What is the 1 cheapest state to live in? Find out which state saves you most.

Looking for an affordable place to live? Look no further than Mississippi! With a cost of living index score of 83.3, Mississippi is the cheapest state to live in the United States. In addition to its low overall cost of living, Mississippi also boasts the lowest cost of housing in the country, at 33.7 percent lower than the national average. Here are some additional factors that make Mississippi a cost-effective place to call home:

Low taxes: Mississippi has one of the lowest tax burdens in the country, with no estate or inheritance tax and a low sales tax rate of 7 percent.

Affordable healthcare: Mississippi also has some of the lowest healthcare costs in the country, which can make it an attractive choice for retirees or anyone on a fixed income.

Bargain prices for groceries: According to the Council for Community and Economic Research, the cost of groceries in Mississippi is on average 9.7 percent lower than the national average.

While cost of living is a major consideration when choosing a place to live, it’s important to remember that other factors such as job opportunities, quality of life, and weather should also be taken into account. That being said, if you’re looking to stretch your dollars as far as possible, Mississippi is definitely worth considering.

Cheapest State to Live in the United States: Mississippi

Introduction

When it comes to finding the cheapest state to live in the United States, Mississippi takes the top spot. This state is often overlooked when it comes to discussion about affordable living, but it offers a great standard of living without burning a hole in your pocket. Many people are under the misconception that a low cost of living means low quality of life, but Mississippi proves that wrong. The state is known for its southern hospitality, stunning natural beauty, and rich culture.

Cost of Living Index Scores

Mississippi has the lowest cost of living index score in the United States at just 83.3, that’s 16.7% lower than the national average. This score considers the cost of housing, transportation, food, healthcare, and other essential expenses. This means that you can save a lot of money by living in Mississippi, freeing up your budget for other essentials or non-essential expenses such as vacations and leisure activities. A low cost of living means more financial flexibility and less stress.

Low Cost of Housing

One of the biggest factors that contribute to Mississippi’s low cost of living is the low cost of housing. According to the Bureau of Economic Analysis, the cost of housing in Mississippi is 33.7% lower than the national average. This means that buying or renting a home in Mississippi is significantly cheaper than other states in the country. This is great news for anyone looking to move to a new location that affordable housing is not out of reach. Fun Fact: The median monthly rent in Mississippi is just $715, while the national median is $1,062.

Other Affordable Expenses:

• Healthcare: The cost of healthcare in Mississippi is 6.7% lower than the national average.
• Food: The cost of food in Mississippi is around 5% lower than the national average.
• Transportation: The cost of transportation in Mississippi is 10% lower than the national average.

Living Standards in Mississippi

It’s easy to assume that with such a low cost of living, the standard of living in Mississippi is also low. However, that is not the case. Mississippi ranks highly for its high quality of life, which includes access to public education, healthcare, safety, and natural amenities. In fact, the cost of living in Mississippi makes it easier to access these resources. The state has a low crime rate, natural beauty, and amazing food which contributes to a great quality of life for its residents.

Final Thoughts

Mississippi may not always be the first state that comes to mind when you think about affordable living, but it should certainly be on your radar if you’re looking to relocate or just want to save a little money. Its low cost of living index score and low housing costs make it an easy choice for those looking to make their money go the furthest. It’s important to remember that the cost of living does not necessarily reflect the standard of living, and Mississippi proves it. With its rich culture, natural beauty, and Southern charm, Mississippi offers great value for your money and a great place to call home.