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If you’re looking to relocate, the cost of living is an important factor in your decision. When moving hundreds upon thousands of miles, you want to ensure you and your family can afford to live in the new living space. Some states in the United States are more affordable than others. When considering moving, remember these seven of the most affordable US states to live in.
The Show Me State is an interesting case because it has two major metropolitan areas, Kansas City and St. Louis, but it still ranks high in affordability for US states. Missouri’s median home value ranks 12th nationally at $163,600. The housing costs are around 20% below the national average. Health care and transportation costs are below the national average, making Missouri one of the most affordable US states.
Tennessee ranks sixth with a cost of living index right at 89.0. The Volunteer State is growing quickly due to booming cities like Nashville and its suburbs. The median home value here is around $177,600, so around 18th nationally.
The housing costs here are about 21% below the national average, even when considering Nashville. Like Missouri, Tennessee’s low health care and transportation costs make it one of the most affordable states.
Like Tennessee, Georgia is quickly growing because of one of its metropolitan areas. However, the state still has a low cost of living index of 89.3. The median home value is around $190,200, which ranks around the middle of the 50 states.
Even considering the city of Atlanta, Georgia’s housing costs are around 25% below the national average. Georgia is an ideal spot for people who want to live near a major hub like Atlanta and take advantage of an affordable cost of living.
Alabama, neighboring the most affordable state, ranks No. 4 in the US for affordability. The median home value in the Yellowhammer State sits around $149,600, ranking seventh in the nation. The cost of living factors here is generally low, with an index of 88.8. The cost of groceries, transportation, taxes and child care falls well below the national average.
The gap between the third and fourth states on the list is small, but Oklahoma checks in third place. The Sooner State has a cost of living index of 88.09. The median home value here is around $142,000, ranking fourth in the nation.
Oklahoma is Kansas’ neighbor to the south, so it shares some features. A lot of flat land makes it attractive for developers to build houses. The supply is higher with lower demand, creating affordable housing costs in the state.
The state of Kansas ranks second in affordability for US states. The Sunflower State has a cost of living index of around 86.6. The housing costs here rank in the top 10 in the United States, with the median home costing about $157,600. Much of Kansas is flat, creating a lot of land for building houses in the state. The low housing costs and the affordability of groceries and transportation make Kansas one of the most affordable US states to live.
The state with the lowest cost of living in the union is Mississippi. The Magnolia State has a median home value of around $125,500, ranking second in the nation. When looking at the cost of living factors, Mississippi has a cost of living index of 84, meaning the cost of groceries, utilities and more are below the national average. This state has affordable housing costs because it has a low volume of people moving here for economic opportunities.