The 10 States With the Lowest Cost of Living When deciding which state to call home or set up your small business in, the cost of living is a major factor. Cost of living refers to the amount of money necessary to maintain a certain standard of living and includes essential expenses such as housing, utilities, food, clothing, health care, and taxes. It can be used to compare the affordability of one state to another.
Cost of living also impacts the salaries paid in a given area. Higher-cost areas like Washington, D.C., tend to offer higher salaries to compensate for the high cost of living. If you're relocating your business or opening in a new state, factor the cost of living into potential employee salaries.
10. Indiana
9. Tennessee
8. New mexico
7. Alabama
6. Georgia
5. Missouri
4. Kansas
3. Arkansas
2. Oklahoma
1. Mississippi
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