15 Cheapest States to Live in the United States
For numerous entrepreneurs, the cost of living is a crucial aspect to take into account when launching a new company. It can be difficult to locate a home to reside in that is both inexpensive and equipped with everything you need, but it’s well worth the work to discover an ideal location before delving into building your startup.
This article will examine the top 15 least expensive places to live in the US, offering details on living expenses and other crucial aspects to take into account before deciding. After reading this article, you’ll know more about which states provide the greatest resources and affordability for business owners.
What are the 15 Cheapest States to Live in the United States?
Here are 15 of the Cheapest States to Live in the United States.
15. Illinois: Average weighted cost of living index of 92.1
The Bureau of Economic Analysis estimates that the annual expenditure of an Illinois citizen is $49,558. Illinois has a 9% cheaper cost of living than the US average. Utilities are 7% less than the national average, but housing is 20% less. In Illinois, the cost of healthcare services including dental work and physical examinations is 3% less than the national average. Basic essentials like food and clothing are less expensive here by about 5% compared to the rest of the nation.
Depending on the city you live in, Illinois has different cost of living variations. Chicago is the most expensive city in Illinois, with a cost of living that is 19% more than the national average and 30% higher than the state average. Decatur is the least expensive big city in Illinois, with a cost of living that is 21% less than the national average and 13% less than the state average.
14. Kentucky: Average weighted cost of living index of 92.0
The average cost of living in Kentucky is $40,816. Kentucky has an 8% cheaper cost of living than the national average cost. Utility costs are 3% greater than the national average, but housing is 23% less. Grocery prices are about 3% cheaper than across the nation, and the prices of essentials such as clothing, are also 3% lower. Also, In comparison to the national average, Kentucky has 12% cheaper healthcare costs for procedures like dental work and physical examinations.
Note that the cost of living differs in Kentucky based on the city in which you reside. The most expensive city in Kentucky is Madisonville, where the cost of living is 10% more than the state average. Covington is the most affordable metropolitan city in Kentucky due to a cost of living 5% lower than the state average and 13% less than the national average.
13. Indiana: Average weighted cost of living index of 91.0
The average annual cost of living in Indiana is $42,697, according to the Bureau of Economic Analysis. With more than 6.8 million happy, amiable people, Indiana blends southern charm with reasonably priced living.
Indiana has a 9% cheaper cost of living than the US average. Utility costs are 4% higher than the national average, but housing is 20% less. Basic needs like food and clothing are less expensive here than they are nationwide by about 6%, with clothing costing 6% less and the cost of healthcare services are 1% less than the national average.
The cost of living In Indiana is not the same in every city in the state. Bloomington is the most expensive city in Indiana, with a cost of living that is 9% greater than the state average. With a cost of living that is 17% less than the national average and 9% less than the state average, Richmond is the least expensive significant city in Indiana.
12. Louisiana: Average weighted cost of living index of 91.0
Depending on where you live in the state, Louisiana has a slightly lower cost of living than other parts of the US. But as is the case with everything else, housing, food, healthcare, and utility costs are rapidly increasing. Therefore, to live comfortably in Louisiana, a single adult must make at least $33,592, while a couple with two children must make a total of $94.390.
The cost of living in Louisiana is slightly more affordable than other places in the country—depending on where in Louisiana you live. However, just like everywhere else, the cost of housing, food, healthcare, and utilities is rising fast. As a result, a single adult needs at least $33,592 to live comfortably in Louisiana, while a couple with two children needs a combined income of $94.390. Utilities are 13% lower and housing is 17% below the national average. In terms of essentials like food and clothing, the cost of groceries is around 4% less than it is nationwide, and the cost of clothing is about 4% less.
In Louisiana, the cost of healthcare services like dental work and physical examinations is 1% less than the national average.
11. Nebraska: Average weighted cost of living index of 90. 9
Nebraska’s cost of living for an individual is $34,519 and $97,688 annually, making it neither the most expensive nor the least expensive state. In Nebraska, the cost of living is 9% less than the national average. Utilities are 13% cheaper and housing is 18% cheaper than the national average.
