The 10 Most Cost-Effective States For Anyone With A Tight Budget

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Whether you’re a recent graduate, a family looking for a cost-effective lifestyle, or someone planning retirement, these destinations offer a glimpse into a life where affordability meets quality, opening new doors to a sustainable and comfortable living.

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Kansas
With a Cost of Living Index of 86.5, Kansas stands out for its affordability, particularly in housing costs, which are 28% below the national average. The median price for a single-family home is $198,199, and the average rent for a two-bedroom apartment is $995 per month.

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Alabama
Holding a Cost of Living Index of 87.9, Alabama’s housing costs are notably affordable. The average price for a single-family home is $194,695, and rent averages $1,005 for a two-bedroom apartment.

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Oklahoma
With the same Cost of Living Index as Alabama, Oklahoma’s median home price is $171,057, and rents average $999 per month. The state struggles with a higher poverty rate.

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Georgia
With an index of 88.8, Georgia offers economical housing, ranking fourth lowest in the nation. The median income for a family of four is $58,952 per year, while the cost of living is $79,955.20.

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Tennessee
The state’s Cost of Living Index is 89.0. Tennessee boasts affordable housing, with the typical single-family home costing $276,963, and an average two-bedroom apartment renting for $1,138 a month.

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Missouri
Missouri features a Cost of Living Index of 89.8, offering a balanced mix of urban and rural living with a typical home value of $213,000 and a median household income of $57,400.

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Iowa
With an index of 89.9, Iowa’s economy is diversified, and its typical home value stands at $181,000. The Des Moines area is the state’s largest metropolitan area.

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West Virginia
The state offers a Cost of Living Index of 90.5, with a typical home value of $127,000. Charleston, the state’s capital, contributes significantly to its GDP through tourism.

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Indiana
Indiana’s Cost of Living Index is 90.6. Indianapolis anchors the largest metropolitan area, and the typical home value is $206,000.

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Arkansas
Rounding out the list with a Cost of Living Index of 90.9, Arkansas has a typical home value of $167,000 and a median household income of $49,000.