Top 10 cheapest states to live in the US in 2024

Last updated on April 30th, 2024 at 08:01 am

Are you one of those who are looking for a pocket-friendly state to live in America in 2024? Living in America is expensive, but what if we help you find a state that will make your pocket happy? It would be amazing for you to settle in a cheap but good state.

We are here with a list of top 10 cheapest states to live in the US in 2024. These states are well developed good for professionals, workers, students or researchers too.

1. Mississippi

With a cost of living index score of 83.3, Mississippi is the least expensive state in the union to live in. At 33.7% less than the national average, it also has the lowest average housing expenses in the country. The typical price of a single-family home is $140,818.

Nevertheless, with 19.5% of the population living below the federal poverty line, the state has the highest percentage of poverty in the nation. Mississippi is ranked highly among the worst states to live in due to a combination of its economic difficulties, poor educational system, and general low standard of living.

2. Kansas

With a score of 86.5, the wonderful state of Kansas ranks as the second least expensive place to live. Housing is very inexpensive, ranking third in the country for the lowest cost of housing, with the typical single-family home costing about $176,898. Furthermore, the state’s economy is encouraged by having one of the lowest unemployment rates in the country.

Keep Reading

• ‘Union for Human Rights Association’: Abu Dhabi’s Bold Initiative
• A Closer Look at Dubai’s Tourism Triumph in 2023
• Top 10 fun facts about the Philippines everyone should know
• X’s Social Stars: Unveiling the Top 10 Most Followed Accounts That Dominate the Platform

3. Alabama

With an index score of 87.9, Alabama ranks third for having the lowest total cost of living. This area has the second-cheapest median house price, only surpassed by Mississippi, at $170,184. Although it still ranks among the states with the largest number of people living below the poverty line, transportation, and healthcare expenditures are among the lowest in the nation. Nevertheless, the 2.9% unemployment rate is quite low, which is encouraging.

4. Oklahoma

Oklahoma, with an overall score of 87.9, comes in fourth on our list. In terms of housing, food, and healthcare, it is likewise among the least expensive states. In Oklahoma, the average price of a house is $151,469. In terms of healthcare and education, the state is frequently rated alongside Mississippi. It also has one of the worst poverty rates in the nation, at 15.1%.

5. Georgia

With a total score of 88.8, the Peach State ranks fifth with housing prices that are far lower than normal as well as lower than average for utilities and transportation. In Georgia, the average price of a single-family home is $246,272. Georgia also frequently appears significantly higher on lists of enjoyable states to call home, mostly because of Atlanta’s ongoing status as the commercial center of the South.

6. Tennessee

Tennessee, with a score of 89.0 and ranked sixth lowest, is yet another Southeastern state to make the list. The state has slightly lower housing costs than its neighbor to the south, with a single-family home’s typical price of $230,253. Despite the high percentage of poverty (13.8%), the unemployment rate is still lower than the national average (3.4%). Tennessee’s exemption from the state income tax on earned salaries makes it a desirable destination.

7. Missouri

Missouri has an overall cost of living index score of 89.8, ranking it eighth least expensive. With a typical single-family home price of $194,226 and proximity to two of its more affordable siblings, this state is an excellent middle ground if you’re having problems deciding between the South and the Midwest.

8. Iowa

Adding a little extra Midwestern flare to the list, Iowa (89.9) ranks as the eighth most affordable state to live in. At 11%, Iowa’s poverty rate is lower than the national average, in contrast to several other states on this list. $167,036 is the median price of a single-family house. Due to its robust economy and excellent educational system, this sleeper state is also placed ninth on WalletHub’s list of the best states to live in. It is also by far the most affordable state on our list of states.

9. West Virginia

West Virginia, the state where all rural roads lead, is tenth on the list with a cost of living index of 90.5. With the average price of a single-family home in this Appalachian state being $117,639, it’s among the most economical areas to purchase a property. Due to worries about the status of the school system and economic growth, West Virginia is frequently ranked with Mississippi as one of the worst states to live in, despite having decent home values.

10. Indiana

With a score of 90.6, the wonderful state of Indiana completes our top 10. Even though every expense is less expensive than the national average, Indiana’s housing prices—where the typical single-family house is $185,805—are the primary draw. In terms of rankings for the finest states to live in, Indiana is mediocre overall, but its 2.2% unemployment rate is among the lowest in the nation.

These 10 states, which provide affordability, conveniences, and an excellent standard of living, stand out as the least expensive locations to live in the US in 2024. 

Investigating these states might offer beneficial prospects for financial stability and well-being, regardless of your goals—saving for the future, stretching your budget, or simply enjoying a more economical lifestyle. Every inclination and lifestyle may find an inexpensive state to fit them, from the breathtaking splendor of West Virginia to the rolling hills of Kentucky.