GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re able to read more about oureditorial guidelinesand our products and servicesreview methodology.
Living expenses typically include food, housing, transportation, healthcare, taxes and child care.
Also see the minimum wage in every state.
Therefore, Wisconsin is generally considered affordable compared to other Midwestern states.
The cost of living in Missouri is about 14% lower than the national average.
Buying a home will generally cost $212,300, while renting a two-bedroom apartment costs about $950 monthly.
So consider Missouri if you want to buy an affordable home with potential appreciation value.
Alabama
Alabamas cost of living is relatively low, on par with Missouris.
it’s possible for you to settle down in Alabama on an annual salary of $30,800.
However, the living wage in Nebraska is $20.12 per hour.
What kinds of jobs can you get for $20 an hour in Nebraska?
Front-desk receptionists in Omaha can earn an average of $20 perhour scheduling appointmentsin places like dental offices.
New Mexico
New Mexico is rich in mouthwatering Mexican, Spanish and Pueblo Native American cuisine.
To live comfortably in New Mexico, you must earn $18 per hour.
Among the cities in New Mexico with the highest-paying comfortable jobs are Roswell, Santa Fe and Las Cruces.
New Mexicos low cost of living helps compensate for the limited opportunities for economic advancement in theso-called comfortable-jobs category.
Iowa
Iowas comfortably affordable annual salary is $29,600 for a single adult.
Mississippi
Running neck and neck with Iowa, Mississippis minimum comfortable annual income is $29,600.
The states housing, transportation and grocery costs are below the national average.
Since temperatures are mostly mild year round, utility costs are also affordable.
The state attracts many retirees because of its nature and slower lifestyle.
One of Louisianas most attractive economic features is that it doesnt have astate income tax.
Louisianas gas prices are comparable to the national average.
A single adult can expect to pay more than $5,400 per year in transportation costs.
South Dakota
South Dakota is known for Mount Rushmore and Badlands National Park.
Housing costs are 20.7% less than the national average, with amedian home purchaseat $268,000.
Some advantages of living in Ohio include its many theme parks,stunning lake-surrounded landscapesand various entertainment options.
Some disadvantages are the freezing, snowy winters and limited public transportation.
Compared to other states, it’s possible for you to live a comfortable lifestyle on a modest budget.
If youre looking for budget-friendly Kentucky cities, consider Williamsburg or Middlesborough.
Oklahoma
Oklahomas cost of living is 17.8% lower than the national average.
The Great Plains state has low property tax rates and no state income tax.
However, Oklahoma is challenged with alow median household incomeand a high poverty rate.
Arkansas
Arkansas cost of living is 22.5% lower than the national average.
Budgeting a $13.27-per-hour salary is easier in a state with lower-than-average housing, transportation and grocery costs.
Theres alsono state income tax, and healthcare is affordable.
Before moving to Arkansas to save money, consider the pros and cons.
you’ve got the option to hike trails, tour caves and view spectacular waterfalls.
A downside is that job opportunities are limited in industries likefinance and technology.
West Virginia
West Virginias cost of living is 20.6% lower than the national average.
One drawback is the inadequate and sometimes nonexistent public transportation.
Youll find it challenging to get around without a car.
For our full Privacy Policy,click here.
