When picking a place to settle down, you may consider several factors, such as education, climate or job opportunities.
Another important considerationis affordability. Hawaii is the most expensive state to live in, with its housing costingthree times the national average. New York and California rank as the second and third most expensive states in whichto 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 livingindex of 83.3.
Cost of livingindex measures theaverage cost of living in the U.S. as a baseline of 100, saysworldpopulationreview.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 Mississippiresidents 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 arethe 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 countryhas 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 ofliving index of 19.92. In comparison, the U.S., as a whole, has a cost of living index of70.13 and is ranked as the 26thmost expensive country to live in.
What is the most expensive country to live in?
Bermuda is ranked No.1 as the the mostexpensive country to live in,according to numbeo.com. TheBritish overseasterritoryhas a cost ofliving index of146.04.
Switzerland is the second-most expensive country in which to live. Its cost ofliving index is123.35, saysnumbeo.com.
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