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Using the 50/30/20 rule that states that needs should not exceed 50% of household income, the total cost of living can be doubled in order to find the household income needed to live comfortably ...
1. Tennessee. Cost-of-living index: 90.3 Annual cost of necessities: $33,060 Annual expenditure: $65,889 Tennesse ranks as the cheapest state without income tax on the list.
Even states with cheap costs of living pose a challenge. In Mississippi, for example, average personal consumption expenditures are $3,037 a month – more than $500 above the $2,500 target.
The difference in housing costs from state to state is especially important. The Bureau of Economic Analysis has calculated that the regional price parity of U.S. states ranges from 84.4 in Mississippi (the cheapest state in which to live) to Hawaii at 119.3 (the most expensive state).
Stacker used data from the Council for Community and Economic Research to determine the 25 least expensive states to live in as of early 2024.
U.S. states and D.C. by median home price, February 2024 (in February 2024 dollars) [1] State rank State or territory Median home price in US$ 1 Hawaii: $839,013 2 California: $765,197 — District of Columbia: $610,548 3 Massachusetts: $596,410 4 Washington: $575,894 5 Colorado: $539,151 6 Utah: $509,433 7 New Jersey: $503,432 8 Oregon: $487,244 9
Bangor, Maine. Average home cost: $237,200 Average rent (two-bedroom): $1,220. Cost of living score: 85. Another state famous for its distinct four seasons. Colorful autumns, dewy springs, warm ...
With housing prices on the rise, it might seem like a tall order to find a place to live that has both affordable housing and good weather -- but such places do exist.PropertyShark analyzed U.S ...