Least Expensive State to Live
The cost of living is a key factor when businesses decide where to set up shop. That's why Cost of Living is one of the categories we measure as we rank America's Top States for Business. The lower the cost of living, the higher the score. Here are America's least expensive states to live in as ranked by CNBC, as well as a sampling of the prices you'll pay for some basics in the most expensive area of the state. (Average price data based on Council for Community and Economic Research C2ER Cost of Living Index, Q1 2013.)
—By CNBC Senior Correspondent Scott Cohn.
Posted 11 July 2013
10. MISSISSIPPI
Average Home Price (Jackson Metro): $248,167
Half Gallon of Milk: $2.51
T-Bone Steak: $10.44
Monthly Energy Bill: $123.09
Doctor Visit: $80.50
2013 Cost of Living Rank: 10th Cheapest
2013 Cost of Living Score: 41 (out of 50)
2012 Cost of Living Rank: 8th Cheapest
9. TEXAS
Average Home Price (Houston Metro): $239,040
Half Gallon of Milk: $2.22
T-Bone Steak: $10.03
Monthly Energy Bill: $151.58
Doctor Visit: $94.70
2013 Cost of Living Rank: 9th Cheapest
2013 Cost of Living Score: 42 (out of 50)
2012 Cost of Living Rank: 3rd Cheapest
7. KANSAS (*TIE)
Average Home Price (Dodge City Metro): $261,000
Half Gallon of Milk: $2.49
T-Bone Steak: $9.50
Monthly Energy Bill: $141.01
Doctor Visit: $90.00
* 2013 Cost of Living Rank: 7th Cheapest
2013 Cost of Living Score: 44 (out of 50)
2012 Cost of Living Rank: 10th Cheapest
7. ARKANSAS (*TIE)
Average Home Price (Little Rock Metro): $301,250
Half Gallon of Milk: $2.26
T-Bone Steak: $10.84
Monthly Energy Bill: $134.64
Doctor Visit: $100.50
* 2013 Cost of Living Rank: 7th Cheapest
2013 Cost of Living Score: 44 (out of 50)
2012 Cost of Living Rank: 5th Cheapest
6. INDIANA
Average Home Price (Fort Wayne Metro): $284,543
Half Gallon of Milk: $1.94
T-Bone Steak: $11.19
Monthly Energy Bill: $114.72
Doctor Visit: $86.33
2013 Cost of Living Rank: 6th Cheapest
2013 Cost of Living Score: 45 (out of 50)
2012 Cost of Living Rank: 7th Cheapest
5. NEBRASKA
Average Home Price (Hastings Metro): $263,000
Half Gallon of Milk: $1.98
T-Bone Steak: $10.99
Monthly Energy Bill: $127.26
Doctor Visit: $71.33
2013 Cost of Living Rank: 5th Cheapest
2013 Cost of Living Score: 46 (out of 50)
2012 Cost of Living Rank: 11th Cheapest
3. KENTUCKY (*TIE)
Average Home Price (Louisville Metro): $232,139
Half Gallon of Milk: $1.96
T-Bone Steak: $8.99
Monthly Energy Bill: $123.43
Doctor Visit: $86.10
* 2013 Cost of Living Rank: 3rd Cheapest
2013 Cost of Living Score: 48 (out of 50)
2012 Cost of Living Rank: 4th Cheapest
3. IDAHO (*TIE)
Average Home Price (Boise Metro): $256,124
Half Gallon of Milk: $1.74
T-Bone Steak: $9.48
Monthly Energy Bill: $146.59
Doctor Visit: $118.33
* 2013 Cost of Living Rank: 3rd Cheapest
2013 Cost of Living Score: 48 (out of 50)
2012 Cost of Living Rank: 9th Cheapest
2. TENNESSEE
Average Home Price (Jackson-Madison County Metro): $211,238
Half Gallon of Milk: $2.64
T-Bone Steak: $8.66
Monthly Energy Bill: $145.98
Doctor Visit: $95.00
2013 Cost of Living Rank: 2nd Cheapest
2013 Cost of Living Score: 49 (out of 50)
2012 Cost of Living Rank: 2nd Cheapest
1. OKLAHOMA
Average Home Price (Ponca City Metro): $265,154
Half Gallon of Milk: $2.33
T-Bone Steak: $10.22
Monthly Energy Bill: $149.78
Doctor Visit: $78.33
2013 Cost of Living Rank: Cheapest
2013 Cost of Living Score 50 (out of 50)
2012 Cost of Living Rank: Cheapest