For example, Minnesota doesnt charge sales tax on clothing or grocery foods. To figure out which college towns are most affordable, we looked at costs for housing, food, healthcare, transportation, utilities, and entertainment and compared those costs to the national average. Lets head west! Fortunately, living in Asheville has remained affordable. Buying a home or renting an apartment in Meridian, Mississippi, will cost you roughly half of what it would in Bozeman, Montana. 2022 Cost of Living Score: 47 out of 50 points (Top States Grade: A+). If youre looking for a budget-friendly state to retire in, Oklahoma may be for you. Like everywhere else, gas prices here are high. And whats up with the job market? Still, such a large student population hasnt kept its cost of living from reaching 82% above the national average. You're in luck here, because a McDonald's Quarter Pounder with Cheese in Hot Springs will cost you just $4.13, or about 30% less than it would cost you in New York City. Heres how Michigans housing prices and job market compare nationally: Michigan is known for its auto industry, the Great Lakes and winter sportsMichiganders love ice fishing, skiing and hockey. On the Republican side, Florida has the unfortunate claim of being the most unaffordable state overall, with a 58% cost-burden rate. With 31% of voters identifying as liberal, Washington is the fourth-most liberal state in the United States. In the 2016 presidential election, 52.5% of voters voted Democratic. As is the case with most California towns on our list of the most affordable liberal college towns, the biggest difference in cost is housing. In fact, it was very republican back in the old days. By researching some of the most affordable states to live in, those looking for a new home can strategically save thousands by simply choosing a location with an affordable cost of living. And Georgia has alot to offerlike the Appalachian Mountains, sandy beaches along the Atlantic, beautiful architecture and Southern charm. "headline": "12 Cheapest States To Live In [Updated 2022]", The cost of living in those cities is 10% below average, and theyve got the lowest median housing prices on our countdown. Are you someone looking to balance your living costs with good healthcare and education? The cheapest part of Alabama is the Anniston-Oxford area, which has a cost of living thats 17% below the national average. A new report from Niche, a data-driven platform with ratings and reviews of cities across America, has the answers. That's why CNBC's annual America's Top States for Business study includes Cost of Living in our formula for ranking the states. Craving some pizza? "image": [ This includes food, utilities, transportation, clothing, and healthcare costs. Here's how to make a budget in just five steps. Kansas City is the states most expensive place to live, but its still 4.5% less than most U.S. cities. Santa Cruzs median home price is about $909,500, while a one-bedroom apartment can be had for about $2,070 per month. (If you want the flexibility of being able to move any distance,check out PODS. But unlike Missourior anywhere elseyou can actually find real diamonds in Arkansas at Crater of Diamonds State Park. In fact, the towns and neighborhoods in the Pittsburgh area are some of the most affordable in the country, and the towns in Philadelphia improved in affordability this year., The report also shows the best places for diversity. You can choose from grassy plains, farmland or the Ozark Mountains. A local one-bedroom apartment can be rented for about $1,400 per month. Atlanta drives that number down a bit, with a cost of living thats 2%higherthan average. Sign up for free newsletters and get more CNBC delivered to your inbox. Nebraska 19. Students living off-campus should expect to pay about $1,067 for a one-bedroom apartment. Even the most expensive city, One of the best liberal cities to live in, Santa Barbaras cost of living is a whopping 123.4% higher than the national average. Cost of livingindex measures theaverage cost of living in the U.S. as a baseline of 100, saysworldpopulationreview.com. As the state with the most electoral votes, Californias vote is a big deal in elections. And how much does housing cost? When picking a place to settle down, you may consider several factors, such as education, climate or job opportunities. In the 2016 presidential election, 47.9% of Maine voted Democratic, while 44.9% voted Republican. Most of your decision-making will be influenced by personal incentives and preferences, such as the affordability of big cities within those states, or cost of healthcare or transportation. "@context": "https://schema.org", "publisher": { A yoga class will cost you about 20% less in Atlanta than it would in Los Angeles. To put that into perspective, a one-bedroom apartment in Ann Arbor rents for around $1,063 per month. Housing here is right on par with the national average, while costs for food, healthcare, utilities, transportation, and entertainment hover just above. Alabama has historically been among the most affordable states to live in. For example, there