Georgia is Ranked the 6th Most Affordable State in the US
Friday, October 7th, 2022
The experts at Lensa wanted to find the most affordable US states by comparing the overall cost of living in each state to the average salary in each state. Lensa also looked at the cost of groceries, housing, utilities, and transportation to find the least expensive US states.
You can find the full study here: https://lensa.com/insights/
The Most Affordable States:
|
Rank
|
State
|
Difference between cost of living and average wage
|
Cost Index Score
|
Grocery Cost Index Score
|
Housing Cost Index Score
|
Utilities Cost Index Score
|
Transportation Cost Index Score
|
|
1
|
Virginia
|
49.64%
|
100.7
|
96.1
|
112.1
|
96.5
|
88.7
|
|
2
|
Illinois
|
44.80%
|
94.5
|
97.4
|
85.2
|
95.8
|
106.5
|
|
3
|
Texas
|
41.24%
|
91.5
|
91.2
|
83.5
|
103.3
|
90.9
|
|
4
|
Utah
|
37.40%
|
98.4
|
97.9
|
97.6
|
93.2
|
99.8
|
|
5
|
Minnesota
|
36.91%
|
101.6
|
105.0
|
90.4
|
96.2
|
102.8
|
|
6
|
Georgia
|
36.82%
|
89.2
|
96.3
|
74.3
|
90.3
|
95.7
|
|
7
|
Colorado
|
36.00%
|
105.6
|
99.9
|
116.7
|
87.9
|
103.0
|
|
8
|
Wyoming
|
35.80%
|
89.3
|
103.5
|
81.7
|
87.4
|
94.5
|
|
9
|
New Jersey
|
35.78%
|
125.1
|
108.7
|
137.0
|
104.6
|
106.5
|
|
10
|
New Hampshire
|
33.88%
|
109.7
|
99.7
|
110.3
|
115.2
|
99.6
|
Virginia takes the top spot as the most affordable state in the US, with the average worker taking home 49.64% of the cost of living. The Old Dominion State is home to some of the highest-earning counties in The US, thanks to its proximity to Washington, D.C, which attracts high earners in law and policy-making.
Illinois takes second place, with the average worker taking home 44.80% more than the average cost of living in The Prairie State. The cost of living in Illinois is slightly cheaper than the US average, thanks to affordable housing. The average salary is also $25,000 higher than the national average as Illinois is the business hub of the Midwest.
The Lone Star State comes next. The difference between cost of living and average wage is 41.24%. The cost of living is exceptionally low in Texas as residents don’t have to pay state income tax. Also, housing is cheaper than the national average and the state has a booming economy in the technology and healthcare sectors, driving average salaries up.
The Most Affordable State for Groceries:
|
Rank
|
State
|
Grocery Cost Index Score
|
|
36
|
Michigan
|
91.0
|
|
48
|
Texas
|
91.2
|
|
20
|
Idaho
|
91.6
|
|
26
|
Indiana
|
92.4
|
|
15
|
Arkansas
|
92.5
|
|
40
|
Kansas
|
92.6
|
|
29
|
Tennessee
|
93.0
|
|
8
|
Mississippi
|
93.2
|
|
17
|
Kentucky
|
93.3
|
|
28
|
Oklahoma
|
94.6
|
The Great Lake State has the cheapest groceries in the nation with a grocery cost index score of 91.0. The average price being 9% lower than the national average. The state’s large agricultural sector is to thank for these low grocery prices.
Further Insights:
-
Hawaii is the least affordable state overall, as the cost of living is a whopping 20.32% higher than the average wage.
-
Hawaii’s grocery bills are nearly 60% more expensive than the US average thanks to transport costs. With a grocery cost index score of 157.9.