Food and clothing, which are basic requirements, are around 5% less expensive here than they are nationwide. Clothing prices are also 5% lower.
Depending on the city you live in, Nebraska has different costs of living. Omaha is the most expensive city in Nebraska, with a cost of living that is 7% less than that of the rest of the country and 2% higher than the state average. With a cost of living that is 10% less than the national average and 2% less than the state average, Hastings is the least expensive significant city in Nebraska.
10. Georgia: Average weighted cost of living index of 90. 8
Georgia has a 10% cheaper cost of living than the US as a whole. Utility costs are 12% less than the national average, but housing costs are 20% less. In terms of basic essentials like food and clothing, the cost of groceries is around 4% less than it is nationwide.
Depending on the city you live in, Georgia has different cost of living variations. Dahlonega is the most expensive city in Georgia, with a cost of living that is 8% more than the national average and 19% more than the state average. Statesboro is the least expensive significant city in Georgia, with a cost of living that is 17% less than the national average and 8% less than the state average.
9. Michigan: Average weighted cost of living index of 90. 6
There is a state out there that can assist you in reaching your objectives, whether they be reduced living expenses or a thriving business community. Consequently, before choosing, take your time and consider all of your possibilities. You may position yourself for entrepreneurship success with the appropriate site.
Michigan offers chances for both small-town and city life, as well as four of the five Great Lakes and an inexpensive cost of living. In Michigan, you will require an estimated $34,028 per year to live comfortably. Housing is 13% less than the national average. Food and clothing are examples of basic necessities that are more expensive here than they are elsewhere in the nation. In Michigan, the cost of healthcare services is 2% more than the national average.
8. Iowa: Average weighted cost of living index of 90. 3
One of the lowest cost-of-living states is Iowa. To live comfortably, a single adult would need to make at least $33,654 a year in income. In Iowa City, IA, the cost of living is 6% less than the national average and 1% higher than the state average. Housing costs in Iowa City, IA are 21% lower than the national average, and utility costs are 15% lower.
Basic needs like food and clothing cost about 2% more in Iowa City, IA than they do nationwide. Dental and medical care are 3% less expensive here than they are on average in the United States.
7. Arkansas: Average weighted cost of living index of 89.0
In Arkansas, comfortable living expenses range from $32,336 to $63,021 annually. Arkansas has an 8% cheaper cost of living than the US national average. Basic needs like food and clothing cost 2% more here than they do nationwide, with grocery being the highest by 2% and clothing costing 2% more. In Arkansas, the cost of healthcare services including dental work and physical examinations is 16% less than the national average.
Depending on the city you live in, Arkansas has different costs of living. The most expensive city in Arkansas is Paragould, where the cost of living is 2% more than nationwide and 11% more than the state average. Conway is the least expensive large city in Arkansas, with a cost of living that is 16% less than the national average and 9% less than the state average.
6. Missouri: Average weighted cost of living index of 88.5
The amount of money needed to live comfortably in Missouri is between $33,890 and $77,162 per year. The state has a 10% lower cost of living than the US average. Grocery costs are about 7% lower than the national average, while clothing costs are 7% lower. The cost of healthcare services, such as dental and doctor visits, is 7% lower in Missouri than it is in the US.
Depending on the city you live in, Missouri has different cost of living variations. O’Fallon is the most expensive city in Missouri, with a cost of living that is 10% more than the state average and 1% lower than the national average. Joplin is the least expensive major city in Missouri, with a cost of living that is 17% less than the national average and 8% less than the state average.
5. Alabama: Average weighted cost of living index of 88.3
The estimated monthly cost of living in Alabama for an individual is $2,143. Utility costs are 9% higher than the national average, but housing is 38% less. In terms of basic essentials like food and clothing, the cost of groceries is around 4% less than it is nationwide.
