10 Most Affordable Places to Live in the USA
Inflation recently declined to its lowest point in two years, but what a two years it's been. The cost of living has been on the minds of Americans more than at any point in recent history. But residents of some states have had it easier than others. As part of its annual Best States for Business survey, CNBC rated all 50 states based on the cost of living—prices for a broad range of goods and services calculated by the Council for Community and Economic Research, and housing costs according to the National Association of Realtors. These are what they determined are the 10 most affordable places to live in the U.S.
9
(tie) Mississippi
Cost of living score: 41 out of 50
Housing and health care are cheap in Mississippi. A visit to the doctor in Tupelo costs just $77—one-third the cost in Minnesota.
9
(tie) Illinois
Cost of living score: 41 out of 50
Although capital city Chicago can be pricey, real estate is affordable in Illinois overall. The National Association of Realtors says housing in the state is the fourth-most-affordable in the nation.
7
(tie) Missouri
Cost of living score: 43 out of 50
Missouri also boasts affordable housing. A four-bedroom house in Joplin costs just 25% of what it would in the Washington, D.C. suburbs. Energy prices are also low.
7
(tie) Michigan
Cost of living score: 43 out of 50
The survey found that housing in Michigan is extremely affordable: A house in Kalamazoo costs about half of what it would in Chapel Hill, North Carolina. The cost of living is also less than it is in other states.
5
(tie) West Virginia
Cost of living score: 44 out of 50
"You won't get more home for your dollar anywhere else in the country than West Virginia," which has the most affordable housing in the nation, says CNBC. Other prices, including groceries, are also reasonable.
5
(tie) Oklahoma
Cost of living score: 44 out of 50
A two-bedroom apartment in Ponca City costs 20% what it would in Portland, Oregon, CNBC notes.
3
(tie) Ohio
Cost of living score: 45 out of 50
Housing in Ohio ranks among the most affordable in the nation, the National Association of Realtors says. Other prices are bargains, too: A movie ticket in Brooklyn, Ohio, costs 30% less than it does in Brooklyn, New York.
3
(tie) Indiana
Cost of living score: 45 out of 50
"Bargains abound in Indiana for just about anything you need to do," says CNBC. And it's a trend: The state's ranking rose from #9 overall in 2022 to the #3 spot this year.
2
Kansas
Cost of living score: 46 out of 50
Prices, particularly groceries, are particularly affordable in Kansas. A loaf of bread in the wheat-growing state costs just half of what it does in Boston.
1
Iowa
Cost of living score: 47 out of 50
The Hawkeye State is home to the second-most-affordable housing in the country. That applies to buyers and renters: The average two-bedroom apartment in Burlington is $750 a month—a quarter of what it costs in Chicago.
