Are you tired of breaking the bank just to make ends meet? Look no further! According to Forbes, there are several states in the US that offer an affordable cost of living, making it possible to enjoy a high quality of life without sacrificing your savings. In this article, we'll explore the top 10 cheapest states to live in, as ranked by Forbes, and what makes them so attractive to budget-conscious individuals and families.
Ranking the Cheapest States
Forbes' ranking of the cheapest states to live in is based on a variety of factors, including the cost of housing, groceries, utilities, transportation, and healthcare. The states that made the cut offer a unique combination of low costs, affordable housing, and a high quality of life. So, without further ado, let's dive into the top 10 cheapest states to live in:
- Mississippi: With a cost of living index score of 84.6, Mississippi takes the top spot as the cheapest state to live in. The median home price is a mere $120,000, and the average cost of groceries, utilities, and transportation is significantly lower than the national average.
- Arkansas: Arkansas comes in second, with a cost of living index score of 86.3. The state boasts affordable housing, with a median home price of $140,000, and low costs for groceries, utilities, and transportation.
- Tennessee: Tennessee takes the third spot, with a cost of living index score of 87.3. The state is known for its low taxes, affordable housing, and stunning natural beauty.
- Alabama: Alabama ranks fourth, with a cost of living index score of 87.8. The state offers a low cost of living, affordable housing, and a thriving economy.
- Kentucky: Kentucky comes in fifth, with a cost of living index score of 88.2. The state is home to affordable housing, low costs for groceries and utilities, and a rich cultural heritage.
- Oklahoma: Oklahoma takes the sixth spot, with a cost of living index score of 88.3. The state boasts low costs for housing, groceries, and transportation, making it an attractive option for budget-conscious individuals and families.
- Missouri: Missouri ranks seventh, with a cost of living index score of 89.1. The state offers affordable housing, low costs for groceries and utilities, and a thriving economy.
- South Carolina: South Carolina comes in eighth, with a cost of living index score of 90.2. The state is known for its low taxes, affordable housing, and stunning natural beauty.
- North Carolina: North Carolina takes the ninth spot, with a cost of living index score of 90.5. The state boasts a low cost of living, affordable housing, and a thriving economy.
- West Virginia: West Virginia rounds out the top 10, with a cost of living index score of 90.6. The state offers affordable housing, low costs for groceries and utilities, and a rich cultural heritage.
These 10 states offer an affordable cost of living, making them attractive options for individuals and families looking to stretch their dollars. From the low costs of housing and groceries to the stunning natural beauty and rich cultural heritage, each state has its unique charm and advantages. Whether you're a young professional, a family, or a retiree, there's a state on this list that's sure to fit your budget and lifestyle. So why not consider making the move to one of these affordable states and start enjoying a higher quality of life without breaking the bank?
Note: The cost of living index scores mentioned in this article are based on data from Forbes and are subject to change. It's always a good idea to research and visit each state before making a decision about where to live.
