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What is the cheapest state to live in? Top 10 least expensive states to live in

Olivia Munson, USA TODAY
Updated ·3 min read

When picking a place to settle down, you may consider several factors, such as education, climate or job opportunities.

Another important consideration is affordability. Hawaii is the most expensive state to live in, with its housing costing three times the national average. New York and California rank as the second and third most expensive states in which to live, respectively.

But what about the cheapest state in which to live? Where in the U.S. is it the least expensive to live?

What is the cheapest state to live in?

Mississippi is the least expensive state to live in, according to worldpopulationreview.com. The Magnolia State has a cost of living index of 83.3.

Cost of living index measures the average cost of living in the U.S. as a baseline of 100, says worldpopulationreview.com.  If a state's number goes above 100, it has a higher cost of living than the national average.  Conversely, if a state has a cost index number below 100, it is less than the national average.

The median price for a single-family home in Mississippi is $140,818, and rent for a two-bedroom apartment costs, on average, $777.

The median income of a family of four in Mississippi is $70,656. Although the cost of living is low, nearly one-fifth of Mississippi residents live at or below the poverty line. The state has one of the highest rate of poverty in the U.S., according to the U.S. Department of Agriculture.

What are the top 10 cheapest states to live in?

Here are the top 10 least expensive states to live in, according to worldpopulationreview.com:

  • Mississippi (85.3)

  • Oklahoma (86)

  • Kansas (87.7)

  • Missouri (88.4)

  • Alabama (88.8)

  • Iowa (89.7)

  • Nebraska (90.1)

  • Arkansas (90.3)

  • West Virginia (90.3)

  • Tennesse (90.4)

Which country has the lowest average cost of living?

Pakistan is considered as the country with the lowest average cost of living, according to numbeo.com.

The country has a cost of living index of 19.92.  In comparison, the U.S., as a whole, has a cost of living index of 70.13 and is ranked as the 26th most expensive country to live in.

What is the most expensive country to live in?

Bermuda is ranked No.1 as the the most expensive country to live in, according to numbeo.com. The British overseas territory has a cost of living index of 146.04.

Switzerland is the second-most expensive country in which to live. Its cost of living index is 123.35, says numbeo.com.

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This article originally appeared on USA TODAY: What is the cheapest state to live in? The cheapest states to live in