Home Business amount The Best, Cheapest, and Most Affordable US Cities with Low Cost of Living

The Best, Cheapest, and Most Affordable US Cities with Low Cost of Living

  • The cost of living is rising all over the United States.
  • As finances weigh on Americans and the pandemic reshapes our lives, many are rethinking where they want to live.
  • The South could offer migrant homebuyers a more affordable cost of living.

It is becoming more and more expensive to live in the United States.

Due to rising inflation, US households paid almost $500 more in expenses in June compared to what they would have spent in 2018 and 2019.

With the shift to remote work and the general sense of reprioritization during the pandemic, many Americans are rethinking where they want to live.

An important factor for potential movers is the cost of living in a city and how much extra money they will have left after paying their rent or mortgage.

“With inflation rising so aggressively and people’s weekly wages and incomes not rising at the same rate, we are left with less discretionary money to spend each month,” said George Ratiu, head of economic research at Realtor.com, in a statement.

To determine where homebuyers can get the most bang for their buck, personal finance firm Kiplinger has ranked the least expensive cities in America.

Using data from the Council for Community and Economic Research, the company measured prices for housing, groceries, transportation, health care and various goods and services. After sorting through hundreds of cities and prices, Kiplinger’s researchers were able to identify places with the absolute lowest cost of living, primarily south of the Mason-Dixon line.

In states like Texas, Tennessee, and Alabama — which appear on the list multiple times — homebuyers can find several metros where they can expect a lower cost of living than the national average. But if the South isn’t your thing, here’s a comprehensive list of places you can living on a budget in the USA.