Cheapest States To Live 2024. This section ranks the cheapest states to live in according to the council for community and economic research’s figures. We based our ranking of the 5 cheapest states to live in the us with the best quality of life on the prices of housing and renting and the average cost of living.

The most affordable state is utah, where residents spend the least percentage of their income on necessities (63.3%) and have the most annual income left over ($32,732). All prices are in us dollars, subject to.