These Are The Most (And Least) Expensive States To Move To in 2023 (2024)

FAQs

What is the cheapest state to live in 2023? ›

1. Mississippi. Coming in as the cheapest state to live in in the United States is Mississippi with a cost of living index score of 83.3. It also has the lowest average housing costs in the nation at 33.7% below the national average.

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.

The three cheapest states to move to in terms of housing costs are: West Virginia, with an average price of $123,000; Mississippi, with an average price of $125,000; and Arkansas, with an average house price of 133,600. You can view the 10 cheapest states to move to below.

Hawaii and California are the LEAST affordable places to live in the U.S as incomes fail to keep up with soaring property prices.

One of the most popular states to move to in 2023 is Texas, and for good reason. This state boasts an impressive job market since it is home to many tech companies, startups, and artistic hubs.

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.

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.

Is Florida a cheap state to live in? ›

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.

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.

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.

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.

Considering all the amenities that Florida has to offer, you might be surprised at just how affordable it is. Although the cost of living varies depending on where you live in the state, Florida is much more affordable than many other states. In fact, the cost of living in Florida is about 12% cheaper than Connecticut.

According to the Human Development Index, some countries provide a better quality of life than others. The Human Development Index (HDI) is calculated based on three main factors: life expectancy, education, and per capita income. In 2021, Switzerland was ranked first in the HDI, followed closely by Norway and Iceland.

What States Are Americans Moving To? The most popular state people moved to in 2022 was Florida, while the state people most often moved from was California. Texas was the second-most popular state for Americans on the move, while North Carolina came in third.

Based on the number of homicides, the ten safest states in America are New Hampshire, Vermont, Wyoming, Maine, Rhode Island, North Dakota, South Dakota, Hawaii, Idaho, and Alaska. New Hampshire is the safest state in the US, with just 20 reported homicide incidents.

What states are people leaving the most? ›

Top states residents are leaving

The annual 2022 United Van Lines National Movers study is out! But it wasn't good news for New Jersey or New York. A similar report from United Van Lines showed New Jersey as the top outbound state, followed by Illinois, New York, Michigan, and Wyoming. The full list is below.

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.

Which City Is More Affordable: Los Angeles or New York City? Both NYC and LA are among the most expensive cities in both the U.S. and the world. However, the average cost of living in LA is also 24-27% lower than that of NYC.

To live comfortably in Hawaii, an annual income of around $70,000 to $100,000 for a single person, or $120,000 to $200,000 for a family is recommended. Is it expensive to live in Hawaii? Yes, Hawaii is known for its high cost of living due to factors such as housing, groceries, utilities, and transportation.

The cost of living in Virginia is 0% than the national average. Housing is 4% higher than the national average, while utilities are 1% higher. When it comes to basic necessities such as food and clothing, groceries are around 1% higher than in the rest of the country, while clothing costs 1% higher.

Inflation is so high because many consumers are spending more money than they usually do, and because supply chain issues and global fuel shortages have lingered since the pandemic. That high demand and low supply have led to an increase in prices.

What is the number 1 place to live in the US? ›

Topping the 2023-24 list: Green Bay, Wisconsin. The magazine called Green Bay "The perfect mix of big-city amenities complemented with a Midwestern, small-town feel."

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.

Cost of living

Georgia has an overall score of 93.4, about 10% less than Florida's 102.8. This means that, on average, living in Georgia is slightly more affordable than living in Florida.

Cost of living

It's no surprise that living in Alabama costs less than living in Florida, considering the population of Alabama is almost four times less than that of its neighboring state. Prices are naturally cheaper here because there's less demand for goods and services.

Singapore and New York City tied for the first rank amongst the world's most expensive cities in 2022, pushing Israel's Tel Aviv from the first place in 2021 to the third place in 2022.

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.

Overall, the cost of living in Florida ranks as the 24th highest among states. It is important to note that this index reflects the annual average cost of living in 2021 and does not account for recent price increases due to inflation.

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.

Where in Florida is the cheapest place to live? ›

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.

Find out what income you need to maintain your standard of living in a different city and how much more or less money you need to budget for basic expenses. The cost of living in Montana is 2% higher than the national average. Housing is 5% higher than the national average, while utilities are 10% lower.

The cost of living in Florida is 1% higher than the national average. Housing is 4% higher than the national average, while utilities are 1% higher. When it comes to basic necessities such as food and clothing, groceries are around 2% lower than in the rest of the country, while clothing costs 2% lower.

The cost of living in Colorado is 5% higher than the national average. Housing is 21% higher than the national average, while utilities are 8% lower. When it comes to basic necessities such as food and clothing, groceries are around 1% higher than in the rest of the country, while clothing costs 1% higher.

Cost of living

Looking at those numbers, South Carolina is more affordable than Florida in every category but health care. However, it also has a smaller population and less land mass.

Finding a Financial Advisor in Florida

For example, Florida doesn't have a state income tax while California does. Florida residents only owe federal taxes on their income. On top of that, Florida housing prices are also cheaper than in California.

Key points. Inflation seems to be slowing, and some things could start to get cheaper in 2023. The cost of real estate, rental, cars, and gas could fall, at least a little. Don't get too excited about potential price drops, as there's still a lot of uncertainty about the economy.

Average home price in the United States: $436,800

The median home sales price is $436,800 as of the first quarter of 2023. That's a 32% increase from 2020, when the median was $329,000.

Are food prices going down in 2023? ›

Food prices are expected to grow more slowly in 2023 than in 2022 but still at above historical-average rates. In 2023, all food prices are predicted to increase 6.2 percent, with a prediction interval of 4.9 to 7.5 percent.

While the 2022 COLA adjustment was 5.9%, government inflation data showed costs grew at a faster pace for much of last year. Now, the 8.7% COLA for 2023 is outpacing current inflation, with a 5.8% increase over the past 12 months for the consumer price index for urban wage earners and clerical workers, or CPI-W.

Increases in the prices of eggs, butter, meat, and more are going to make grocery shopping extra expensive this year. Brittany Leitner has been a beauty, lifestyle, and health editor for 10 years.

Fortunately, there are some states that don't charge taxes on retirement income of any kind: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming.

Depending on the state you call home, the typical three-bedroom house can range from the mid- to high-$100,000s to about $900,000. That's why GOBankingRates compiled a study to track the affordability of the three-bedroom house across America.

Homebuyer.com data analysis indicates that, for first-time home buyers, June 2023 is a good time to buy a house relative to later in the year. This article provides an unbiased look at current mortgage rates, housing market conditions, and market sentiment.