Have you ever wondered what areas are the cheapest to live in the United States? Well, right off the bat, I’m sure you can cancel out New York, Los Angeles, and also my last residence, Palm Beach, Florida.
My wife and I recently moved to West Michigan and everything seems to be on sale! Food, entertainment, and residences are all half the price that we’re used to.
Let me give you an example: Our Florida apartment was a 1 bedroom, 1 bath unit and it cost us $875 a month + utilities. This price did include some amenities like a pool, tennis courts, and a small workout facility (maybe 10 machines), but listen to what we have now in West Michigan. While we are looking for a permanent property, we are renting a 4 bedroom, 2 bath home (with 4 outbuildings and some property), for $600 a month + utilities. It’s more than double the space for about 2/3 of the cost.
Naturally, I have grown curious about the cost of living in different areas within the USA. Am I currently living in one of the cheapest areas? Or are there other areas with an even lower cost of living?
Top 10 Cheapest Places to Live in the USA
According to Kiplinger.com, the Top 10 Cheapest Places to Live in the USA are:
1) Battle Creek, MI
2) Danville, IL
3) Decatur, IL
4) Detroit, MI
5) Monroe, MI
6) Saginaw, MI
7) Michawaka, MI / South Bend, IN
8) Abilene, TX
9) Akron, OH
10) Albany, GA
The average home prices for these locations range from $52,000 (Detroit) to $106,838 (Albany).
When I saw this list, I laughed out loud! I’m currently living in Michigan, and 5 out of the top 7 most affordable areas are in Michigan. I guess I picked a good spot!!
Now, of course these locations may not be paradise, but they’ll definitely be more affordable than where you live now.
Do you live near any of these locations? Have you ever considered moving to a cheap area within the US?
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.