When considering a move or retirement, one of the most important factors to take into account is the cost of living. For those seeking affordability, some U.S. states stand out as being significantly cheaper to live in than others. The cost of living encompasses housing, groceries, utilities, healthcare, transportation, and more. If you’re looking to stretch your dollar further, here are some of the states with the lowest cost of living.
1. Mississippi
Mississippi consistently ranks as one of the most affordable states in the U.S. The cost of living in Mississippi is well below the national average, with housing costs being especially low. Whether you’re renting or buying a home, you’ll find that prices are incredibly reasonable compared to most other states. For example, the median home price in Mississippi is significantly lower than the national median, making homeownership accessible to more people.
2. Arkansas
Arkansas is another state with a low cost of living. Housing is particularly affordable, with the median home price being one of the lowest in the country. Whether you’re living in a city like Little Rock or in a more rural area, you’ll find that rent prices and homeownership costs remain consistently low. Arkansas also boasts affordable healthcare, transportation, and utilities, making it a great place for those on a fixed income, such as retirees.