What is the cheapest state to live in? Top 10 least expensive states to live in (2024)

FAQs

What is the cheapest state to live in? Top 10 least expensive states to live in? ›

Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi's housing costs are the lowest in the nation.

Mississippi has the lowest cost of living in the United States. With a cost of living index of 83.3, expenses are nearly 17% less than the national average. Mississippi's housing costs are the lowest in the nation.

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.

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.

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 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.

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.

What state has the highest prices? ›

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.

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.

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.

InMyArea.com performed a study that took a look at the median prices per acre in 2021 and found that Arizona had the cheapest median cost per acre, at $4,164. The data includes the price of land with existing homes and the cost of land designated as a homesite was also included so that you can have some comparison.

The ten most expensive states to live in are Hawaii, Massachusetts, California, New York, Alaska, Maryland, Oregon, Connecticut, New Hampshire, and Vermont. Hawaii is the most expensive state to live in, with a cost of living index of 184.

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.

The top five states for healthcare access are: Hawaii. Connecticut. Massachusetts.

Massachusetts and Minnesota were the two states with the highest living standards in the U.S., according to the study. Neither state has the highest cost-of-living adjusted consumption (that's North Dakota); this is a measure of what you can buy with your income.

What U.S city has the highest cost of living? ›

You may find it challenging, especially when it comes to finding a place to live. But if you share a home and other expenses, find affordable health care, and budget carefully, $30,000 a year could be enough to get by on in Florida.

Rental properties in Florida start as low as $300 to $500 per week for two bedroom homes and up to $1,700 a month for some of the larger properties. Many of the rental properties overlook beach-side or oceanfronts and are located in quiet areas. The quiet and privacy is a big plus, often most desirable to vacationers.

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.

Texas has a cost of living index of 92.1 and a median household income of $75,100, the study said, making it one of the most affordable states to buy a home in. The median home value in Texas reached $325,000 in the first quarter of 2022, an 18.6% increase from the first quarter of 2021, according to Texas Realtors.

Warm and tax-friendly, living in Texas is a great idea. With many diverse cities and endless job opportunities, Texas is a popular destination for young professionals, families, and retirees. Compared to living in Florida, Texas is slightly cheaper and just as warm as the sunshine state.

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.

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 Dubai cheap or expensive? ›

Dubai isn't actually much more expensive than London, New York, and other big cities. However, Dubai's not a very walkable city. Jaywalking is illegal, and crossings are few and far between. Taxi prices aren't too expensive but taking them often can add up.

California, the largest economy in the United States, has a GDP of $3.5 trillion and a GDP per capita of $89,540. The state's economy is diverse, with significant contributions from industries such as entertainment, technology, agriculture, and manufacturing.

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.

What state has the highest gas prices? The state with the most expensive average gas prices right now is California, as it has been during most of this gas prices crisis, and it currently costs an average of 4.86 dollars per gallon in this state.

In the last quarter of 2022, two of the ten most expensive cities in the United States for business travel when it comes to food costs were located in California. However, the ranking was topped by Honolulu, which average daily food cost amounted to 135.3 U.S. dollars at that time.

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.

Florida residents enjoy the 32nd-lowest cost of living in the United States, per MERIC data gathered in 2022.

Average Cost of Living in Texas: $45,114 per year

According to 2021 data from the Bureau of Economic Analysis the average total personal consumption cost in Texas is $45,114 per year. Here's how that breaks down. That's $3,760 a month, per person, on average.

What is the most expensive state? ›

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.

That state is Missouri. The results from Sporcle's “US States Quiz” make it clear that Missouri is the most forgotten state. The quiz has been attempted by players more than 19 million times, and Missouri is the state the lowest percent of people guess correctly.

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.

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.

Most people think of a sunny beach when they hear the word "relaxation," but recent data shows that South Dakota is the most relaxed state in the US.

Alaska. Perhaps the wildest state in the entire country, Alaska is home to plenty of remote and untouched lands. Alaska Maritime National Wildlife Refuge consists of 2,400 islands, headlands, rocks, islets, spires and reefs, with a total area of 4.9 million acres—more than half of which is wilderness.

For example, most of Alaska uses Alaska Time, which spans three standard time zones. The state used two time zones until 1983, when it placed the capital, Juneau, in the same time zone as the more populous Anchorage and Fairbanks.

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.

The cheapest way to build a home is to design a simple box. Sticking to a square or rectangular floor plan makes the building and design simple. Generally speaking, building up is cheaper than building a sprawling one-story home, so you may want to consider planning for a multiple-story home if you need more space.

What is the cheapest form of house to build? ›

Ranch-style homes are not only popular but also one of the most cost-efficient home styles to build. These homes typically come in a rectangular shape, though many resemble “T” or “S” shapes. The ranch style's simple layout reduces complications in construction.