Comparable price level
BEA Regional Price Parities compare the general price level of goods, services and housing rents across states.
← All Top 5 listsTOP 5 · LOWER COST STATES · UPDATED JULY 2026
5 lowest-cost states to research
Five states with low overall price levels in BEA’s 2024 Regional Price Parities, paired with housing, wages, insurance, utilities and location-level checks.
YOUR CHECKLIST
What’s worth comparing first?
Your family, budget, and daily life come first. One great statewide number can’t make the whole decision for you.
Income alongside cost
A lower price level helps only when local wages, job stability and benefits support the household.
Address-level housing
Rent, insurance, property tax and maintenance can vary sharply inside a low-cost state.
Complete moving budget
Include transportation, health care, child care, utilities and travel to family—not only home price.
A GOOD PLACE TO START
States and cities worth a closer look.
This isn’t a one-size-fits-all ranking. We’ll show you what looks promising—and what you should double-check.
01MS
BEST FOR · the lowest statewide price level in this comparison
Mississippi
Jackson
Why investigate
BEA’s 2024 RPP places Mississippi at the bottom of the state price-level table used here.
Verify first
State cost profile →Job fit, wages, insurance, storm exposure, health access and neighborhood-level housing condition.
02AR
BEST FOR · low prices with a regional employment center
Arkansas
Little Rock
Why investigate
Arkansas is the second-lowest state price level in the HomeCostGrid BEA dataset.
Verify first
State cost profile →Income, car dependence, severe weather, insurance and the difference between Northwest Arkansas and the rest of the state.
03OK
BEST FOR · lower costs with a larger metro option
Oklahoma
Oklahoma City
Why investigate
Oklahoma combines a low statewide price level with Oklahoma City and Tulsa job markets.
Verify first
State cost profile →Tornado, hail and wind insurance, summer cooling, property condition and commute distance.
04LA
BEST FOR · low general prices outside the most exposed addresses
Louisiana
Baton Rouge
Why investigate
Louisiana remains among the lowest state price levels in BEA’s comparison.
Verify first
State cost profile →Flood and hurricane exposure, insurance availability, humidity, cooling, drainage and local job conditions.
05IA
BEST FOR · lower prices with established Midwest services
Iowa
Des Moines
Why investigate
Iowa is the fifth-lowest state price level in the 2024 data used for this ranking.
Verify first
State cost profile →Winter costs, property tax, flood context, wage fit and differences between Des Moines and smaller markets.
MAKE IT YOURS
Now turn the shortlist into your decision.
- Pick three exact cities.State averages are too broad.
- Build an after-tax budget.Add housing, care, transport, utilities and health.
- Verify eligibility and boundaries.Confirm directly with the agency or school.
- Visit like a resident.Test ordinary commutes and errands.
YOU MIGHT BE WONDERING
Let’s answer the big moving questions.
What is the cheapest state to live in?
Using the 2024 BEA statewide price-level measure in this guide, Mississippi is the lowest. Your cheapest personal option can differ once income, housing, insurance and transportation are included.
Does a low-cost state always have cheap homes?
No. Popular neighborhoods and fast-growing metros can be expensive even when the statewide average is low.
Should I move for lower costs alone?
Compare after-tax income, job stability, insurance, health care, transport and the exact housing payment before deciding.
PRIMARY SOURCES
Check the current data yourself.
Programs, laws and costs change. Follow the source before a financial or enrollment decision.