17 STATES WHERE THE COST OF LIVING IS ACTUALLY AFFORDABLE

Over the last few years, economic negativity about personal finances has dominated the headlines. Things like inflation, recession and rent increases have weighed heavily on the American consumer.

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The cost of living in some corners of the United States is overwhelming, especially in the Pacific Northwest, New England, California, Alaska and Hawaii. In those areas, it costs significantly more than the national average of $61,334 per household needed to cover all essential expenses, according to World Population Review. Households in Hawaii, for example, need to spend about 79% more than the national average to live there, while the cost is about 49% above average in Massachusetts and Washington, D.C.

Among the 10 costliest places to live, per the World Population Review report, New Hampshire comes in at 10th, at 15% above the national average.

But what if you have the freedom to pick up and more anywhere you’d like in the United States? Where could you and your family reside where the cost of living is actually under the national average — in some cases, actually much lower? World Population Review lists 27 states where it costs below the national average to live each year. To find the most budget-friendly lifestyle, head to the Midwest and the South, where you’ll find 16 of the 17 least-expensive states.

Here is that group of 17, representing just about one-third of U.S. states, the percentage of the national cost of living average that is required to live there.

• Wyoming: 92.80%
• Michigan: 92.70%
• Louisiana: 92.00%
• Indiana: 91.50%
• Georgia: 91.00%
• Illinois: 90.80%
• Tennessee: 90.40%
• Arkansas: 90.30%
• West Virginia: 90.30%
• Nebraska: 90.10%
• Iowa: 89.70%
• Alabama: 88.80%
• Missouri: 88.40%
• Kansas: 87.70%
• Oklahoma: 86.00%
• Mississippi: 85.30%

Learn: 4 Red Flags as You Check Your Bank Statements Every Month

If cutting your cost of living is vital to your family budget, spending some time researching these 17 states to see if one’s a fit for you makes financial sense.

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This article originally appeared on GOBankingRates.com: 17 States Where the Cost of Living Is Actually Affordable

2024-02-10T12:05:59Z dg43tfdfdgfd