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U.S. News ranks states based on the cost of living. See which states have the lowest cost of living.
- Housing Affordability
In measuring the affordability of housing in each state, the...
- Affordability
Which state is the cheapest to live in? US News ranks the...
- Housing Affordability
Jan 17, 2024 · Consequently, Hawaii ranked as the state with the lowest disposable income. Mississippi has the lowest cost of living, with residents spending $32,336 annually—notably $23,155 less than Hawaii.
- Robin Rothstein
- North Dakota
- West Virginia
- Michigan
- Louisiana
- Ohio
- South Dakota
- Missouri
- Kentucky
- Oklahoma
- Arkansas
Low-cost housing, groceries, gas and utilities powerfully propelled North Dakotainto our top spot. Its status as one of the nation’s leading crude oil producers helps keep gasoline and home utility prices low. State and local taxes are also low, ranking ninth-best in the nation. Out-of-pocket health care costs may be a sticking point, however — the...
In second place, West Virginiais a housing haven. It has the lowest median prices for both homebuying and renting; both cost roughly one-fourth as much as in Hawaii, our highest-price state. It also ranks in the top five nationally for its low state and local tax burden. All these are undeniable pluses — but bear in mind that West Virginia’s grocer...
Michiganhas the country’s most affordable health care, judging from its low premiums on job-based insurance. General health care-related expenses make up 16.1% of Michiganders’ monthly outlays, slightly less than the national average of 16.25%. Also attractive: Housing costs are low (but so is supply now — the market has become competitive). All th...
Extremely low property taxes and a median home listing price of roughly $283,500 (11th lowest in the nation) were Louisiana’s ticket to our top 10. Those expecting to need lots of medical care, though, may have second thoughts about the Pelican State, since its health care costs are the eighth-highest in our ranking.
Ohiomade our top 10 because of its low listing prices for homes and moderate rents. Below-average property taxes are a plus. Given middling costs in other categories, money saved on housing shouldn’t all be gobbled up by health care, groceries, gas and utility expenses.
Like its northern sibling, South Dakotaenjoys comparatively cheap groceries and gasoline, but housing is slightly more expensive. Effective state and local tax rates are slightly lower than in North Dakota — two percentage points lower than the average across all states.
The Show-Me State is the eighth-best in the nation for housing costs — and the eighth-worst for gas and utility costs. Moderate state and local taxes and reasonable food prices help Missouriresidents live affordably.
Ranking sixth for both housing and taxes, Kentuckycan be a bargain for big expenses. Its food prices, however, consume 9.1% of monthly expenditures, rendering the state’s grocery bills second-highest in the nation — bad news if you eat like a horse.
Because it ranks in the top 10 states for both low taxes and affordable groceries, Oklahomamakes our list of the top 10 overall. Its main drawback, by our reckoning, is its budget-busting health care (ranked last in the nation). The Commonwealth Fund estimates that in 2021, 14.4% of adults in the state went without care because of cost — over four ...
This state’s housing prices and tax rates both rank in the top 10. However, Arkansas’ weak spot is the large monthly budget bite taken by gasoline and other energy costs. According to Bureau of Economic Analysis (BEA) estimates, these costs consume almost 3.8% of a resident’s monthly expenditures, more than one-and-a-half times the national average...
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Is New York the least affordable state?
1 day ago · Key findings. The most affordable state is Utah, where residents spend the least percentage of their income on necessities (63.3%) and have the most annual income left over ($32,732). New York is...
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Feb 6, 2024 · Here are the 13 states with the lowest cost of living: Kansas; Oklahoma; Mississippi; West Virginia; Alabama; Missouri; Arkansas; Michigan; Georgia; Iowa; Tennessee; Indiana; Illinois; What Is Cost of Living? Cost of living means exactly what it sounds like—it’s the amount it costs to live somewhere! A cost of living index takes all sorts ...
137.6. Massachusetts. 149.7. District of Columbia. 152.2. Least Expensive States 2024. Least Expensive States 2024. The cost of living refers to the costs of covering needs such as food, housing, healthcare, and transportation. Costs of living differ significantly, depending on where one lives, and tend to be higher in urban areas.
