The Most Affordable U.S. States for Cost of Living
The United States comprises 50 distinct states, including Hawaii and Alaska, which joined the Union in 1959. The living conditions can vary significantly across these states due to various factors. Below is a ranking of the states known for having the lowest cost of living:
Mississippi
Mississippi is recognized as the most affordable state in the U.S. in several aspects. The average monthly housing cost is approximately $794, while childcare expenses are the lowest in the nation at about $239 per month. Overall, the cost of living in Mississippi is around 15% lower than the national average, making it also the cheapest state for food and healthcare.
Oklahoma
Ranking second in terms of affordability, Oklahoma boasts low prices for both home purchases and rentals. The average home price is around $124,800, and rental costs are relatively low, averaging about $880 per month. Moreover, Oklahoma’s gas prices are among the lowest in the country, contributing to an overall cost of living that is approximately 15.4% below the national average.
Arkansas
Although Arkansas has the lowest housing costs in the U.S., it ranks third in terms of overall living expenses. This is largely due to its low wages, with average monthly rental costs at around $708 and an average home price of approximately $128,800. Additionally, other living expenses such as food and transportation are also among the most affordable in the country.
Kansas
Kansas ranks fourth among the most affordable states for living costs. It stands out for its economical grocery prices, where one can purchase two liters of milk for about $1.40 and half a kilogram of ground beef for roughly $3.80. The overall cost of living in Kansas is about 12.1% lower than the national average, with rental costs for a small apartment averaging around $820 per month, and residential property values estimated at about $138,000.
Missouri
Missouri is the fifth most affordable state for living costs, characterized by low grocery prices. For instance, a dozen eggs can be purchased for under two dollars, while the price of a medium-sized home averages around $200,000. The overall cost of living is approximately 17.7% below the national average.
The Most Expensive U.S. States for Cost of Living
Understanding the least expensive states for living is essential, and to do this, one must also recognize the most expensive states. Here are the priciest states:
Hawaii
Hawaii is the most expensive state for living costs, exceeding all others in most categories. Shipping expenses for goods significantly contribute to this, being about 88% higher than in other states. The cost of residential property is exceptionally high, with home prices often exceeding half a million dollars, and average monthly rental costs reach about $2,400.
New York
Living expenses in New York are notoriously high, ranging from property prices to childcare costs, which are among the highest in the country. The average cost of residential properties is approximately half a million dollars, a stark contrast to many other states. Additionally, New York’s average household income is the second-highest in the nation, estimated at around $63,970.
Massachusetts
Massachusetts ranks third in terms of high living costs and has the highest individual income in the U.S., approximately $65,680. Additionally, the cost of residential properties hovers around half a million dollars.