There’s no doubt that the cost of living has been on the rise for many years. And when it comes down to deciding where to live, the cost of living can be a huge aspect to consider. If housing, food, transportation, health care, and entertainment are more expensive, people need to ensure they are earning enough to maintain the standard of living they expect. But, good news, it looks like Georgia and South Carolina are on the least expensive states to live in list!
The Cost of Living Index
Stacker used data from the Council for Community and Economic Research to look at which states had the lowest cost of living in 2022.
The cost of living was determined using a voluntary survey to look at the average in metro areas and cities in each state. The Cost of Living Index is calculated based on cost of more than 60 goods and services.
As a result of the voluntary survey, it looks like the least expensive states are in the South and Midwest.
Out of the 25 least expensive states to live in, South Carolina ranked a bit worse than Georgia. South Carolina ranked at number 20. According to Stacker, the average home price last year was $239,500. That’s about half of the national average.
Additionally, South Carolina collects fewer tax dollars per resident than all but 7 states.
Georgia definitely ranked much better on the list of the least expensive states to live in! You’ll see where Georgia landed in the list below!