More than 1 in 5 Illinois residents live in or near Chicago, the third most populous city in the United States. Skyscrapers and Lake Michigan in Chicago. When crude oil doesn’t need to travel long distances, the markup for gas is much lower.ĭiegoMariottini // Shutterstock #17. Louisiana has a lot of oil refining, so gas doesn’t need to travel as far to be sold, making fuel prices lower than the national average. But living in New Orleans costs as much as 20% more than anywhere else in the state. On average, Louisiana housing costs are 13% lower than the national average, according to the Council for Community and Economic Research. Lower food and utility expenses help keep New Mexico’s overall cost of living down. The cost of food in New Mexico was 5.4% below the national average in 2021. New Mexico residents pay the lowest monthly energy bills out of all 50 states and are beaten only by the District of Columbia, according to WalletHub. Residential suburbs in Albuquerque, New Mexico. Lower taxes and home prices mean more money in residents’ pockets, lowering the overall cost of living. In addition to lower home prices, South Carolina also collects fewer tax dollars per resident than all but seven states, according to a Tax Foundation analysis of state tax revenues. That’s about half the national average of $449,300 calculated by the Federal Reserve Bank of St. The average home price in South Carolina in 2022 was $239,500, according to a Rocket Homes analysis. The scenic river view and waterfront houses in North Myrtle Beach, South Carolina. Natural gas and electricity prices for residents and businesses are much lower in South Dakota than the national average, according to the Energy Information Administration. South Dakota does not have an individual or corporate income tax, which keeps more money in residents’ and business owners’ pockets. The western suburbs of Rapid City, South Dakota. Low gas and utilities costs are key factors in the overall cost of living. Kentucky has some of the lowest electricity prices east of the Mississippi River, according to the Energy Information Administration. Since Wisconsin is not as heavily dependent on imported energy sources as many other states, its gas prices tend to stay lower than elsewhere.ĭowntown Louisville, Kentucky, as seen at night.Īccording to AAA’s national gas prices index, Kentucky’s gas prices are consistently lower than the national average. According to the Energy Information Administration, Wisconsin is one of the nation’s top fuel ethanol producers. Lower taxes keep the state more affordable for residents and businesses. Wisconsin has a conservative fiscal policy and experienced the lowest state and local tax burden in 50 years in 2022, according to a report by the Wisconsin Policy Forum. Madison, Wisconsin, as viewed from across the water on a bright, sunny day. That helps keep prices low and the state more affordable. The state has the country’s lowest corporate income tax rate, according to the nonprofit Tax Foundation. North Carolina boasts a diverse technology, finance, and aerospace job market. North Dakota’s unemployment rate was among the lowest in the U.S., according to the Bureau of Labor Statistics.Īn aerial view of Charlotte, North Carolina, on a sunny day.ĭespite its low cost of living, North Carolina has some of the top health care facilities in the country, an extensive education system, and easy transportation, including four international airports, according to the North Carolina Department of Commerce. North Dakota’s booming economy, high median wages, and low state income taxes made this Midwestern state an affordable place to live in 2022. Buildings in Fargo, North Dakota, as seen at night.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |