The 10 Cheapest States To Buy A House (2024)

FAQs

The 10 Cheapest States To Buy A House? ›

Mississippi

It also has one of the lowest average housing costs in the US and the lowest average transportation costs. On the downside, Mississippi suffers the highest poverty rate in the US, with a poor healthcare system and quality of education.

Mississippi

It also has one of the lowest average housing costs in the US and the lowest average transportation costs. On the downside, Mississippi suffers the highest poverty rate in the US, with a poor healthcare system and quality of education.

That said, the cheapest states to buy real estate in are often those experiencing economic or population declines. Rust Belt states like Pennsylvania, Ohio, Michigan and Indiana all have markets with affordable housing, as do many Southern states, like Alabama and Mississippi.

Indiana is the tenth-cheapest state to live in the United States. Average costs are 10% lower than the national average, and costs in all categories are below the national average.

Mississippi

Mississippi, “The Magnolia State,” is the birthplace of Elvis Presley and the delta blues. It's also the cheapest state to buy a house in 2023. As of 2020, the total state population was 2,961,279, making it the 32nd most populated state. The most populated city is Jackson, with 153,701 residents.

In its report, Niche also ranked the cheapest places to live in the U.S. At the top of the list this year is Brownsville, Texas. Brownsville has been steadily rising in Niche's Lowest Cost of Living ranking over the past few years, placing number six in 2021, number three in 2022 and finally, number one in 2023.

Arkansas. Arkansas is home to some of the lowest-priced lands in the country, with an average price of just $1,071 per acre. This is significantly cheaper than the national average of $7,000 per acre.

What state has the worst cost of living? ›

Hawaii is the state with the highest cost of living in the US, with a cost of living index of 184. The state's high cost of living is mainly due to the high cost of housing, which is among the highest in the nation.

Albuquerque, New Mexico, ranks as the most affordable city in the country for single renters. Studio apartments in Albuquerque go for a median price of $700, and the average single person would only need to spend 15.33% of their income to afford one.

According to several studies on cost of living, Hawaii is the most expensive U.S. state to live in. Prices are typically double in Hawaii compared to those on the mainland, and the continued rise in inflation is making costs ranging from housing to health care much more expensive.

Regarding affordability, the report indicates that Connecticut, Massachusetts, and New Jersey are the most affordable states with Arizona, Nevada, and Florida being the least affordable.

Hawaii is the most expensive state to live in, with a cost of living index of 184. Massachusetts is ranked second, with a cost of living index of 149.7, followed by California at 137.6, and New York at 134.5.

North Dakota takes the cake as the best state in the U.S. to save money in. With the third lowest debt-to-income ratio in the country for Q3 2022—and the second lowest percentage of income spent on housing costs and rent—North Dakotans are able to keep more money in their pockets.

1. Albuquerque, NM. At $700 median rent per month, and a rent cost 15.3 percent of one's income, Albuquerque is the cheapest place to live in America. One of the best things about New Mexico is the sunsets, and this city is no exception.

How to live cheaply? ›

The latest edition of the Best States rankings project finds a new No. 1 and a strong showing from the West and Midwest in the top 10. Utah has taken the No.

Ranch Homes

A home with a simple and concise layout is the cheapest type of house to build. Ranch homes are typically single-story structures with attached garages. They're easy to find construction plans for and highly customizable, so you can find a home that fits your needs and budget.

1. Hawaii. Hawaii is known for its beautiful beaches, warm climate, and breathtaking scenery. However, it is also the most expensive state to buy a house, with a Zillow Home Value Index of $834,582.

Texas is actually one of the more affordable states in the country. Compared to national averages, living expenses here tend to be cheaper — though how much cheaper varies based on where you choose to live in the state.

Montana is a great state for homesteaders looking for wide-open spaces and plenty of natural resources. With its diverse climate and terrain, it's easy to find the perfect spot to start a homestead. Those looking to do off grid living in Montana can also benefit from the state's low cost of living and low taxes.

“Alaska is the best state to settle in if you want complete isolation and don't mind the long winter months. The upside is that the land is cheap, but you'll pay for it with a short growing season. Another benefit is that Alaska has the lowest taxes in the United States.

