When thinking about where to live in the United States, the cost of living is an important factor. It can affect your ability to save, enjoy leisure activities, and live comfortably. While some states have skyrocketing prices for housing, groceries, and transportation, others offer a more budget-friendly lifestyle. Here are the top 10 states with the lowest cost of living in 2024:
1. Mississippi
Mississippi often ranks at the top of the list for its low cost of living. Housing is especially affordable here, with the median home price significantly lower than the national average. Other expenses like groceries and healthcare are also cheaper, making Mississippi an attractive option for those seeking to stretch their dollar.
2. Arkansas
Arkansas is another state where living costs are much lower than in other parts of the country. Housing in Arkansas is particularly affordable, with rent and home prices well below the national average. Additionally, utilities and groceries tend to be cheaper, making it easier for residents to live comfortably on a modest income.
3. Oklahoma
Oklahoma has a low cost of living across the board, from housing to transportation. Its affordable real estate market and lower-than-average utility costs contribute to making Oklahoma a great place for people looking to reduce their expenses. Additionally, healthcare and education costs are manageable, making it appealing for families.
4. Alabama
In Alabama, housing is incredibly affordable, and the state has one of the lowest property tax rates in the country. Whether you're renting or buying a home, Alabama offers great value for money. The overall cost of healthcare and transportation is also lower here than in most other states, contributing to its spot on this list.
5. West Virginia
West Virginia is known for its scenic landscapes and affordable living. The state offers low housing costs, and utilities and groceries are also relatively inexpensive. For retirees or remote workers seeking peace and quiet, West Virginia provides an affordable option with plenty of outdoor activities to enjoy.
6. Kentucky
Kentucky’s cost of living is well below the national average, with housing and healthcare being the most budget-friendly categories. The state also boasts a low unemployment rate, making it an attractive place for people looking for job stability while maintaining a low cost of living.
7. Tennessee
Tennessee has experienced a population boom in recent years, but it still remains one of the most affordable places to live. Housing prices are reasonable, especially outside of major cities like Nashville. The state’s low tax burden, including no state income tax, makes it appealing for individuals and families alike.
8. Missouri
Missouri offers a mix of urban and rural living, all with affordable costs. Housing, groceries, and healthcare are reasonably priced, and many cities in Missouri provide a good quality of life at a fraction of the cost you might find in other states. It’s a great option for those who want a balance between city life and nature.
9. Kansas
Kansas has one of the most affordable housing markets in the country, with a variety of options for both renters and buyers. The state’s low utility costs and affordable groceries help make everyday expenses more manageable. Kansas also has a lower tax burden compared to many other states.
10. Indiana
Rounding out the list, Indiana is known for its affordable housing and transportation costs. Residents benefit from low property taxes and cheaper utilities. Whether you're living in a small town or a larger city like Indianapolis, Indiana offers a comfortable and affordable lifestyle.
From affordable housing to cheaper groceries and healthcare, they allow residents to maintain a high quality of life without breaking the bank. Whether you're a student, retiree, or working professional, these states offer great places to live for those who prioritize a low cost of living.