Moving? Don’t know where to go? Feeling adventurous but need to be realistic as well? Totally understandable. Below we’ve listed the most affordable states to live and work in 2020.
The number one cheapest state to live in is Mississippi according to the World Population Review. They have the lowest average cost of living being about 19% lower than the national average. Their cost for housing ranks the first in the nation. Their personal necessity items are some of the cheapest as well. This itself makes it an affordable state to live in.
It is also said that the cost of raising a family of four in Mississippi is $24.25 an hour. Their minimum wage is $7.25 however that is a closer gap then other states. It still however requires at least three people to be working at least minimum wage to live.
Who doesn’t love Texas? Even if you’ve never been it’s worth a shot. In 2002 Texas deregulated the state’s electricity market within the state. This is a huge advantage to both homeowners but also business. This made the market for electricity in Texas competitive to ensure you can get the best prices for you and your needs. Different plans are also available which helps ensure even more that you find something that’s best suited to your needs. This also makes it affordable to both live and work in. You can try Energybot to learn more information on how the electricity market in Texas works to your advantage.
Texas is home to many company headquarters and Fortune 500 companies. This provides hundreds of job opportunities that are available for citizens. This makes Texas a great place to go job search as more and more companies move to the main cities located in Texas. If you plan to set up a business in Texas, then you can check tips on setting up an LLC at Texas LLC.
Texas too warm for you? Michigan is also an affordable option. It ranks second in the grocery cost sector and tenth in the housing price sector. This helps to make up for its 25th rank in the utilities sector. Overall this is a decent balance in prices when you compare it to the overall scale of 50 states. Also, if you live in Michigan, you can read Pat Leavy’s article guide if you are interested in selling your house to new buyers who wish to leave and work in the area.
Overall cost of living is also an important factor. The American average is described as 100. Anything larger than that is above the average and anything below is under the average. Michigan is said to have a score of 89.6. This is a relatively decent number. The main consideration when calculating the cost of living is the cost of housing. While this is good to know it is also important for you to consider all aspects of the state and which would affect you the most. If you’re not planning on being home often and would be working in an office or out and about then the utilities or electric costs might not be a huge factor for you.
District of Columbia
While some don’t consider DC a state, it is considered one of the best places to work. It has one of the highest minimum wages which is $14. It also has lots of benefits in place for workers. Some of these include things such as it being illegal to pay women or a person of color a different price then anyone else for the same job.
They have family and sick paid leave, the businesses have to notify them when their schedule changes, and they provide employees with sexual harassment protections. It also has accommodations in place for pregnant employees. They require businesses to provide special places for breastfeeding mothers to go to pump milk. This is super unique and shows how much they care for their workers in the state. This is why DC is a great place to work.