Life is about more than a constant struggle to pay everyday expenses. As you probably know, the cost of living varies wildly from state to state. If you are considering moving, you may want to relocate to an area where your dollar stretches a bit further.
That’s where we come in. We have compiled a list of the 15 states with the lowest cost of living. In compiling our rankings, we looked at the average cost of the following:
As you may suspect, cost of living expenses also vary considerably within states. Major metropolitan areas often cost more than rural ones. Therefore, you should conduct additional research to find out more about any specific areas you are considering. On average, though, the states are on list are more affordable than those that don’t appear. Read on to find out which are the lowest cost of living states.
15 States Where Living Expenses Won’t Bust Your Budget
Without a doubt, living in the Magnolia State is an excellent option for anyone looking to save a bit of cash. Mississippi offers the lowest overall expenses of any state in the Union. In fact, if you relocate to this storied southern state, you can expect to spend under $900 on rent. If you would like to buy a house, you can probably find one for about $155,000. That’s more than $30,000 less than the national average. Since property taxes are low in most places in Mississippi, you don’t have to worry about saving a fortune for when yours come due.
Housing isn’t the only affordable expense in Mississippi. On the contrary, healthcare, transportation, grocery and entertainment costs in the Magnolia State are all lower than they are in most other places. With a decent economy and mild winters, Mississippi may be the perfect place for you to put down roots.
The home of Music City, Tennessee is also one of the most affordable places for anyone to live. If you are looking for cheap housing, the Volunteer State needs your attention. The median house value in the state is only $120,000, providing an excellent opportunity to acquire an ideal property without breaking the bank.
While grocery, transportation and healthcare expenses are a bit higher than Mississippi, you still get a great value in Tennessee. For example, food in the Volunteer State costs about seven percent less than it does in most other parts of the United States.
Most houses in Indiana cost about $140,000, which is significantly less than the national average. The Hoosier State also boasts some of the lowest property and other taxes of anywhere in the United States. If you choose to relocate to this midwestern state, housing isn’t the only place you can expect to save some serious dough. Across the state, food, transportation and healthcare costs are low.
Even better, many parts of Indiana are experiencing economic growth. With jobs in manufacturing and other growing sectors, you can likely find a decent job to help your lower living expenses.
Like Tennessee to its south, Kentucky offers some of the lowest living expenses of any state in the country. For budgeting purposes, you can expect to pay around 20 percent less for housing in the Bluegrass State. In fact, many homes rent for around $850 per month.
Most areas in Kentucky offer lower healthcare and food prices than other parts of the United States. This remains true for metropolitan areas and rural ones alike. As such, if you want to live in a city, Louisville may be an affordable option.
Alabama is another southern state where living expenses are cheap. If you move to the Heart of Dixie, you can likely find a house to buy for around $160,000. While this is considerably less than the national average, you can save even more by purchasing real estate in a gentrifying area. For example, some decent houses in Mobile sell for $50,000 to $60,000 less than in other parts of the state.
As with other southerners, Alabamians spend less for healthcare, transportation and food. With factories, agricultural operations, recreational outfitters and other economy-boosting businesses, the Yellowhammer State has something for every professional. Likewise, Alabama’s mild climate is a draw for retirees.
Even though the real estate market in Arkansas is hot, you can plan to pay around $145,000 for a house. If you prefer to lease your dwelling, you can find a bargain in the Natural State. With most single-family homes going for around $850 per month, you save more of your hard-earned wages by relocating to Arkansas.
Home to Walmart’s headquarters, Arkansas offers some of the lowest food expenses anywhere in the United States. Likewise, healthcare and transportation costs are comparatively low in the Land of Opportunity.
South meets west in Oklahoma, where you can probably buy a house for about $150,000. If you prefer to rent, you will likely pay more in the Sooner State. In fact, most renters pay about $950 for a single-family home in Oklahoma. Still, rent prices are a bargain when compared to the national average.
With affordable utilities, groceries and transportation, Oklahoma provides an ideal economic climate for anyone who wants to stick to a savings plan. While you may think of the Sooner State as a rural place, it has several cities that offer a variety of employment opportunities.
Homes are a steal in the Sunflower State. If you relocate to Kansas, you can likely snatch up a property for under $145,000. This is more than $40,000 less than the national average. Housing expenses aren’t only what make Kansas affordable, though. Transportation costs and utilities are lower than in most other parts of the country.
Kansas also offers low property taxes. Accordingly, you may be able to buy a more expensive home in the Sunflower State than you could elsewhere.
For decades, Warren Buffet has called Nebraska home. The Oracle of Omaha likely knows something about the Cornhusker State that you don’t. That is, housing in this part of the country is more affordable than it is practically anywhere else. If you want to rent a home in Nebraska, you can expect to pay around $900 per month.
Nebraskans live the good life in their state. With low food and fuel costs, citizens of the Cornhusker State have more disposable income. When they do go out to eat, Nebraska residents spend less than individuals who live essentially anywhere else.
Housing costs in the Peach State are a whopping 24 percent less than the national average. As such, if you relocate to Georgia, you have more to spend on other expenses. While groceries cost roughly the same as they do in most other parts of the United States, transportation costs are significantly lower. Healthcare costs, however, are a bit higher in Georgia than they are in the other states on our list.
Most houses in Missouri listed for about $150,000. This is considerably less than median house prices in more expensive states. Your mortgage isn’t the only place you can plan to save money if you relocate to the Show-Me State, though. Groceries cost about 3 percent less in Missouri than they do in other parts of the country. Transportation and utility expenses are also lower.
Soaring peaks and fertile farmland make Idaho a beautiful state. The Gem State also appeals to anyone who wants a lower cost of living. In most parts of the state, housing costs 75 percent less than it does in the rest of the United States. Groceries are also downright cheap in Idaho, costing about 85 percent of the national average.
While it has lost some residents in recent years, Michigan is an excellent opportunity for anyone who wants to spend less on living expenses. Houses in the Wolverine State sell for about 75 percent of what they would in other parts of the United States.
With farms, cities and natural areas, Iowa is a lovely place. It is also an affordable one. Housing costs in the Hawkeye State are roughly 80 percent of the national average. Food prices, healthcare costs and utilities are also significantly less in Iowa.
Everything is bigger in Texas except living expenses. With housing costing roughly 15 percent less in most parts of the Lone Star State than it does in the rest of the country, you can spend money on other things after moving to Texas. Food and healthcare costs are also cheaper in the Lone Star State.
If you are tired of struggling to make ends meet, you may want to move where your dollar goes further. The 15 states on our list offer the cheapest housing, transportation, healthcare and utility costs of any states in the country. Rather than spending a fortune on everyday expenses, use our list to see which parts of the country offer more for less.
Get Your Trade Degree!
Find schools and get information on the Trade Program that’s right for you.
Powered by Campus Explorer