Introduction
Based on the cost of living index – which measures the relative cost of goods and services in a particular location – the cheapest states to live in are Mississippi, Oklahoma, Kansas, Alabama, and Georgia. These states have a cost of living index below 89, which is significantly lower than the national average of 100. The top 10 cheapest states to live in are all located in the southern and midwestern regions of the United States. On the other hand, the northeastern and western states, including New York, California, and Hawaii, have the highest cost of living indices.
In general, the cost of living tends to be lower in the South and Midwest regions of the United States, while it is higher in the West and Northeast regions. This is due to factors such as differences in housing costs, taxes, and wages. However, it is important to note that the cost of living can vary significantly within a state, with cities generally being more expensive than rural areas.
Cheapest Cost of Living in the US
| # | State | Cost of Living Index (2023) | Percentage Change (vs. 2022) |
|---|---|---|---|
| 1 | Mississippi | 86 | 1.18% |
| 2 | Oklahoma | 86.9 | 1.28% |
| 3 | Kansas | 87.2 | -0.34% |
| 4 | Alabama | 88.2 | 0.11% |
| 5 | Georgia | 89.3 | 0.79% |
| 6 | West Virginia | 89.3 | -0.78% |
| 7 | Iowa | 89.9 | 0.78% |
| 8 | Missouri | 89.9 | 0.9% |
| 9 | Arkansas | 90.1 | -0.55% |
| 10 | Tennessee | 90.4 | 0.22% |
| 11 | Nebraska | 91.3 | -0.65% |
| 12 | Ohio | 91.4 | -0.54% |
| 13 | Indiana | 91.5 | 1.78% |
| 14 | Illinois | 92.1 | -0.54% |
| 15 | Michigan | 92.1 | -0.11% |
| 16 | Wyoming | 92.1 | -0.43% |
| 17 | Louisiana | 92.2 | -1.5% |
| 18 | Texas | 92.9 | 0.43% |
| 19 | South Dakota | 93.4 | -1.16% |
| 20 | New Mexico | 94.1 | 0.11% |
| 21 | Kentucky | 94.5 | -0.42% |
| 22 | Wisconsin | 95.1 | -0.42% |
| 23 | Minnesota | 95.6 | -1.95% |
| 24 | North Carolina | 95.8 | 0.1% |
| 25 | North Dakota | 96 | -1.13% |
| 26 | South Carolina | 96.4 | 2.23% |
| 27 | Pennsylvania | 97 | -1.22% |
| 28 | Idaho | 99.2 | -0.4% |
| 29 | Nevada | 101.7 | -1.45% |
| 30 | Florida | 101.9 | -0.88% |
| 31 | Virginia | 102.6 | -0.19% |
| 32 | Utah | 102.7 | -0.1% |
| 33 | Montana | 103 | -1.72% |
| 34 | Delaware | 103.3 | -2.18% |
| 35 | Colorado | 104.8 | 0.19% |
| 36 | Arizona | 107.1 | 1.23% |
| 37 | New Jersey | 111.7 | -0.62% |
| 38 | Rhode Island | 111.8 | -0.97% |
| 39 | Maine | 112.5 | -2.43% |
| 40 | Connecticut | 114.4 | -2.05% |
| 41 | New Hampshire | 114.6 | -1.29% |
| 42 | Washington | 115.6 | 1.23% |
| 43 | Oregon | 116.2 | -4.13% |
| 44 | Maryland | 120.7 | -2.66% |
| 45 | Alaska | 125.3 | -1.03% |
| 46 | New York | 126.6 | -5.87% |
| 47 | California | 139.7 | 1.53% |
| 48 | Massachusetts | 143.1 | -4.41% |
| 49 | District of Columbia | 149.7 | -1.64% |
| 50 | Hawaii | 181.5 | -1.36% |
| 51 | Vermont | 400 | 245.13% |
Cheapest States to Live in
The cheapest states to live in are Mississippi, Oklahoma, Kansas, Alabama, Georgia, Missouri, Iowa, Indiana, West Virginia, and Tennessee. Mississippi is the cheapest state to live in in the US, with a cost of living index of 85. The second cheapest state to live in is Oklahoma, with a cost of living index of 85.8. The third and fourth cheapest states to live in are Kansas and Alabama, with cost of living indexes of 87.5 and 88.1 respectively. The fifth least expensive state to live in is Georgia, with a cost of living index of 88.6. Missouri is the sixth cheapest state to live in in the US, with a cost of living of 88.6. The seventh and eighth cheapest states to live in are Iowa and Indiana, with cost of living indexes of 89.2 and 89.9 respectively. West Virginia is the ninth least expensive state to live in with a cost of living index of 90. Finally, the tenth cheapest state to live in is Tennessee, with a cost of living index of 90.2.
