Top 10 States with the Lowest Cost of Living
We’ve had a lot of posts related to the cost of living and how it affects real estate and quality of life. With that in mind, a recent report from Realtor.com reveals their list of the top 10 states with the lowest cost of living. The say Americans are still feeling walloped with high prices every time they open their wallet—at the grocery store, gas pump, to pay for housing, and beyond.
To get their list, they examined the latest regional price parities data from the Bureau of Economic Analysis, which measures the differences in price levels across states and metropolitan areas. Basically, they ask how much will $100 will buy in goods, housing, and utilities in some states versus others. The state with the lowest cost of living is Arkansas….the most expensive? California…
“The three states with the lowest cost of living boast price levels more than 12% below the national level…That is to say, on average, the cost of goods and services is more than 12% lower than the national level in these states.” Said Realtor.com senior economic data analyst Hannah Jones. “
Click here to read the full story at Realtor.com.