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Which states offer the best deals, letting you lose the least money on taxes and living expenses?
To answer, compared states on total cost of living, median home prices, and total tax burden.
That includes not just income tax but also property taxes and sales and excise taxes, as calculated byWalletHub.
Note that higher ranks for tax burden and cost of living ranks indicate lower costs.
Thus, a tax burden ranking of 50 indicatesthe state with the lowest taxes.
Tennessee
Tennessee has a lot going for it.
To begin with, it offers a lower cost of living than 42 other states.
For reference, the median home price nationwide is $355,328.
It boasts a lower overall cost of living compared to high-cost coastal markets.
Consider it a top bargain state in every way.
Oklahoma
Oklahoma has the lowest cost of living of any state in the nation.
Nowhere is that more obvious than its median home price, just barely breaching $200,000.
Low property taxes and income taxes dont hurt either.
Only a handful of states offer a lower total tax burden than Oklahoma.
Oklahoma City offers urban life, with a population of over 700,000.
Alabama
It costs almost as little to live in Alabama as it does in Oklahoma.
You wont have to fend off the tax man at every turn either.
Unlike many of the most affordable states in the U.S., Alabama isnt landlocked.
Check out Dauphin Island, Fort Morgan, and Bon Secour National Wildlife Refuge for some salt life.
Thats driven home prices near the national average, unfortunately.
Still, it retains a lower cost of living than the bulk of the country.
Wyoming might be the most business and tax-friendly state right now and has a modest cost of living.
You may not find towering mountains in Florida, but youll find everything else.
Beyond the many options for city living, it also features countless smaller towns and seemingly endless coastlines.
Surfers, boaters, anglers, scuba divers, and beach bums alike have plenty to love in Florida.
The U.S. is a big place, and no one says you have to stay where you are.
You might just find your paycheck stretches farther in another state with lower taxes and cost of living.
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