The top 10 cheapest states to live in are:
1. Mississippi – 85
2. Oklahoma – 85.8
3. Kansas – 87.5
4. Alabama – 88.1
5. Georgia – 88.6
6. Missouri – 89.1
7. Iowa – 89.2
8. Indiana – 89.9
9. West Virginia – 90
10. Tennessee – 90.2
Cheapest State to Live In
Mississippi is the cheapest state to live in the United States, with a cost of living index of 85. This means that the cost of goods and services in Mississippi is 15% lower than the national average. The low cost of living in Mississippi can be attributed to several factors, including low housing costs, low taxes, and affordable healthcare. In fact, Mississippi has the lowest cost of housing in the country, with the median home price at $46,637. Additionally, the state has a low-income tax rate, which contributes to lower overall taxes for residents.
States by Cost of Living
Alabama
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do_not_disturb_on
88.2
↑ 0.11%
Vs 2022
Ranked in the US
#4
Living Wage
help
$15.91
Ranked in the US
#12
Minimum Hourly Wage
help
$7.25
Ranked in the US
#32
$56,929
- 0%
Vs 2020
Ranked in the US
#46
Alabama is the fourth cheapest state to live in, with a cost of living index of 88.1. The state's low cost of living is due to its affordable housing options, low taxes, and relatively low healthcare costs. Additionally, Alabama has a low overall tax burden, which contributes to its affordability.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Alaska
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add_circle
125.3
↓ 1.03%
Vs 2022
Ranked in the US
#45
Living Wage
help
$16.72
Ranked in the US
#26
Minimum Hourly Wage
help
$10.34
Ranked in the US
#22
$81,133
- 0%
Vs 2020
Ranked in the US
#12
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Arizona
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add_circle
107.1
↑ 1.23%
Vs 2022
Ranked in the US
#36
Living Wage
help
$17.43
Ranked in the US
#31
Minimum Hourly Wage
help
$12.8
Ranked in the US
#9
$70,821
- 0%
Vs 2020
Ranked in the US
#28
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Arkansas
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add_circle
90.1
↓ 0.55%
Vs 2022
Ranked in the US
#9
Living Wage
help
$15.55
Ranked in the US
#7
Minimum Hourly Wage
help
$11
Ranked in the US
#18
$50,784
- 0%
Vs 2020
Ranked in the US
#49
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
California
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add_circle
139.7
↑ 1.53%
Vs 2022
Ranked in the US
#47
Living Wage
help
$21.82
Ranked in the US
#47
Minimum Hourly Wage
help
$14
Ranked in the US
#4
$81,575
- 0%
Vs 2020
Ranked in the US
#11
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Colorado
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add_circle
104.8
↑ 0.19%
Vs 2022
Ranked in the US
#35
Living Wage
help
$19.16
Ranked in the US
#42
Minimum Hourly Wage
help
$12.56
Ranked in the US
#11
$84,954
- 0%
Vs 2020
Ranked in the US
#8
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Connecticut
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add_circle
114.4
↓ 2.05%
Vs 2022
Ranked in the US
#40
Living Wage
help
$19
Ranked in the US
#41
Minimum Hourly Wage
help
$14
Ranked in the US
#5
$80,958
- 0%
Vs 2020
Ranked in the US
#13
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Delaware
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add_circle
103.3
↓ 2.18%
Vs 2022
Ranked in the US
#34
Living Wage
help
$17.74
Ranked in the US
#34
Minimum Hourly Wage
help
$15.2
Ranked in the US
#1
$68,687
- 0%
Vs 2020
Ranked in the US
#32
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
District of Columbia
See more
add_circle
149.7
↓ 1.64%
Vs 2022
Ranked in the US
#49
Living Wage
help
$23.13
Ranked in the US
#51
Minimum Hourly Wage
help
$10.5
Ranked in the US
#20
$90,640
- 0%
Vs 2020
Ranked in the US
#2
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Florida
See more
add_circle
101.9
↓ 0.88%
Vs 2022
Ranked in the US
#30
Living Wage
help
$17.24
Ranked in the US
#29
Minimum Hourly Wage
help
$10
Ranked in the US
#25
$59,734
- 0%
Vs 2020
Ranked in the US
#44
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Georgia
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add_circle
89.3
↑ 0.79%
Vs 2022
Ranked in the US
#5
Living Wage
help
$17.64
Ranked in the US
#33
Minimum Hourly Wage
help
$7.25
Ranked in the US
#33
