In this article, we will take a look at the 5 cheapest states to live in. If you want to see more states in this selection, go to the 15 Cheapest States to Live In.
5. Georgia
Average Weighted Cost of Living Index: 88.67
Georgia has the most affordable transportation cost amongst all the states in the US, which is 10.2% lower than the national average. The Peach State is well connected with major highways and interstates, making it easier and cheaper to transport goods and people throughout the state. The state is also home to several major ports, including the Port of Savannah, one of the largest and busiest ports in the United States. Furthermore, Georgia has a relatively low tax burden, including lower fuel taxes compared to many other states.
4. Alabama
Average Weighted Cost of Living Index: 87.97
Alabama has the third lowest cost of housing amongst all the states in the US. The state’s average housing price is 30.4% lower than the national average. Furthermore, Alabama has the second lowest cost of transportation which is 10.1% less than the national average. Additionally, the cost of fuel in Alabama is generally lower than in many other states, which helps to keep transportation costs down. Meanwhile, the cost of healthcare is the fourth lowest among all the states.
3. Kansas
Average Weighted Cost of Living Index: 87.07
Kansas is the last of the seven Midwestern US states on our list of the 15 cheapest states to live in. Amongst the 15 states on this list, the Sunflower State has the second lowest population density of only 36.24 people per square mile with a total population of 2.96 million. The state has the seventh lowest cost of groceries which is 6.3% lower than the national average. Meanwhile, housing prices are the fifth lowest amongst all the states and 28.9% lower than the US average. The unemployment rate in Kansas is one of the lowest across the nation at around 2.9% as of January 2023, as opposed to the overall unemployment rate of 3.4% in the US.
2. Oklahoma
Average Weighted Cost of Living Index: 86.84
Oklahoma has the sixth lowest grocery and healthcare cost among all the states. The housing cost for the Sooner State is the fourth lowest and 29.8% lower than the US average. Oklahoma has plenty of amenities that make it an attractive place to live, including a low crime rate, good schools, and plenty of outdoor recreational opportunities. Furthermore, Oklahoma has relatively low taxes compared to many other states. The state sales tax rate stands at only 4.5% in Oklahoma, which is among the lowest rates in the country.
1. Mississippi
Average Weighted Cost of Living Index: 84.23
Mississippi secures the first place on our list of the 15 cheapest states to live in. The state offers the cheapest housing among all the US states. The average house price in Mississippi is 32.6% lower than the US average, according to MERIC. Mississippi offers a cost advantage when it comes to essential commodities like food and clothing, with a 9% lower cost compared to the national average. In terms of healthcare services, routine medical check-ups and dental treatments are 5% more affordable in Mississippi. Mississippi is well-known for its Southern food and hospitality, which are deeply ingrained in the state’s culture and way of life. The state’s cuisine is influenced by its history, with a mix of Native American, European, and African-American flavours.
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