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Lowest Cost of Living by State

is... The cost of living in the United States can vary significantly from state to state, depending on various factors such as housing, food, transportation, and healthcare costs. Understanding the lowest cost of living by state can help individuals make informed decisions about where to live, retire, or work. In this article, we'll explore the states with the lowest cost of living in the US, providing insights into their relative affordability and quality of life.

Top 5 States with the Lowest Cost of Living

The following five states offer the lowest cost of living in the US:

• Mississippi
• Arkansas
• Oklahoma
• West Virginia
• Tennessee

Each of these states has a unique advantage when it comes to affordability, with costs ranging from housing and utilities to groceries and transportation.

Mississippi: The Most Affordable State

Mississippi takes the top spot for the lowest cost of living, according to the Council for Community and Economic Research's (C2ER) Cost of Living Index. With a total cost of living index score of 84.6 (with 100 being the national average), Mississippi offers a total cost of living that is approximately 15.4% lower than the national average. Residents enjoy affordable housing costs, with a median home price of $120,000.

• Median home price: $120,000
• Average rent for a 2-bedroom apartment: $740/month
• Gasoline prices: $2.62/gallon

Mississippi's affordability is also reflected in its food prices, with groceries being around 13.2% lower than the national average.

Arkansas: Affordable Housing and Low Utilities

Arkansas comes in second on the list, with a total cost of living index score of 86.3. Residents enjoy affordable housing costs, with the median home price being around $140,000. Utilities are also relatively inexpensive, with average electricity, gas, and water bills totaling around $233 per month.

• Median home price: $140,000
• Average rent for a 2-bedroom apartment: $910/month
• Utility bills (electricity, gas, water): $233/month

Oklahoma: Affordable Lifestyle and Education

Oklahoma boasts an impressive affordability rating, with a total cost of living index score of 87.2. While housing costs are higher than Mississippi and Arkansas, Oklahoma's lower education costs make it an attractive option for families. The University of Oklahoma offers low tuition rates, with in-state students paying around $9,000 per year.

• Median home price: $130,000
• Average rent for a 2-bedroom apartment: $880/month
• Tuition for in-state students at the University of Oklahoma: $9,000/year

West Virginia: Affordable Energy and Low Taxes

West Virginia ranks fourth on the list, with a total cost of living index score of 88.1. The state boasts some of the lowest energy costs in the country, with electricity and gas prices averaging around $123 per month. Additionally, West Virginia has relatively low state income tax rates, with a top rate of 6.5%.

State	Electricity (cents/kWh)	Gas (gallon)
West Virginia	8.7	$2.41
Mississippi	10.2	$2.52
Arkansas	10.5	$2.51
Oklahoma	11.5	$2.57

Tennessee: Natural Beauty and Outdoor Excitement

Tennessee rounds out the top 5, with a total cost of living index score of 89.1. Residents can enjoy a lower overall cost of living, as well as a unique blend of green spaces and city amenities. Median home prices are around $220,000.

• Median home price: $220,000
• Average rent for a 2-bedroom apartment: $930/month
• State income tax rate: 5-7%

When considering the lowest cost of living by state, there are four key steps to keep in mind:

1. Garden City diversity and natural beauty
2. Very cold climate
3. excellent neighborhood schools
4. Fastest growing areas