States With Lowest Cost Of Living In The USA-Making ends meet might be difficult even if you can make a decent livelihood, especially when you take into account the cost of living. Compared to other States, some have lower costs of living.
The ability to live within your income and enjoy life without worrying about how you’ll pay for food or keeping up with heavy taxes each year is made possible by low cost of living. In this article, we will be listing out 10 states with the lowest cost of living, we hope it helps you decide which state best suits your interest.
Ten States With Lowest Cost Of Living In The USA
If you want to find a state with low taxes and living costs, look no further than Arkansas. This southern state boasts low income and sales tax rates and some of the country’s cheapest housing prices. Arkansas is one of only two states where you can buy a house for less than $100,000!
Kentucky has a lower cost of living than most states and is one of the most affordable places to live. The median home price in Kentucky is $140,000, compared to $197,500 nationwide. Residents expect to pay an average of $3,215 on utilities (including gas and electricity) which is about 20% less than the national average. For those looking for higher wages or benefits at their jobs. This state may not be for you – but if you want your dollar to stretch farther, it’s a good place to start!
Louisiana is one of the states with the lowest cost of living, so it may be a good place to start your new life. Louisiana’s average monthly housing costs are $769, while their food costs come in at $366. The state’s average monthly expenditures total $1,133 – over $100 per day!
Mississippi is one of the states with the lowest cost of living, meaning it’s affordable. This state also has a low poverty rate and low housing and utility costs. The state’s capital city, Jackson, is home to four colleges and universities, making it a great destination for students. Also, they have the Children’s Bill of Rights, which guarantees that children can get an education without discrimination or prejudice based on race, sex, color or national origin. With all these benefits combined, Mississippians are very happy with their quality of life!
Missouri is one of the ten states with the lowest cost of living, making it a great place to live and start a new business. With no state income tax, low property taxes and reasonable housing costs, you can keep more of your earnings for yourself. Missouri’s small population means less traffic congestion and long commute times. The Missouri Department of Economic Development provides assistance to startups and businesses looking to move or expand their operations in their jurisdiction.
Oklahoma might not be a state that immediately springs to mind when you think about where to live. But it is one of the best states for people looking for a low-cost place to call home. The state has one of the country’s lowest property and gas tax rates. Low costs also extend to utility bills and car insurance premiums. With such low expenses, Oklahoma residents can dedicate more money to things they enjoy without worrying about their budget.
Tennessee is among the ten states with the lowest cost of living. The state’s low cost of living can be attributed to various factors. Tennessee has no personal income tax, and its median home price is less than $100,000. Tennessee is also among the states with lower costs for utilities and healthcare.
You may be surprised to learn that Texas is one of the states with the lowest cost of living. With a lower gas tax and cheaper groceries, it’s no wonder people are moving to Texas. There are many reasons to consider moving to this great state. Low taxes, affordable housing and plenty of job opportunities.
West Virginia is ranked as the state with the lowest cost of living. This is due to its low housing costs and high-income levels. The median home value is $136,000, while the median household income is $43,410.
Wyoming has the lowest cost of living. The average Wyoming resident spends $21,203 per year on general expenses. The state also has a low median income.
Many factors determine a state’s cost of living, so it is difficult to compare different states side by side. But it is easy to see that some states have a much lower cost of living than others. There are many ways to calculate the actual cost of living for any given state. This post uses five simple metrics. Housing, transportation, utilities, groceries and miscellaneous goods and services. You can relocate to any of the states mentioned above to enjoy your life and spend less.
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