Are you looking for a new place to call home and don’t want to break the bank? The United States has some of the most diverse regions in the world when it comes to the cost of living, ranging from very expensive to surprisingly affordable. In this blog post, we’ll explore the cheapest state to live in in the U.S. based on housing costs, average income, and other factors. Read on to find out what is the cheapest state to live in and what could be the perfect fit for your budget!
What Is The Cheapest State To Live In?
1. Mississippi
Mississippi is widely known as the cheapest state to live in the U.S. This is largely due to its low cost of living and the numerous opportunities it offers. Property values in Mississippi are significantly lower than in other states, making it an ideal place for those looking to purchase a home or rent an apartment for a fraction of what it would cost in other states. The cost of groceries is relatively lower than in other states of the U.S., but the quality of education and healthcare is also very low.
2. Alabama
If you’re looking to save money while living in the United States, you’ve come to the right place. The employment ratio in Alabama is also quite high, providing plenty of job opportunities for residents. Additionally, transportation costs are usually much lower due to the abundance of available public transportation options. The housing cost in beautiful Alabama is below 29.9% of the national average. Due to the poor healthcare system, healthcare costs are also very low.
3. Tennessee
Tennessee is an ideal location to live if you’re looking for a place that is both affordable and enjoyable. With a low cost of living, Tennessee offers its residents many advantages that make it the cheapest state to live in in the United States. This southeastern state has no state income tax on earned salary.
According to the U.S. Bureau of Labour Statistics, the unemployment rate in Tennessee was 3.7% as of April 2021 compared to 6.1% nationally. However, the poverty rate is high.
4. Oklahoma
It is among the least expensive states for housing, food, and healthcare. In Oklahoma, the average housing cost is around $150,000. You can experience all four seasons in Oklahoma, from sweltering summers to moderate winters. Regardless of its tornadoes, average education, and healthcare system, it is still one of the cheapest states to live in in the U.S.
5. Iowa
In addition to being affordable, Iowa also offers a great quality of life. The state has some of the best schools in the nation, a low crime rate, and plenty of recreational activities and entertainment options. It’s also known for its friendly people, vibrant culture, and stunning landscapes.
Iowa is an excellent place to work as well. The state has a thriving economy with plenty of job opportunities in various industries. With its low cost of living and tax rates, you can make more money without worrying about spending too much on taxes.
Therefore, if you want to relocate to an inexpensive state in the U.S. with a high quality of life, these options are definitely worth taking into account.