Mohave County AZ

So for both 1 acre and 5 acre plots, the cheapest states to buy land in 2023 are New Mexico, Arizona, Mississippi, followed by Colorado and California. Some great news for you here is that at Compass Land USA, we do a lot of work in Colorado, and Arizona.

Who has the highest cost of living? ›

1. Singapore. Rent in Singapore is $3,016.21 per month, but its cost-of-living is only slightly more than 14% higher than the U.S. average.

Is it expensive to live in Florida? Though the state has long had a reputation for being an inexpensive place to live, housing costs are high. Rents and sale prices are both well above national averages. However, the overall cost of living in the state is about on par with the national average.

The Highest-Ranked Cities to Live Alone in the U.S.

Our overall winner was Milwaukee, WI, with our runner ups being Cleveland, OH and St. Louis, MO.

SC has 2 of the best, cheapest cities in the US to live in 2023, US News and World Report says.

Ultimately, living solo is a more expensive choice, so if saving money is a huge priority for you, you may want to live with roommates for a year or two until you're more financially stable. However, if you're committed to living alone, there are ways you can do it without breaking the bank completely.

The state with the most expensive groceries in the US is Hawaii. This might not be surprising, given that Hawaii needs to import most of the foods you'd find in an American supermarket from a pretty long distance.

What house can I buy on $100 K? ›

Your budget and financial situation will determine how much you can afford on a 100k salary, but in most cases, you'll likely qualify for a home worth between $350,000 to $500,000.

What Types of Commercial Properties Are the Most Profitable? High-Tenant Properties – Typically, properties with a high number of tenants will give the best return on investment. These properties include RVs, self-storage, apartment complexes, and office spaces.

The most liberal state in the country is Massachusetts, where the equally progressive city of Boston is located. Next is Hawaii, followed by Rhode Island, California, New York, Vermont, Maryland, New Jersey, Connecticut, and Oregon.

Texas. Texas isn't just one of the largest states in the United States and one of the few states without state income taxes, Texas is actually also one of the more affordable states given its 2022 Second Quarter Cost of Living Index of 90.9.

In the three presidential elections since 2008, Indiana and North Carolina went back to supporting Republicans. Virginia has continued voting for the Democratic presidential nominees (as well as increasingly electing Democrats at the state level), leading to its being reclassified as a blue state in recent years.

Based on migration data from the U.S. Census Bureau, Americans are moving to Austin, Texas; Raleigh, North Carolina; Orlando, Florida; Dallas, Texas; and Phoenix, Arizona. The most moved-to cities are based on percentage increases in population since 2010.

Rather, Alabama is the most affordable state to retire in, according to WalletHub's “2023 Best States to Retire.” The analysis compared all 50 states across three key categories: health care, quality of life and affordability.

1. Hawaii. Hawaii is truly a paradise, but it is also the most expensive state in America to live in. The cost of living in Hawaii overall is 86% higher than the national average, and the cost of housing in Hawaii is a jaw-dropping 207% above the national average.

Mississippi is the state with the lowest cost of living in the US, with a cost of living index of 85. This means that the cost of living in Mississippi is 15% lower than the national average. The state has a low cost of housing, groceries, and utilities.

Arkansas. Arkansas is home to some of the lowest-priced lands in the country, with an average price of just $1,071 per acre. This is significantly cheaper than the national average of $7,000 per acre.

Is Texas the cheapest state to live in? ›

Is Texas expensive to live in? No, Texas is veyr affordable relative to other states in the U.S. In fact, the average cost of living there is 8% lower than the national average, according to a Cost of Living Index.

Hawaii. Hawaii is truly a paradise, but it is also the most expensive state in America to live in. The cost of living in Hawaii overall is 86% higher than the national average, and the cost of housing in Hawaii is a jaw-dropping 207% above the national average.

Washington state has the highest quality of life in all 50 states. The state has no income tax, a thriving job market, and great international business opportunities.

With that in mind, a good salary in Texas is between $55K and $73K. To live comfortably anywhere, it helps to track your spending and saving with SoFi Insights. The free budget app also provides credit score monitoring.

What city in the US has the most affordable housing? ›

The cost of living in Tennessee is 10% lower than the national average. Housing is 20% lower than the national average, while utilities are 6% lower. When it comes to basic necessities such as food and clothing, groceries are around 6% lower than in the rest of the country, while clothing costs 6% lower.