The average price for a four-bedroom home in the US is almost $356,000.
While the average price for a home in a certain area may vary, it’s still worth noting that the same home in New York City will run about $1.2 million on average.
The Council’s report shows the cost of living in each metropolitan area based on the goods and services that the area residents buy.
An index score of 100 shows a national average for affordability across all participating areas.
To determine the average cost of living in each metropolitan area, U.S. News used the cost of living index for all 50 states.
These rankings take into account the average home price in a given area and the median household income in each state. They also include the cost of staple goods, such as a pound of ground beef and a half-gallon of milk.
Below is the list of the top 10 cheapest States to live in the United States.
| State | Average Home Price | Average 1 Bed Rent |
| Indiana | $195,095 | $660 |
| Tennessee | $243,266 | $663 |
| Michigan | $218,754 | $677 |
| Missouri | $203,937 | $600 |
| Georgia | $258,067 | $721 |
| Arkansas | $156,576 | $566 |
| Alabama | $178,693 | $641 |
| Oklahoma | $158,292 | $625 |
| Kansas | $185,743 | $624 |
| Mississippi | $147,859 | $626 |
Indiana
| Average Household Income | $52,327 |
| Average House Price | $195,095 |
| Average Rent (Studio) | $592 |
| Average Rent (1 Bed) | $660 |
| Average Rent (2 Bed) | $830 |
| Average Rent (3 Bed) | $1,080 |
| Average Rent (4 Bed) | $1,235 |
Indiana is the best place to live in 2017. Its low cost of living and strong economy make it a great place to raise a family.
GOBankingRates named Indiana as one of the most affordable states to live in. Indiana is considered one of the most affordable places to live in the U.S. According to the cost of living index, the average cost of living in the state is lower than most of the US.
Indiana is the least expensive state in the US. Its living index is 90.4, which means that the cost of living is 9.6% lower than the national average.
According to a study, earning $46,016 a year is enough to meet your basic needs. However, the study noted that the median income in the city is less than $42,076.
An estimated family of four in Indianapolis, Indiana, with four kids, would need to pay 3,081$ a month in rent.
Tennessee
| Average Household Income | $50,801 |
| Average House Price | $243,266 |
| Average Rent (Studio) | $631 |
| Average Rent (1 Bed) | $663 |
| Average Rent (2 Bed) | $814 |
| Average Rent (3 Bed) | $1,069 |
| Average Rent (4 Bed) | $1,235 |
Aside from being known for its mild weather, Tennessee also has plenty of attractions to keep people busy. From the Appalachian Mountains to the diverse cities, the state has something for everyone.
Despite its high cost of living, Tennessee is still considered an affordable place to live. In 2021, the state is ranked sixth on the list of the lowest cost of living in the US.
To live comfortably in Nashville, average residents need to make over 80,000 a year. GoBankingRates analyzed the cost of living in the city and found that Nashvillians have a hard time making ends meet. Salaries for Person jobs in Tennessee range from $23,501 to $35,723.
Nashville’s cost of living is 3,491$ a month, excluding rent. It is 28.00% cheaper than New York’s.
Michigan
| Average Household Income | $53,815 |
| Average House Price | $218,754 |
| Average Rent (Studio) | $608 |
| Average Rent (1 Bed) | $677 |
| Average Rent (2 Bed) | $853 |
| Average Rent (3 Bed) | $1,111 |
| Average Rent (4 Bed) | $1,235 |
More than half of Michigan’s forests are covered in timber. This makes the state a great place to hunt and fish.
Michigan is the place to live if you’re looking for the best and most affordable places to live. Its diverse landscape includes numerous types of landscapes, such as sandy beaches and wooded areas.
The number of violent crimes in Michigan has decreased by 7.3% since 2010, while the property crime rate has also decreased by 1.6%.
Despite the drop, the state still has the highest rate of violent crime in the US. While Michigan is known for its auto industry, it’s also a great place to raise kids. Families can also benefit from a variety of well-paying jobs.
The typical Michigan renter spends about $850 a month on housing. That’s $173 less than the national median monthly rent.
Missouri
| Average Household Income | $51,144 |
| Average House Price | $203,937 |
| Average Rent (Studio) | $552 |
| Average Rent (1 Bed) | $600 |
| Average Rent (2 Bed) | $764 |
| Average Rent (3 Bed) | $1,010 |
| Average Rent (4 Bed) | $1,162 |
Missourians can enjoy a variety of economic opportunities due to its proximity to Kansas City. They also save money due to the low cost of living.
Missouri has the lowest overall cost of living in the country. According to areavibes, the average cost of living in Missouri is around $1,150.
The average cost to live in the state is about $2,198 a month. The living wage is calculated by taking the median annual earnings of all workers in the US.
