Inflation is all over, and it is hitting basically all that we purchase. With costs of goods and services all over the world increasing at rates not found in 40 years, deal hunting is a national pastime. The most recent Consumer Price Index for June came in considerably hotter than anticipated, at 9.1%.
Organizations are hunting as well — and by and large moving their operations to places where their cash, and that of their workers, goes further. That is the reason CNBC’s yearly America’s Top States for Business study remembers Cost of Living for our formula for ranking the states.
We rate the states in view of an index of costs for a wide scope of goods and services. These ten states were the least cheap to live in over the course of the last year. Likewise listed are average costs for chosen things keep going year in light of the 2021 Average Cost of Living Index by the Council for Community and Economic Research, C2ER. Costs have just gone higher this year, so we have additionally incorporated the ongoing local expansion rate year-over-year from the U.S. Agency of Labor Statistics. Keep in mind that you can lower the cost of living by sharing the rent if you simply find a roommate.
Purchasing a home or leasing an apartment in Meridian, Mississippi, will cost you generally 50% of what it would in Bozeman, Montana. All the other things are less expensive, as well. A visit to the specialist costs generally half what it would in Manchester, New Hampshire. Hankering some pizza? A New York-style pie will cost you 25% short of what it would in Rochester, New York, here in America’s cheapest state to live in.
2022 Cost of Living Score: 50 out of 50 points (Top States Grade: A+)
Customer Price Index (May, South Region): Up 9.2%
Average home cost (Meridian): $305,417
Half gallon of milk: $2.03
Monthly energy bill: $160.90
In Manhattan, Kansas, a ribeye steak at the grocery store will cost you around 25% short of what it would in Manhattan, New York. OK, that one was simple. Your home will cost around one-6th as much in Midwestern Manhattan as it would on the renowned island back east.
2022 Cost of Living Score: 49 out of 50 points (Top States Grade: A+)
Consumer Price Index (May, Midwest Region): Up 8.8%
Average home price (Manhattan): $350,219
Half gallon of milk: $1.82
Monthly energy bill: $173.50
On the off chance that you’re purchasing a sweet home in Birmingham, you will pay less than a third of what you would for a similar house in Anaheim, California. Think your eyes may be misleading you? Head to the local optometrist, which will cost you around 30% less in Alabama than a visit to the eye doctor in Vero Beach, Florida.
2022 Cost of Living Score: 48 out of 50 points (Top States Grade: A+)
Consumer Price Index (May, South Region): Up 9.2%
Average home price (Birmingham): $334,577
Half gallon of milk: $2.06
Monthly energy bill: $176.43
A container of peaches in the express that is known for them will cost around 30% less in Georgia than in Southern California. What’s more, in the home of Coca-Cola, a liter will cost you around 20% not exactly in Wilmington, Delaware. What about something without home-field advantage? A yoga class will cost you around 20% less in Atlanta than it would in Los Angeles.
2022 Cost of Living Score: 47 out of 50 points (Top States Grade: A+)
Consumer Price Index (May, South Region): Up 9.2%
Average home price (Atlanta): $449,444
Half gallon of milk: $1.66
Monthly energy bill: $122.51
These Nashville costs will be music to your ears. A dozen eggs are about $1 cheaper than they are in Stamford, Connecticut. Over in Memphis, the bananas for your Elvis Presley-style fried peanut butter, bacon, and banana sandwich will cost around 25% short of what they would in Boston.
2022 Cost of Living Score: 46 out of 50 points (Top States Grade: A)
Consumer Price Index (May, South Region): Up 9.2%
Average home price (Chattanooga): $357,465
Half gallon of milk: $2.19
Monthly energy bill: $134.42
Show me home in Columbia, Kansas City, or St. Louis, and I’ll show you a deal. Home costs in The Show Me State are generally half what they are in Boston. So you’ll have the option to pay your mortgage and nevertheless have cash in your budget for an evening out on the town. Perhaps a movie? It will cost you 20% less in Columbia than it would in Lima, Ohio.
2022 Cost of Living Score: 45 out of 50 points (Top States Grade: A)
Consumer Price Index (May, Midwest Region): Up 8.8%
Average home price (Columbia): $382,188
Half gallon of milk: $2.24
Monthly energy bill: $161.78
Indeed, even in a college town like Ames, leasing an apartment won’t blow away your financial plan. You can get a decent two-bedroom for well under $1,000 each month. In an alternate college town, Austin, Texas, you can hope to be on the hook for 50-60% more. Go Iowa State Cyclones!
2022 Cost of Living Score: 44 out of 50 points (Top States Grade: A)
Consumer Price Index (May, Midwest Region): Up 8.8%
Average home price (Ames): $401,052
Half gallon of milk: $2.29
Monthly energy bill: $148.81
What about a mountain of Southern fried chicken in The Mountain State? Pound for pound, it will cost you not exactly half what it would in Seattle, where it wouldn’t precisely be “Southern” fried chicken in any case. Same thing for the oil to fry it in — generally around 50% of the cost in Morgantown contrasted with up north.
2022 Cost of Living Score: 43 out of 50 points (Top States Grade: A-)
Consumer Price Index (May, South Region): Up 9.2%
Average home price (Morgantown): $329,832
Half gallon of milk: $2.41
Monthly energy bill: $142.65
Passing through the Crossroads of America is a breeze. Furthermore, in the event that you really want to get your tires adjusted in Bloomington, it will cost you half of what it would in Lafayette, Louisiana. Like wherever else, gas costs here are high. Yet, they’re running around 20% not exactly in California.
2022 Cost of Living Score: 42 out of 50 points (Top States Grade: A-)
Consumer Price Index (May, Midwest Region): Up 8.8%
Average home price (Bloomington): $408,649
Half gallon of milk: $2.00
Monthly energy bill: $161.50
Arkansas calls itself The Natural State, however in some cases you simply need a burger. Fortune has smiled on you here, in light of the fact that a McDonald’s Quarter Pounder with Cheese in Hot Springs will cost you just $4.13, or around 30% short of what it would cost you in New York City. Afterward, when you need to have your cholesterol looked at, your visit to the doctor will cost about half what it would in Dubuque, Iowa.
2022 Cost of Living Score: 41 out of 50 points (Top States Grade: A-)
Consumer Price Index (May, South Region): Up 9.2%
Average home price (Hot Springs): $390,814
Half gallon of milk: $1.89
Monthly energy bill: $152.49
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