Every year, CNBC analyzes the ten most affordable (or cheapest) and the ten most expensive places to live in the US vis a vis its exclusive America’s Top States for Business study. CNBC bases its analyses on cost of living data, the price of housing, the price of energy and food costs, etc. which are all based on the 2018 Annual Average Cost of Living Index by the Council for Community and Economic Research.
Here are CNBC 10 Most Affordable (or Cheapest) Places to Live in the US.
- Wyoming, the Cowboy State
– 2-bedroom apartment rents for $881/month, one third the rent of such a unit in Seattle.
– Expect to pay $1,000/month in principal and interest on a 30-year fixed loan for a median priced home – compare this monthly cost to $7,000/month for a similar unit in NYC.
– 2019 Cost of Living score – 41 out of 50 points
– Top State’s Grade – A-
– Most expensive area in sate – Laramie
– Average home price – $271,475
– Monthly energy bill – $130.86
– Doctor visit – $106.00
- Indiana, the Crossroads of America
– Gas prices are 25% less than in Bellingham WA
– 2019 Cost of Living score – 42 out of 50
– Top State’s Grade – A-
– Most expensive area in state – Indianapolis
– Average home price – $250,625
– Monthly energy bill – $184.40
– Doctor visit – $93.91
- Kansas, the Sunflower State
– Ground beef sells for nearly 45% less in Kansas than NYC
– Rent of $800/month for a 2-bedroom apartment in Manhattan KS
– 2019 Cost of Living score – 43 out of 50
– Top State’s Grade – A-
- Most expensive area – Manhattan
- Average home price – $311,911
- Monthly energy bill – $179.18
- Tennessee, the Volunteer State TIE
– 2019 Cost of Living score – 45 out of 5-
– Top State’s Grade – A
– Most expensive area – Nashville-Murfreesboro
– Average home price – $318,571
– Monthly energy bill – $157.08
– Doctor visit – $94.52
- Alabama – Heart of Dixie and Sweet Home State
– Dental visit is less than half the cost, $66, in San Francisco.
– 2019 Cost of Living score – 45 out of 50
– Top State’s Grade – A
– Most expensive area – Mobile
– Average home price $241,783
– Monthly energy bill – $192.98
– Doctor visit – $116.24
- Michigan – the Great Lakes state
– 6-pack of beer costs $8 compared to $12 in Rochester NY
– 2019 Cost of Living Index score – 46 out of 50
– Top State’s Grade – A
– Most expensive area – Grand Rapids
– Average home price – $288.92
– Monthly energy bill – $165.99
– Doctor visit – $96.94
- Missouri, the Show Me state
– Joplin has the lowest real estate prices in the country – a 4-bedroom home costs just over $200,000.
– 2019 Cost of Living scores – 47 out of 50
– Average home price – $276,197
– Monthly energy bill – $160.33
– Doctor visit – $94.24
- Arkansas, the Natural State
– McDonald’s Quarter Pounder with chees costs $3.90 in Little Rock; in San Francisco, it costs $5.58.
– 2019 Cost of Living scores – 48 out of 50
– Top State’s Grade – A
- Most expensive area – Little Rock
- Average home price – $339,778
- Monthly energy bill – $149.97
- Doctor visit – $114.28
- Oklahoma State – the Sooner State for when President Harrison opened unassigned land to settler at no cost so get there sooner rather than later
– Ponca County has lowest apartment rents in country at $500/month for 2-bedroom apartment
– 2019 Cost of Living scores – 49 out of 50
– Top State’s Grade – A
– Most expensive area – Enid
– Average home price – $317,039
– Monthly energy bill – $163.78
- Doctor visit – $125.
- Mississippi, the Magnolia/Hospitality state
- Steaks cost 50% less than in NY
- 2019 Cost of Living scores – 50 out of 50
- Top State’s Grade – A+
- Most expensive area – Jackson
- Average home price – $275,509
- Monthly energy bill – $127.10
- Doctor visit – $91.27