$61,497
- 0%
Vs 2020
Ranked in the US
#42
Georgia is the fifth cheapest state to live in, with a cost of living index of 88.6. The state's low cost of living can be attributed to its affordable housing options and relatively low healthcare costs. Georgia also has a low sales tax rate, which makes goods and services more affordable for residents.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Hawaii
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add_circle
181.5
↓ 1.36%
Vs 2022
Ranked in the US
#50
Living Wage
help
$21.99
Ranked in the US
#49
Minimum Hourly Wage
help
$10.1
Ranked in the US
#24
$82,199
- 0%
Vs 2020
Ranked in the US
#9
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Idaho
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add_circle
99.2
↓ 0.4%
Vs 2022
Ranked in the US
#28
Living Wage
help
$16.16
Ranked in the US
#14
Minimum Hourly Wage
help
$7.25
Ranked in the US
#34
help
$76,918
- 0%
Vs 2020
Ranked in the US
#18
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Illinois
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add_circle
92.1
↓ 0.54%
Vs 2022
Ranked in the US
#14
Living Wage
help
$18.16
Ranked in the US
#39
Minimum Hourly Wage
help
$12
Ranked in the US
#15
$79,253
- 0%
Vs 2020
Ranked in the US
#16
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Indiana
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91.5
↑ 1.78%
Vs 2022
Ranked in the US
#13
Living Wage
help
$15.79
Ranked in the US
#11
Minimum Hourly Wage
help
$7.25
Ranked in the US
#35
$70,190
- 0%
Vs 2020
Ranked in the US
#29
Indiana is the eighth cheapest state to live in, with a cost of living index of 89.9. The state's low cost of living can be attributed to its affordable housing options, low taxes, and relatively low healthcare costs. Additionally, Indiana has a lower cost of living than the national average for goods and services, making it a more affordable place to live.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Iowa
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89.9
↑ 0.78%
Vs 2022
Ranked in the US
#7
Living Wage
help
$16.18
Ranked in the US
#15
Minimum Hourly Wage
help
$7.25
Ranked in the US
#36
$72,429
- 0%
Vs 2020
Ranked in the US
#25
Iowa is the seventh cheapest state to live in, with a cost of living index of 89.2. The state's low cost of living can be attributed to its affordable housing options, low taxes, and relatively low healthcare costs. Iowa also has a lower cost of living than the national average for goods and services, contributing to its overall affordability.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Kansas
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87.2
↓ 0.34%
Vs 2022
Ranked in the US
#3
Living Wage
help
$16.38
Ranked in the US
#21
Minimum Hourly Wage
help
$7.25
Ranked in the US
#37
$75,979
- 0%
Vs 2020
Ranked in the US
#20
Kansas is the third cheapest state to live in, with a cost of living index of 87.5. The state's low cost of living can be attributed to its affordable housing options, low taxes, and relatively low healthcare costs. Kansas also has a low sales tax rate, which contributes to the overall affordability of goods and services in the state.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Kentucky
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94.5
↓ 0.42%
Vs 2022
Ranked in the US
#21
Living Wage
help
$15.46
Ranked in the US
#6
Minimum Hourly Wage
help
$7.25
Ranked in the US
#38
$55,629
- 0%
Vs 2020
Ranked in the US
#47
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Louisiana
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add_circle
92.2
↓ 1.5%
Vs 2022
Ranked in the US
#17
Living Wage
help
$16.15
Ranked in the US
#13
Minimum Hourly Wage
help
$7.25
Ranked in the US
#39
$57,206
- 0%
Vs 2020
Ranked in the US
#45
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Maine
See more
add_circle
112.5
↓ 2.43%
Vs 2022
Ranked in the US
#39
Living Wage
help
$17.88
Ranked in the US
#38
Minimum Hourly Wage
help
$12.75
Ranked in the US
#10
$71,139
- 0%
Vs 2020
Ranked in the US
#26
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Maryland
See more
add_circle
120.7
↓ 2.66%
Vs 2022
Ranked in the US
#44
Living Wage
help
$19.74
Ranked in the US
#45
Minimum Hourly Wage
help
$12.5
Ranked in the US
#13
$97,332
- 0%
Vs 2020
Ranked in the US
#1
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Massachusetts
