Top States for Business
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America’s cheapest states to live in 2015

People visit the birthplace of Elvis Presley in Tupelo, Mississippi.

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1. Mississippi

Mississippi is known as the Hospitality State, and it is awfully nice of them to offer prices like these. If famous Mississippi native Elvis Presley were still alive, he'd be able to pick up some bananas for one of his famous peanut butter, bacon and banana sandwiches for just 56 cents a pound. A loaf of bread for $1.18 is 20 percent below the national average. OK, Elvis wouldn't go pick up the fixin's himself. He'd send somebody. But you get the idea. Mississippi has a lot of things working against it in our overall Top States for Business rankings. But if low cost of living is a priority, this is the place to be.

  • 2015 Cost of Living rank: cheapest state
  • 2015 Cost of Living score: 75 (out of 75 points)
  • 2014 Cost of Living rank: 6th cheapest
  • Average home price (Hattiesburg Metro): $228,746
  • Half gallon of milk: $2.69
  • Monthly energy bill: $144.91
  • Doctor visit: $87.00
Stan Honda | AFP | Getty Images