are multiple states that dont have income tax, which can save you a lot of money. Located at the head of Narragansett Bay near the Rhode Island border, Norton, Massachusetts, is a charming college town of about 19,000 full-time residents. Once you arrive in Mississippi, get ready for some fantastic music and food! Maybe a movie? ], Learn More. In fact, with its bike lanes, vibrant arts scene, and collection of locally owned businesses, Boulder feels like the quintessential college town. Of these 12 most affordable states to live in, which one would you choose? Thats great news for budget-minded students determined to live near the Bay. Pakistan is considered as the country with the lowest average cost of living. Its overall cost of living score is 88.9, with a housing score of 71.6. Population: 188,973 Home Price: $168,900 median purchase price; $750 median monthly rent Median Household Income: $51,441 Unemployment Rate: 5.1% Cost of Living: 7% below the national average Not only is Huntsville one of the best places to live in the Southeast, but its also one of the cheapest places to live.While the citys cost of The main factors that affect determining the most affordable states to live in include: Cost of Living: Cost of living refers to the average price of everyday and basic necessities within an area. "url": "https://fb.fortunecdn.com/images/FBLogoDownload.png" Cost of living is the amount of money someone would need to access the minimum standard of living within a particular area. Compare this years list to the best (and most affordable) places to live in America in 2022, as well as the cheapest places to live in the U.S. in 2021. Mississippi 2. A one-bedroom apartment in Medford can be rented for about $1,720 per month. Conversely, if a state has a cost index number below 100, it is less than the national average. The city of Atlanta may be relatively more expensive, but you can easily find beautiful urban areas in which to grow your roots. Ithacas overall cost of living is about 1% lower than the national average. Averaging only about 5% higher than the national norm, Providences most expensive cost-of-living categories are entertainment (26% higher), utilities (16% higher), and transportation (11% higher). The cost of living here is 17.5% higher than the national average. First, theres the higher education rate, which drives success in the overall Best Places to Live ranking, Best for Young Professionals, Best for Families and Best for Retirees, said Bell. The Hoosier states median house price is $142,500. Niches rankings are unique in that they combine quantitative data with feedback from real residents. Since the factors sourced from the American Community Survey are a five-year average, these changes are controlled in a sense, but some of the pandemics impact is sure to be seen., Nevertheless, there werent many surprises on this years report, according to Bell. In order to determine the best states to raise a family, WalletHub compared the 50 states across five key dimensions: 1) Family Fun, 2) Health & Safety, 3) Education & Child Care, 4) Affordability and 5) Socio-economics. Oregon is the eighth-most liberal state in the country, with 28% of voters identifying as liberal. If you want to lower your living costs but want to live in a big city, Indiana could be a great option. So, youll need atrusted insurance agentto help you get the right coverage at the right price. That said, its important to live somewhere you can actually affordso you should definitely find out if the cheapest states to live in will fit you and your family. Maybe youve already made up your mindyoure sick of sky-high prices and ready to head to greener pastures. Up next: Ohio! "dateModified": "2022-06-23" Aerial abstract view of homes in the suburb in Birmingham, Alabama. Figuring out how much house you can afford is tricky. WebStates with Lowest Cost of Living 2023 Mississippi 83.3 Kansas 86.5 Oklahoma 87.9 Alabama 87.9 Georgia 88.8 Tennessee 89 Missouri 89.8 Iowa 89.9 West Virginia 90.5 Indiana 90.6 States with Lowest Cost of Living 2023 States with Ithaca, New York. The most expensive states are determined using many of the same criteria as the affordable states by analyzing the cost of living, property prices, and average household income. Or maybe youre just sick of paying out of your nose for housing, groceries and utilitiesyou know,life. ", This is evidenced by the fact that more than 75% of Santa Cruzs population votes blue. A view of Longfellow Bridge and Cambridge, Massachusetts: the best city to live in the US. This state also grows lots of popcornso bring your movie collection along. Make a confident decision by considering these 15 factors that will impact your life. 2022 Cost of Living Score: 42 out of 50 points (Top States Grade: A-), Consumer Price Index (May, Midwest Region): Up 8.8%, Average home price (Bloomington): $408,649. A subreddit for people who want to move to a new city, state or province in their country. Opinions expressed by Forbes Contributors are their own. [ SIMPLE MORTGAGE HACKS: Take a 90-minute online training class to learn how to choose the right