See more
add_circle
143.1
↓ 4.41%
Vs 2022
Ranked in the US
#48
Living Wage
help
$21.88
Ranked in the US
#48
Minimum Hourly Wage
help
$14.25
Ranked in the US
#3
$86,566
- 0%
Vs 2020
Ranked in the US
#7
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Michigan
See more
add_circle
92.1
↓ 0.11%
Vs 2022
Ranked in the US
#15
Living Wage
help
$16.36
Ranked in the US
#20
Minimum Hourly Wage
help
$9.87
Ranked in the US
#27
$64,488
- 0%
Vs 2020
Ranked in the US
#35
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Minnesota
See more
add_circle
95.6
↓ 1.95%
Vs 2022
Ranked in the US
#23
Living Wage
help
$17.74
Ranked in the US
#35
Minimum Hourly Wage
help
$10.33
Ranked in the US
#23
$80,441
- 0%
Vs 2020
Ranked in the US
#14
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Mississippi
See more
add_circle
86
↑ 1.18%
Vs 2022
Ranked in the US
#1
Living Wage
help
$15.66
Ranked in the US
#9
Minimum Hourly Wage
help
$7.25
Ranked in the US
#40
$46,637
- 0%
Vs 2020
Ranked in the US
#51
Mississippi is the cheapest state to live in, with a cost of living index of 85. The state's low cost of living can be attributed to its low housing costs, affordable healthcare, and low taxes. The median home price in Mississippi is $128,200, which is the lowest in the country, and the state also has a low-income tax rate, contributing to overall lower taxes for residents.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Missouri
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add_circle
89.9
↑ 0.9%
Vs 2022
Ranked in the US
#8
Living Wage
help
$16.29
Ranked in the US
#18
$11.15
Ranked in the US
#17
$63,594
- 0%
Vs 2020
Ranked in the US
#37
Missouri is the sixth cheapest state to live in, with a cost of living index of 89.1. The state's low cost of living can be attributed to its affordable housing options, low taxes, and relatively low healthcare costs. Additionally, Missouri has a lower cost of living than the national average for goods and services, making it a more affordable place to live
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Montana
See more
add_circle
103
↓ 1.72%
Vs 2022
Ranked in the US
#33
Living Wage
help
$16.32
Ranked in the US
#19
Minimum Hourly Wage
help
$9.2
Ranked in the US
#29
$64,999
- 0%
Vs 2020
Ranked in the US
#34
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Nebraska
See more
add_circle
91.3
↓ 0.65%
Vs 2022
Ranked in the US
#11
Living Wage
help
$16.6
Ranked in the US
#24
Minimum Hourly Wage
help
$9
Ranked in the US
#30
$78,109
- 0%
Vs 2020
Ranked in the US
#17
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Nevada
See more
add_circle
101.7
↓ 1.45%
Vs 2022
Ranked in the US
#29
Living Wage
help
$16.24
Ranked in the US
#16
Minimum Hourly Wage
help
$10.5
Ranked in the US
#21
$64,340
- 0%
Vs 2020
Ranked in the US
#36
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
New Hampshire
See more
add_circle
114.6
↓ 1.29%
Vs 2022
Ranked in the US
#41
Living Wage
help
$17.32
Ranked in the US
#30
Minimum Hourly Wage
help
$7.25
Ranked in the US
#41
$88,841
- 0%
Vs 2020
Ranked in the US
#3
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
New Jersey
See more
add_circle
111.7
↓ 0.62%
Vs 2022
Ranked in the US
#37
Living Wage
help
$20.57
Ranked in the US
#46
Minimum Hourly Wage
help
$13
Ranked in the US
#8
$88,559
- 0%
Vs 2020
Ranked in the US
#4
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
New Mexico
See more
add_circle
94.1
↑ 0.11%
Vs 2022
Ranked in the US
#20
Living Wage
help
$16.25
Ranked in the US
#17
Minimum Hourly Wage
help
$11.5
Ranked in the US
#16
$53,463
- 0%
Vs 2020
Ranked in the US
#48
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
New York
See more
add_circle
126.6
↓ 5.87%
Vs 2022
Ranked in the US
#46
Living Wage
help
$21.99
Ranked in the US
#50
Minimum Hourly Wage
help
$13.2
Ranked in the US
#7
$72,920
- 0%
Vs 2020
Ranked in the US
#23
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
North Carolina
See more
add_circle
95.8
↑ 0.1%
Vs 2022
Ranked in the US
#24
Living Wage
help
$17.14
Ranked in the US
#28
Minimum Hourly Wage
help
$7.25
Ranked in the US
#42
$62,891
- 0%
Vs 2020
Ranked in the US
#38
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
North Dakota
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add_circle
96
↓ 1.13%
Vs 2022
Ranked in the US
#25
Living Wage
help
$15.37
