4. South Dakota
The average home value in South Dakota is $277,809. While it did not make the cut this last year, South Dakota consistently ranks in the top 10 cheapest US states. It is also one of eight US states that does not have personal property tax. For these reasons, its natural beauty, and more, South Dakota is one of the fastest-growing states in the US.
5. North Carolina
North Carolina is the most expensive state on this list, with an average home value of $296,021. However, this state has become a magnet for millennials. The climate is appealing year-round, the coastal stretches and the mountains, and the growing job market are perhaps some of the reasons for the migration. Not only is the cost of living generally affordable, but higher education is also among the best in the country, with Chapel Hill and the University of North Carolina.
It can be a very tricky road to navigate buying a house anywhere, even in the cheapest states to buy a house. We advise you to speak to the best mortgage professional in your area for assistance. They can help you see the bigger picture.
The cost of living is the amount of money required to pay for your living expenses in a certain area. Typical cost of living expenses include housing and utilities, healthcare, groceries, and transportation. If you add these expenses up into the cost-of-living index, you can compare the cost of living in different states.
The 5 states with the lowest cost of living are:
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