mortgage, lower your interest rate, & save thousands of dollars over the life of your loan! We want to hear from you. Thats why weve researched to find the 30 most affordable politically liberal college towns. Housing and transportations costs are notably low as well. Ohio 14. Bonus points of close to nature, and walkable. With an extremely low housing cost index of 61.1, you can expect to buy a home at a median price of $140,800. Just curious? Cambridge also benefits from having very strong universities, which contribute to the higher education rate, employment opportunities and access to amenities provided by the universities., A couple of unique criteria in our Young Professionals ranking include Millennials below poverty and young professional newcomers, and Cambridge showed improvement in both those factors as well as higher education rate and overall score, said Bell. Kentucky 18. Fortunately, the other cities on Georgias cost of living index range from 8% to 17% below the average U.S. city. Maybe! "name": "FortuneBuilders", Moreiso | Istock Editorial | Getty Images. If you live on the east side of West Virginia, youre closer to Washington D.C., so your cost of living will likely go up. With 28% of voters identifying as conservative, Vermont has a liberal advantage of 4 points, the third-highest country. One key metric used to measure affordability is the cost of housing in a given area. Massachusetts is the most liberal state in the U.S., with 35% of voters identifying as liberal. Heres how Mississippis housing prices, income and job market compare to the rest of the U.S.: *Median monthly rents refer to two-bedroom apartments. For example, a one-bedroom apartment in College Park averages $1,375 per month, while that same apartment would cost nearly $100 more in any of the aforementioned neighboring towns. Though Bronxvilles cost of living remains lower than that of nearby New York City, it still averages about 88% higher than the rest of the country. We rate the states based on an index of prices for a broad range of goods and services. Living costs for this politically liberal town average about 12% higher than the national average but 17% lower than the Massachusetts average. Maryland voters are 29% conservative, giving the state a -1 point liberal advantage. "mainEntityOfPage": { Costs for utilities, transportation, entertainment, healthcare, and food all range between 0-19% higher than the American average. Take a look at our list of the cheapest states to live in. Keep reading to take a quick tour of the United States, as we make a pit stop at 12 different states to explore why they are the most affordable in the nation. There are also other tax benefits that some states may offer outside of income related taxes. Next up, Arkansas! Heres what housing prices, salaries and the job market look like in Missouri: In Missouri, there are plenty of small towns where you can put down roots. And finally! Iowa 12. The first step is to get a great real estate agent on your side, and thats where our RamseyTrusted agents come into play. Over in Memphis, the bananas for your Elvis Presley-style fried peanut butter, bacon and banana sandwich will cost about 25% less than they would in Boston. We hope this guide of the 12 most affordable states will help you narrow down your search. New York is geographically split, a majority of upstate areas vote conservative, and the larger metro areas vote liberal. Where St. Paul Park stands out in cost of living metrics housing costs, which are considerably less than the national average. Inflation is almost impossible to escape nowadays, but some states are more affordable than others. Maine is the second-most liberal state in the country. All forms of income are included, such as salaries, investments, retirement funding, and any investment gains. As the home of Wheaton College, Norton is known for its educated population, its welcoming and walkable downtown area, and its local arts scene. } Rent 3 bedrooms Center/Outside Center: $2,724.11 /$1,913.70. But what about the cheapest state in which to live? In the 2016 presidential election, 60.3% of voters voted Democratic. Notice that all of these cities are in blue states. We're here to help with life's everyday questions, Mississippi is the least expensive state to live in, nearly one-fifth of Mississippiresidents live at or below the poverty line. Even the most expensive city, Birmingham, is still 8% below average. Its cost ofliving index is123.35, saysnumbeo.com. Students in Northampton can rent a one-bedroom place for approximately $925 per month, about $300 less than The Bay States average. Historically, Poughkeepsie hasnt had the best reputation as a college town. Tufts UniversityLocated about 10 minutes from Boston, Medford, Massachusetts, is home to Tufts University. Comparatively, costs for food, healthcare, utilities, transportation, and entertainment all average below or on par with the national average. Generally, towns and neighborhoods with highly ranked schools and districts, and towns and neighborhoods with a high percentage of residents who have received a bachelors