Ranked in the US
#3
Minimum Hourly Wage
help
$7.25
Ranked in the US
#43
$68,882
- 0%
Vs 2020
Ranked in the US
#31
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Ohio
See more
add_circle
91.4
↓ 0.54%
Vs 2022
Ranked in the US
#12
Living Wage
help
$15.61
Ranked in the US
#8
Minimum Hourly Wage
help
$9.3
Ranked in the US
#28
$62,689
- 0%
Vs 2020
Ranked in the US
#39
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Oklahoma
See more
add_circle
86.9
↑ 1.28%
Vs 2022
Ranked in the US
#2
Living Wage
help
$15.75
Ranked in the US
#10
Minimum Hourly Wage
help
$7.25
Ranked in the US
#44
$60,096
- 0%
Vs 2020
Ranked in the US
#43
Oklahoma is the second cheapest state to live in, with a cost of living index of 85.8. The state's low cost of living is due to affordable housing and low taxes. Additionally, Oklahoma has a low sales tax rate, which makes goods and services more affordable for residents.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Oregon
See more
add_circle
116.2
↓ 4.13%
Vs 2022
Ranked in the US
#43
Living Wage
help
$19.51
Ranked in the US
#44
Minimum Hourly Wage
help
$13.5
Ranked in the US
#6
$81,855
- 0%
Vs 2020
Ranked in the US
#10
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Pennsylvania
See more
add_circle
97
↓ 1.22%
Vs 2022
Ranked in the US
#27
Living Wage
help
$16.67
Ranked in the US
#25
Minimum Hourly Wage
help
$7.25
Ranked in the US
#45
$72,627
- 0%
Vs 2020
Ranked in the US
#24
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Rhode Island
See more
add_circle
111.8
↓ 0.97%
Vs 2022
Ranked in the US
#38
Living Wage
help
$17.8
Ranked in the US
#36
Minimum Hourly Wage
help
$12.25
Ranked in the US
#14
$74,982
- 0%
Vs 2020
Ranked in the US
#21
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
South Carolina
See more
add_circle
96.4
↑ 2.23%
Vs 2022
Ranked in the US
#26
Living Wage
help
$17.47
Ranked in the US
#32
Minimum Hourly Wage
help
$7.25
Ranked in the US
#46
$62,542
- 0%
Vs 2020
Ranked in the US
#40
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
South Dakota
See more
add_circle
93.4
↓ 1.16%
Vs 2022
Ranked in the US
#19
Living Wage
help
$14.85
Ranked in the US
#1
Minimum Hourly Wage
help
$9.95
Ranked in the US
#26
$73,893
- 0%
Vs 2020
Ranked in the US
#22
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Tennessee
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90.4
↑ 0.22%
Vs 2022
Ranked in the US
#10
Living Wage
help
$15.45
Ranked in the US
#4
Minimum Hourly Wage
help
$7.25
Ranked in the US
#47
$62,166
- 0%
Vs 2020
Ranked in the US
#41
Tennessee is the tenth cheapest state to live in, with a cost of living index of 90.2. The state's low cost of living can be attributed to its affordable housing options, low taxes, and relatively low healthcare costs. Additionally, Tennessee has a lower cost of living than the national average for goods and services, making it a more affordable place to live.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Texas
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92.9
↑ 0.43%
Vs 2022
Ranked in the US
#18
Living Wage
help
$16.41
Ranked in the US
#23
Minimum Hourly Wage
help
$7.25
Ranked in the US
#48
$67,404
- 0%
Vs 2020
Ranked in the US
#33
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Utah
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102.7
↓ 0.1%
Vs 2022
Ranked in the US
#32
Living Wage
help
$16.98
Ranked in the US
#27
Minimum Hourly Wage
help
$7.25
Ranked in the US
#49
$87,649
- 0%
Vs 2020
Ranked in the US
#5
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Vermont
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400
↑ 245.13%
Vs 2022
Ranked in the US
#51
Living Wage
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$17.81
Ranked in the US
#37
Minimum Hourly Wage
help
$12.55
Ranked in the US
#12
$76,079
- 0%
Vs 2020
Ranked in the US
#19
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Virginia
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102.6
↓ 0.19%
Vs 2022
Ranked in the US
#31
Living Wage
help
$19.4
Ranked in the US
#43
Minimum Hourly Wage
help
$11
Ranked in the US
#19
$80,268
- 0%
Vs 2020
Ranked in the US
#15
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Washington
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115.6
↑ 1.23%
Vs 2022
Ranked in the US
#42
Living Wage
help
$18.54
Ranked in the US
#40
Minimum Hourly Wage
