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Top 10 Cheapest States to Live in the US

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America is the largest economy in the world and the cost of living is of course very high. However, prices vary in different regions in the US. If you’ve ever thought about which states are the cheapest to live in the US, then we’ll do our best to help you out in our article today.

Due to the surge in home prices and ever-changing job opportunities, many Americans are now looking to move from expensive, overpriced cities to more affordable places to live.

The meaning of affordability can vary from person to person, but we considered a number of variables such as house prices that are below the national average and overheads such as transportation, groceries, healthcare, and energy costs to compile this list of cheapest states in the US. . to live in.

Cheapest States to Live in USA – Cost of Living

According to the latest research from the Council for Community & Economic Research, Mississippi is the most affordable state in the US with the lowest cost of living compared to the national average.

The cost of living is basically the minimum amount needed to maintain a certain standard of living. The basic requirement for human needs such as housing, food and health care is considered the cost of living parameter. The cost of living in a state is directly proportional to the per capita personal income.

Check out the Top 10 cheapest states to live in the US from 2022

Depending on how far the dollar goes in a state, the variance in the cost of living between states also increases. For example, in the state of Arkansas, 1 dollar spent on rent is worth $1.58, while in the state of Hawaii it is worth $0.61. The common factor in most states with the lowest cost of living is that they come from the southern region of the US.

Below is the list of the ten cheapest states to live in the US according to the cost of living index score as of 2022.

  1. Mississippi
  2. Arkansas
  3. Oklahoma
  4. Missouri
  5. New Mexico
  6. Tennessee
  7. Michigan
  8. Kansas
  9. Georgia
  10. Alabama

1. Mississippi – Cost of Living Index: 86.1

Mississippi is the cheapest state to live in the US with a cost of living index value of 86.1. Compared to the national average, the average cost of living in Mississippi is 15% cheaper. The Mississippi wage high enough to maintain a basic standard of living is only $48,537 per year. The cost of personal necessities is the cheapest compared to anywhere in the country.

Housing costs in Mississippi are about $795 per month, while childcare costs $239 per month. Many necessities, including food and healthcare, fall under the least expensive categories in the nation.

2. Arkansas – Cost of Living Index: 86.9

Arkansas ranks second in our list of cheapest states to live in the US. Arkansas residents spend about $708 a month on housing rent, which is nearly 50% less compared to what many people in other states pay.

The median home cost in Arkansas is $128,800. The average salary of Arkansas residents is also the second lowest in America. The living wage in Arkansas is only $49,970. Daily utilities, food and other expenses are also much lower in Arkansas compared to the national average.

3. Oklahoma – Cost of Living Index: 87

Oklahoma is the third state with the lowest cost of living in America. Housing costs are one of the lowest in the country, where it costs just $879 a month to rent a two-bedroom apartment.

Oklahoma gas prices are some of the lowest in the US. Grocery and utility costs are below the national average and their respective index scores are 95.8 and 94.1. The average cost of living in Oklahoma City is 15.4% cheaper than the national average.

4. Missouri – Cost of Living Index: 87.1

Missouri is the fifth cheapest state in the US. The lowest real estate prices in the country can be found in the Missouri city of Joplin. A standard 4 bedroom home costs about $200,000. Groceries prices are very low in Missouri, for example, a dozen eggs costs only $1.32 in the city of Joplin.

5. New Mexico – Cost of Living Index: 87.5

New Mexico is the fifth most affordable state to live in the US. Groceries prices are almost the same as in other states, but utilities and housing are significantly lower.

The median cost of a home in New Mexico is $193,200 and the cost of rent is just $762 per month for a two-bedroom home.

6. Tennessee – Cost of Living Index: 88.7

Tennessee ranks sixth in our list with a living wage of $50,152, the highest compared to other states named in the list. Taxes in Tennessee are very low. Transportation costs are about 12.3% lower compared to other states in the US.

7. Michigan – Cost of Living Index: 88.9

Michigan is one of the largest states in the US, not only in terms of land mass, but also in terms of population. The country is densely packed, with an average of 174 people for every square mile of Michigan’s territory.

According to the 2010 census, Michigan was the only state in the US where its population has declined in the past ten years.

8. Kansas – Cost of Living Index: 89

Kansas is the eighth most affordable state in America. The cost of living in Kansas is about 12.1% lower than the national average. The average resident earns about $41,644 per year.

The median home cost in Kansas is $137,700 and the cost of renting a two-bedroom apartment is about $821 per month. Daily home necessities like milk cost as little as $1.39 for a half gallon and a pound of ground beef costs $3.79.

9. Georgia – Cost of Living Index: 89.2

Georgia ranks ninth in our list of cheapest states to live in the United States. The median median household income in Georgia is $56,183. The average cost of a home value is $180,679.

Aside from the city of Atlanta, rents in the rest of the state of Georgia are lower than in the rest of the country. Household groceries and gas prices are also well below the national median.

10. Alabama – Cost of Living Index: 89.3

Alabama is the tenth cheapest state to live in the US. Taxes in the state of Alabama are relatively high, but housing costs are lower compared to other states. The average rent is only $698 for a two-bedroom apartment. A living wage in Alabama is $50,585.

Share your thoughts in our comments section if you live in any of the above states in the US!

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