degree or higher, will perform very well in the rankings., Niches report also reveals some macro trends, including emerging parts of the country like Pennsylvania. Famous Okies include Mickey Mantle, Brad Pitt, Carrie Underwood and Will Rogers. Find a RamseyTrusted real estate agent today! Thecost of living in Georgiais 11.4% below the national average. People on the sidewalk near one of the statues of Elvis Presley located in Broadway Street in Nashville. The median income of a family of four in Mississippi is $70,656. Top 10 spoken languages, globally. Missouri 9. getty Best Places to Live in the U.S.: 10 Most Affordable Cities Brownsville, Texas Dayton Wichita Falls, Alabama has the fourth-lowest cost of livingabout 12.1% lower than most of the U.S. As a one-bedroom renter, expect to pay around $645. Oaklands large and diverse population ensures local college students enjoy a unique college experience. Below are the ten most liberal states in the United States. ]. So what is the best city to live in America? Report Ranks Americas 15 Safest (And Most Dangerous) Cities For 2023, Quit Your Job And Move Abroad: 10 Cheapest Places To Live, This is a BETA experience. Lets compare Tennessees average housing prices, income and job market to the rest of the country: Housing prices are high in Tennessee (and it doesnt help that the average household income is $10,000 lower than the national median). Portland is the perfect place for both singles and families. Cost of living means exactly what it sounds likethe amount it costs to live somewhere! These are the liberal cities with low living costs in 2020 and beyond. The latest real estate investing content delivered straight to your inbox. Nicknamed the American Riviera, Santa Barbara is known for its stellar ocean views, laid-back vibe, and consistently ideal weather. If youre looking to balance a low cost of living with economic opportunity, Missouri could be just the locale for you. America's Top States for Business 2022: The full rankings, By putting partisanship aside, North Carolina ranks No. Outside of the cost of living, other factors might play a role in how affordable a piece of property might be state by state. In this article, FortuneBuilders navigates the cheapest states to live in 2022, what determines state affordability, as well as a few of the most expensive states to live in. Tennessee is the cheapest state to buy a house in 2022. 28% of voters in Hawaii identify as liberal, and 22% identify as conservative, giving Hawaii a liberal advantage of 6 points, the second-highest in the country. This states known for rock n roll, blues and tasty treats like fried catfish and chocolate pies. New York, for example, used to be highly conservative but is now much more progressive. In 2016, 62.2% of Hawaii voters voted Democratic in the presidential election. Web20 Most Affordable States 1. The 2023 Best Places to Live in America report includes a number of categories: the best cities (urban areas with a population of 100,000 or more), the places with the lowest cost of living, the best city for young professionals, the best neighborhoods and more. Overall cost of living index score: 83.3. College students living here can expect to pay approximately $830 per month for a one-bedroom apartment. The states location alongside the Mississippi River made it a strategic military location during the Located in one of the most naturally stunning areas of New York, Ithaca is well known for its college-town atmosphere. St. Paul Park has the 49th cheapest homes and 47th cheapest rent anywhere in minnesota. Read on for the lists of the best cities to live in the U.S., the most affordable places to live, the best neighborhoods and the best cities for young professionals. "author": { Transportation is the next highest cost-of-living category in Evanston. The cost of living in Missouri is 9.8% lower than the national average. Such affordability should leave plenty of pocket money to enjoy the local arts scene, the shops and restaurants of the picturesque downtown, and the nearby natural surroundings. In terms of cost of living, Burlington averages about 12% higher than the national average and 17% higher than the rest of Vermont. With a population of about 42,000 people, Burlington is Vermonts largest city. South Hadleys cost of living averages about 1.5% lower than the national average and about 28.7% lower than the Massachusetts state average. Think your eyes might be deceiving you? But living there still costs 2% less than in the average U.S. city. Tennessees cost of livingis 9.6% below average. 29% of voters identify as liberal, and 29% identify as conservative, giving California a liberal advantage of zero points. Also listed are average prices for selected items last year based on the 2021 Average Cost of Living Index by the Council for Community and Economic Research, C2ER. Those changes were certainly not limited to Fort Wayne, but with such slim margins at the top of the rankings, minor changes can be the difference between number one and number seven., The best neighborhood in America is Colonial Village in Arlington, Virginia.