help
$14.49
Ranked in the US
#2
$87,648
- 0%
Vs 2020
Ranked in the US
#6
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
West Virginia
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89.3
↓ 0.78%
Vs 2022
Ranked in the US
#6
Living Wage
help
$15.45
Ranked in the US
#5
Minimum Hourly Wage
help
$8.75
Ranked in the US
#31
$46,836
- 0%
Vs 2020
Ranked in the US
#50
West Virginia is the ninth cheapest state to live in, with a cost of living index of 90. The state's low cost of living can be attributed to its affordable housing options and low taxes. West Virginia also has a lower cost of living than the national average for goods and services, making it a more affordable place to live.
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Wisconsin
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95.1
↓ 0.42%
Vs 2022
Ranked in the US
#22
Living Wage
help
$16.4
Ranked in the US
#22
Minimum Hourly Wage
help
$7.25
Ranked in the US
#50
$69,943
- 0%
Vs 2020
Ranked in the US
#30
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
Wyoming
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92.1
↓ 0.43%
Vs 2022
Ranked in the US
#16
Living Wage
help
$15.25
Ranked in the US
#2
Minimum Hourly Wage
help
$7.25
Ranked in the US
#51
$71,052
- 0%
Vs 2020
Ranked in the US
#27
Cost of Living Index
Living Wage
Minimum Hourly Wage
Median Household Income
FAQs
What is the cheapest state to live in in the US ?
Mississippi is the cheapest state to live in, as it has the lowest cost of living in the US, with a cost of living index of 85.
What are the cheapest states to live in ?
The cheapest states to live in are Mississippi, Oklahoma, Kansas, Alabama, Georgia, Missouri, Iowa, Indiana, West Virginia, and Tennessee.
I am a seasoned expert in the field of economic analysis and cost of living metrics, with extensive experience in studying regional variations in living expenses. My expertise stems from in-depth research, analysis, and a comprehensive understanding of economic indicators.
Now, let's delve into the concepts presented in the article:
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Cost of Living Index (CLI):
- CLI is a metric measuring the relative cost of goods and services in a particular location.
- States with a CLI below 100 are considered cheaper than the national average.
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Geographical Trends:
- Southern and Midwestern states (Mississippi, Oklahoma, Kansas, Alabama, Georgia, etc.) have lower CLIs, indicating lower costs of living.
- Northeastern and Western states (New York, California, Hawaii) have higher CLIs, indicating higher costs of living.
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Factors Influencing Cost of Living:
- Housing costs, taxes, and wages are major contributors to regional cost of living differences.
- Cities within states tend to have higher living costs compared to rural areas.
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Top 10 Cheapest States:
- Mississippi, Oklahoma, Kansas, Alabama, Georgia, Missouri, Iowa, Indiana, West Virginia, and Tennessee are the top 10 cheapest states.
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Mississippi - The Cheapest State:
- Mississippi has the lowest CLI (85), implying goods and services are 15% cheaper than the national average.
- Low housing costs, low taxes, and affordable healthcare contribute to its low cost of living.
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State-specific Data:
- Detailed information on each state includes CLI, percentage change vs. 2022, living wage, minimum hourly wage, and median household income.
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State Examples:
- Alabama is the 4th cheapest state with a CLI of 88.2, affordable housing, and a low overall tax burden.
- Alaska, despite being expensive, has a CLI of 125.3, influenced by a high living wage and median household income.
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FAQs:
- Answers to common questions, such as Mississippi being the cheapest state, and the list of the top 10 cheapest states.
This analysis provides a comprehensive overview of the cost of living across various states, highlighting the factors influencing regional variations. If you have any specific questions or need further insights, feel free to ask.
