make West Virginian one of the cheapest states to live in the US – the Mountain State residents spend about 9 percent less than the average American for core necessities. The cost of living in America varies drastically from state to state. The cheapest state to live in is Mississippi, followed by Oklahoma, Arkansas, New Mexico, and Kansas. Weather-related claims, such as hurricanes, fires and break-ins lead to higher costs. Grocery Cost Index: 92.8 The third-cheapest cost of living in America, however, comes with the second-lowest salaries in America. New Mexico is the eighth-cheapest state in the U.S. Groceries are about the same as the national average; however, utilities and housing are significantly lower than the national average. In the twentieth position on the list of the 20 most expensive cities to live in the United States is Maine, according to News Week. In 2017, … The lower the number, the further the dollar goes for that cost. It can also lead to better networking and more exposure to bigger career opportunities. Transportation, utilities, food, and other expenses are also significantly lower in Arkansas. Michigan – Total annual expenditures: $3,555.98, Texas – Total annual expenditures: $3,568.01, Kentucky – Total annual expenditures: $3,632.15, Arkansas – Total annual expenditures: $3,656.21, West Virginia – Total annual expenditures: $3,676.25, Mississippi – Total annual expenditures: $6,297.26, Alabama – Total annual expenditures: $6,540.54, Oklahoma – Total annual expenditures: $6,577.97, Missouri – Total annual expenditures: $6,606.04, Georgia – Total annual expenditures: $6,755.75, Idaho – Total annual expenditures: $3,136.14, Montana – Total annual expenditures: $3,185.62, Wyoming – Total annual expenditures: $3,231.29, Oregon – Total annual expenditures: $3,318.83, Colorado – Total annual expenditures: $3,349.28, Arkansas – Total annual expenditures: $3,848.11, West Virginia – Total annual expenditures: $4,018.42, Mississippi – Total annual expenditures: $4,124.29, Oklahoma – Total annual expenditures: $4,147.30, Alabama – Total annual expenditures: $4,147.30, Arkansas – Total annual expenditures: $5,822.51, Maryland – Total annual expenditures: $5,924.54, West Virginia – Total annual expenditures: $5,978.96, Mississippi – Total annual expenditures: $6,094.59, Alabama – Total annual expenditures: $6,094.59. Housing Cost Index: 71.6 Mississippi’s living wage is only $48,537 and has the cheapest personal necessities anywhere in the country. Mississippi is the most affordable state to retire in the whole country. U.S. News & World Report ranked the Cheapest Places to Live based on what matters most so you can make informed decisions. The cheapest states are: West Virginia; Iowa; Oklahoma; Kansas; Ohio; Arkansas; Indiana; Mississippi; Kentucky; Nebraska; All states on our list are concentrated in the Midwest and South. Groceries prices in Missouri are notably lower than in other parts of the country, with a dozen eggs costing only $1.32 in Joplin. Taxes in Tennessee are very low, with no state income tax, and food costs are very low. Grocery Cost Index: 90.7 You would need $97,549.48 to live a year in Hawaii while you would only need $43,129.28 to live a year in Mississippi. Some people prefer to pay more to live in a busier, more populated city because salaries are also higher in those areas. However, with the current rise of remote work and more people working from home, it’s now a better time than ever to move to a cheaper state and lower your cost of living drastically.
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