By identifying themes and consistencies across multiple studies, we were able to build a more precise and complete list. The states that appeared in the top 10 among all four studies received preference to rank higher on the list more so than just “living wage”. While living wage was a factor in the rankings, it was not the sole determining variable for state placement. For our purposes of this analysis, a “living wage” has been defined as the minimum income necessary for a worker to meet their basic needs (food, houses, clothing, etc).
With no further ado, here’s Transactly’s List of Top 10 Cheapest States to Live In:
#10 – Ohio
- Living Wage: $52,013
- Median Household Income: $52,407
- Average Home Price: $169,900
- Made the Top 10 in 2 of 4 studies
- Specialty: Cheap Medical and Health Care
#9 – Missouri
- Living Wage: $53,654
- Median Household Income: $51,542
- Average Home Price: $179,900
- Made the Top 10 in 3 of 4 studies
#8 – Alabama
- Living Wage: $50,585
- Median Household Income: $46,472
- Average Home Price: $204,900
- Made the Top 10 in 3 of 4 studies
#7 – Tennessee
- Living Wage: $50,152
- Median Household Income: $48,708
- Average Home Price: $244,900
- Made the Top 10 in 3 of 4 studies
- Specialty: Cheap Food & Necessities
#6 – Michigan
- Living Wage: $53,281
- Median Household Income: $52,688
- Average Home Price: $185,000
- Made the Top 5 in 3 of 4 studies
#5 – Oklahoma
- Living Wage: $52, 805
- Median Household Income: $49,767
- Average Home Price: $183,421
- Made the Top 6 in 3 of 4 studies
#4 – Indiana
- Living Wage: $52, 207
- Median Household Income: $52,182
- Average Home Price: $184,900
- Made the Top 10 in 4 of 4 studies
- Specialty: Cheap Medicine
#3 – Kansas
- Living Wage: $53,201
- Median Household Income: $55,477
- Average Home Price: $194,500
- Made the Top 10 in 4 of 4 studies
#2 – Arkansas
- Living Wage: $49,970
- Median Household Income: $43,813
- Average Home Price: $174,900
- Made the Top 3 in 3 of 4 studies
- Specialty: Cheapest Housing