Georgia
Georgia is a great place to live due to its great weather and stunning natural features. Unfortunately, it has a high level of poverty. Despite the metropolitan area, many rural areas are still in existence.
Georgia, which is located in the southern state of Georgia, is considered one of the most affordable places to live in the U.S.
Whether you’re planning on moving to the South or just looking for an apartment, living in Georgia will allow you to enjoy the low cost of living.
| Average Household Income | $53,105 |
| Average House Price | $258,067 |
| Average Rent (Studio) | $694 |
| Average Rent (1 Bed) | $721 |
| Average Rent (2 Bed) | $870 |
| Average Rent (3 Bed) | $1,134 |
| Average Rent (4 Bed) | $1,337 |
Arkansas
| Average Household Income | $46,689 |
| Average House Price | $156,576 |
| Average Rent (Studio) | $534 |
| Average Rent (1 Bed) | $566 |
| Average Rent (2 Bed) | $712 |
| Average Rent (3 Bed) | $938 |
| Average Rent (4 Bed) | $1,083 |
Arkansas has a mild climate all year long. It is also one of America’s most affordable states to live. There are numerous job opportunities in the state.
According to a study by C2ER, Arkansas’ cost of living is 14% lower than the national average. The study found that a dollar in Arkansas supports more spending than it does in other states.
By the standards of the MIT Living Wage Calculator, which takes into account the cost of living in a given area, a person in Arkansas or Kentucky would need at least $30,000 to meet basic needs in order to live comfortably.
The cost of living in Arkansas is computed by dividing the US average by 100. For instance, if the cost of living is 75.0, then Arkansas is cheaper than the US average.
Alabama
| Average Household Income | $49,798 |
| Average House Price | $178,693 |
| Average Rent (Studio) | $598 |
| Average Rent (1 Bed) | $641 |
| Average Rent (2 Bed) | $789 |
| Average Rent (3 Bed) | $1,025 |
| Average Rent (4 Bed) | $1,178 |
Alabama has great weather all year round. Its natural beauty and low cost of living make it a great place to live.
To retire comfortably in Alabama, you will need to save at least $65,000. Based on salary data from ZipRecruiter, the average salary for workers in the average jobs category is around $43,330.
The typical renter in Alabama spends almost $780 a month on housing, which is $251 less than the national median rent. The monthly rent for a single bedroom is $600 in Alabama.
Oklahoma
| Average Household Income | $49,127 |
| Average House Price | $158,292 |
| Average Rent (Studio) | $597 |
| Average Rent (1 Bed) | $625 |
| Average Rent (2 Bed) | $792 |
| Average Rent (3 Bed) | $1,042 |
| Average Rent (4 Bed) | $1,191 |
Oklahoma City has many reasons to consider if you’re thinking of moving to the area. From its great location to its affordable prices to its safe community, Oklahoma City has plenty to offer.
According to USA Today, Oklahoma is the fourth most affordable place to live in the US. This is largely due to the low cost of living in the state.
The cost of living in Oklahoma City, OK was up 1.2% in 2021.The living wage in the US is $67,690. Mississippi has the lowest annual living wage.
Kansas
| Average Household Income | $52,598 |
| Average House Price | $185,743 |
| Average Rent (Studio) | $592 |
| Average Rent (1 Bed) | $624 |
| Average Rent (2 Bed) | $795 |
| Average Rent (3 Bed) | $1,038 |
| Average Rent (4 Bed) | $1,176 |
Kansas is known for its beautiful sunsets. Aside from the beaches and mountains, we also have numerous rivers and sunflower fields.
Kansas is the fourth-cheapest place to live in America. Its cost of living is about 12.1% lower than the national average. Kansas’ cost of living is 83.1. out of US average of 100.
Kansas has plenty of buildable lands, which makes houses more affordable in the state.
Mississippi
| Average Household Income | $45,317 |
| Average House Price | $147,859 |
| Average Rent (Studio) | $590 |
| Average Rent (1 Bed) | $626 |
| Average Rent (2 Bed) | $764 |
| Average Rent (3 Bed) | $990 |
| Average Rent (4 Bed) | $1,112 |
In Mississippi, there are plenty of great places to live in the state, such as the cities that have earned the top spot on various national lists.
However, violent crimes in Mississippi have increased over the last year, which is in line with the uptick in gun violence in the state. Despite this, a majority of residents still feel safe in their home state.
Mississippi has the least amount of cost of living in the U.S. The average cost of living in Mississippi is only $48,537. Mississippi has the lowest cost of living in the country. The cost of living index in the state is 84.8 out of 100.
The national living wage is $67,690. Mississippi has the lowest annual living wage of any state. According to ZipRecruiter, the average salary for workers in the state is around $41,891.
