5 Low Cost of Living States to Consider
February 26, 2020
No matter where you decide to live, one thing you likely have on your mind is the cost of living and all the factors (housing, grocery, health care, etc.) that make up this number. We understand how difficult this can be and have compiled a list of five low cost of living states you might want to consider to keep your budget and personal finances intact.
Low Cost of Living States
As the 19th state admitted to the United States in 1816, Indiana has come a long way since its establishment. In addition to being known for its manufacturing, politicians, and the Indianapolis 500, Indiana is known for being one of the lowest cost of living states.
Within Indiana, the cost of living in the city of Fort Wayne is approximately 21% less than the national average with the median home price sitting at $135,100. Filled with historic landmarks, beautiful museums, and family-friendly facilities, there is no lack of activities to discover in Fort Wayne.
Toledo, Ohio, with a population of 276,000, takes the crown for having the lowest median home price on our list, that being $68,500. As far as activities, Toledo is known for its minor league baseball team that plays at the famous Fifth Third Field, as well as museums like the Toledo Museum of Art, and various outdoor attractions for those that like spending time in nature.
The ‘Sunflower State’ is a nice option if you wish to live in a location that truly experiences all four seasons. Overall, the state’s cost of living is almost one-fifth less than the national average.
With transportation costs 26.1% less than the U.S. average, Topeka, Ohio is a wonderful city to consider. Interested in politics? Topeka is home to Kansas’s State Capitol Building which offers historic tours of the facility. The city’s own Lake Shawnee gives residents the opportunity to boat, fish, swim, camp, and participate in recreational sports like golf and tennis.
The low cost of groceries, health care, and housing all make Michigan one of the lowest cost of living states. Michigan actually ranks sixth among the fifty states for having the lowest healthcare cost.
A great city to consider is Midland. The median home price in Midland, Michigan, which is just a 20-minute drive from Lake Huron, is $137,700, significantly less than the national average and slightly less than the state’s average. Looking to rent? Not a problem, Midland’s apartment prices are close to a third less than the national average. Midland is home to 28 schools, a mix of public and private, for you to choose from.
Lastly, we head south to Texas which remains below the national average which is attributed to the state’s low housing and low grocery prices. In fact, Texas is leading the nation with seven of its cities landing in the top ten on a list of cities in the U.S. with the cheapest grocery prices.
Among the many wondrous cities in the state, Wichita Falls is one to consider with the median home price being $95,700, almost half that of the state it resides in. Overall, Wichita Fall’s cost of living prices ranks 25.5% less than the US average with low grocery costs factoring in heavily. Witchita Falls has no lack of outdoor attractions, the most popular being the ‘River Bend Nature Center’ and ‘Lucy Park’. Witchita is also only a two-hour drive to Fort Worth and a two hour and thirty-minute drive to Dallas.
No matter where you live, be sure to take a look at all factors involved, like groceries, health insurance, and activities. Choosing a low cost of living state does not mean watering down your lifestyle. The great benefit of moving to a lower cost of living area should help you keep more money in your pockets and bank accounts and give you the freedom to spend your money how you choose.
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