Cheapest States To Live In 2024 Ranked By Income. Alabama is currently the #1 cheapest state to live in for 2024 with an average home value of $216,564, cheapest homes rank of #10/50, overall affordability rank of #1/50, and total tax burden rank of #12/50. States (and their total cost of living and cost as percentage of income) in 2024:
To identify the best states to live in, wallethub compared the 50 states based on 51 key indicators of livability. In contrast, hawaii, the most expensive state, has a cost of living index of 181.5.