In Alabama, the cost of healthcare services including dental work and physical examinations is 16% less than the national average. Depending on the city you live in, Alabama has different cost of living variations. Tuscaloosa is the most expensive city in Alabama, with a cost of living that is 15% more than the state average and 1% less than the national average.
With a cost of living that is 16% less than the national average and 3% less than the state average, Anniston is the least expensive significant city in Alabama.
4. West Virginia: Average weighted cost of living index of 87.7
West Virginians need to make between $32,144 and $94,345 annually to live comfortably. West Virginia has an 8% cheaper cost of living than the US as a whole. Utilities are 6% lower and housing is 19% below the national average. West Virginia has 6% less healthcare costs than the national average and basic essentials like food and clothing are less expensive here by about 5% compared to the rest of the nation.
Depending on the city you live in, West Virginia has different cost of living variations. The most expensive city in West Virginia is Clarksburg, where the cost of living is 5% less than in the rest of the US and 4% more than the state average. With a cost of living that is 10% less than the national average and 2% less than the state average, Charleston is the least expensive large city in West Virginia
3. Kansas: Average weighted cost of living index of 87.1
A comfortable living in Kansas would cost between $27,378 and $77,687 annually. Kansas has a 12% cheaper cost of living than the US average. Utilities are 2% greater than the national average, whereas housing is 30% less.
Basic needs like food and clothing are less expensive here than they are nationwide with about 8% for grocery and 8% less for clothing. However, the cost of healthcare services, such as dental work and physical examinations, in Kansas is higher than the national average.
Depending on the city you live in, Kansas has different cost of living variations. The most expensive city in Kansas is Spring Hill, where the cost of living is 6% less than in the rest of the country and 7% more than the state average. Topeka is the least expensive large city in Kansas, with a cost of living that is 18% less than the national average and 7% less than the state average.
2. Mississippi: Average weighted cost of living index of 86.3
In Mississippi, you need between $19,068 and $74,201 annually to live comfortably. Mississippi has a 16% cheaper cost of living than the US average. Utilities are 9% cheaper than the national average, whereas housing is 32% cheaper.
Basic essentials like food and clothing are less expensive here than they are across the nation by about 10%. Mississippi offers healthcare services, like dental and medical exams, for a 3% lower cost than the national average.
Depending on the city you live in, Mississippi has different cost of living variations. Hattiesburg is the most expensive city in Mississippi, with a cost of living that is 11% less than the national average and 5% higher than the state average.
Tupelo is the least expensive major city in Mississippi, with a cost of living that is 18% less than the national average and 3% less than the state average.
1. Oklahoma: Average weighted cost of living index of 86.2
In Oklahoma, a minimum annual salary of $29,600 for a single person and $33,480 for a family is recommended to live comfortably. Oklahoma has a cost of living that is 13% less than the US average. Utilities are 5% lower and housing is 28% below the national average.
Oklahoma has 8% less healthcare costs than the national average for procedures like dental work and physical examinations. Groceries are about 8% less expensive than the rest of the nation when it comes to needs like food and clothing.
Depending on the city you live in, Oklahoma has different costs of living. Ada is the most expensive city in Oklahoma, with a cost of living that is 4% less than the national average and 11% more than the state average. Muskogee is the least expensive large city in Oklahoma, with a cost of living that is 21% less than the national average and 9% less than the state average.
Final Thoughts
When beginning a business, the cost of living is one of the most crucial factors to take into account, but it’s not the only one. It’s crucial to conduct a study and choose the place that best meets your needs because every state has a different collection of opportunities and resources. There is a state out there that can assist you in reaching your objectives, whether they be reduced living expenses or a thriving business community. So, before choosing, take your time and consider all of your possibilities. You may position yourself for entrepreneurship success with the appropriate site. Do you have any questions on the cheapest state in the US or would like to make inquiries on how to register a business in the US? Kindly contact Foundeck today for help on how to accomplish this.
