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America’s cheapest states to live in 2015

Women wearing decorative hats pose for a picture prior to the 138th running of the Kentucky Derby at Churchill Downs on May 5, 2012 in Louisville, Kentucky.

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6. Kentucky

The Kentucky Derby, held the first Saturday in May at Churchill Downs, claims to be the oldest continuously run horse race in the U.S. And one of the oldest of the many traditions surrounding the Run for the Roses is to drink a cold mint julep, served in an elegant silver or pewter cup. For the classic mint julep, you'll need ice, mint, a generous amount of Kentucky bourbon, and a spoonful of sugar. The sugar in Kentucky is a bargain—just $1.99 on average for a 5-pound bag. That's a lot of juleps.

  • 2015 Cost of Living rank: 6th cheapest
  • 2015 Cost of Living score: 68 (out of 75 points)
  • 2014 Cost of Living rank: Cheapest state
  • Average home price (Louisville-Jefferson County Metro) $241,661
  • Half gallon of milk: $2.01
  • T-bone steak: $10.25
  • Monthly energy bill: $126.60
  • Doctor visit: $88.50
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