The Most Affordable States to Live in America

The Most Affordable States to Live in America

  • Because of inflation, so many people are choosing to find a place to live in states that have lower costs of living.
  • Not every state offers financial benefits to people, but there are some that stand out as the most affordable states to live in.
  • Tennessee and Mississippi are some of the cheapest states to live in and they offer benefits that people will immediately feel upon moving there.
  • There are several other states that are also low in their living expenses that would be great places to consider moving to in the future.

With inflation and the cost of living being so expensive, many people are flocking to states where the cost of living is significantly reduced compared to other places. So, if you find yourself trying to escape the high price of inflation and looking for other alternatives, you’ve come to the right place. We have researched the best places to live and the cheapest states to reside in for 2022.

This article will provide all the information you need to know the top five most affordable states in America and how cheap they are compared with other states that people regularly believe to be the best places to live.

You might be surprised by some of the states that qualify as the most affordable states to live in, but these offer plenty of value and the same benefits and amenities you’ll find in other locations you live in now. Let’s look at what factors are examined to decide what is the most affordable state.

What Makes a State Affordable?

Before diving into the top five most affordable states, it’s essential to understand what makes them so cheap. The cheapest states are often ranked by various factors, including the cost of housing, the diversity in these locations, and the public schools.

Safety and taxes are other critical factors because the tax burden can depend on several things, such as property taxes and sales tax. These all combine to help decide what the most affordable locations in the country are today.

The Top Five States to Live In, Ranked by Their Affordability

The top five states to live in according to their affordability are surprising, but here are what have been designated 2022’s most affordable states. This considers the cost of houses, general commodities, and even the diversity of income levels presented in these states.

Mississippi – #1

Mississippi is surprisingly the most affordable out of all the states to live in. Here, people can enjoy housing prices that are an average of $305,000. However, housing is not the only cheap thing in the state.

For example, on average, buying a piece of pizza is 25% less in Mississippi than in New York, which means you get affordable housing and affordable costs on food, energy, and other necessities you need!

Kansas – #2

Many would be surprised to hear that Kansas is incredibly affordable and ranked number two on the 2022 list of most affordable states. As it is one of the cheapest states to live in, Kansas has an average home price of $350,000.

The cost of a home is one-sixth of that in Manhattan, making it incredibly easy for people to afford their lives in Kansas. Additionally, those who enjoy steak will be pleased to know that a rib-eye steak is 25% less at the store in Kansas that is buying it anywhere else on the East Coast.

Alabama – #3

Alabama is the third most affordable state to live in, and it’s surprising how incredibly cheap everything is in this Southern paradise. On average, a house in Alabama will typically cost one-third of that found in Anaheim, California, which is incredible.

Additionally, it is 30% less in cost to see an eye doctor in Alabama than in Florida, further proving that the cost of living is so astronomically affordable. On average, people can expect to spend about $334,000 on the house here, which is still quite a steal compared with everywhere else. Alabama is a hidden gem, and one people wouldn’t consider unless they know these facts!

Georgia – #4

The home of Atlanta, Coca-Cola, and peaches is also quite affordable, but not in housing prices. For the city of Atlanta, an average house costs about $449,000, which is still quite a bit to pay. Still, if you think about the location, it might offset some of the worries people have.

Additionally, individuals can get a liter of coke for 20% less than what the same product would be in Delaware or other East Coast states. Finally, for those who enjoy yoga and fitness classes, yoga is 20% less in Georgia than it is for different locations, which is excellent for those who want to keep active and healthy while living in another warm Southern retreat.

Tennessee – #5

The fifth most affordable state to live in is Tennessee, home to the cities of Memphis, Nashville, and Chattanooga. This is one of the most underrated states, primarily because people often think about Nashville only but don’t consider the surrounding areas. The other cities and suburbs are also wonderful to live in and surprisingly affordable.

An average house in Tennessee would cost about $357,000, and that’s not the only thing that is incredibly cheap compared to other locations. Tennessee also boasts 25% lower prices on items like bananas, as compared with major cities like New York City. Eggs are also a dollar cheaper than what people find in some of the states on the East Coast.

Do You Live in Any of These States?

Do you live in any of these states? As they are the most affordable states to live in now, people will likely continue to move here and find ways to save money during this era of inflation that consumers are experiencing.

If you are interested in more information about affordable places to live and how to get your finances square, check our blog regularly to learn more and prepare yourself for all that comes. Especially during this time of high inflation, you need all the help you can get to save money!