These days, finding space with affordable rent is no small task. In February 2024 alone, the average rent across the country jumped by 2.5%. Amid these skyrocketing prices, there’s no denying that some states are generally kinder to your wallet than others. But in 2024, which countries are the most affordable? To find out, USA Today put together a report on the most affordable states, examining the overall cost of living by analyzing median incomes and major expenses like health care and income taxes and seeing how much revenue is left over.
The most affordable US state overall is Utah, in which living expenses make up 63.3% of the average income of residents. Coming in second place is Tennessee, in which living expenses make up 63.7% of the average income. In the meantime, Arizona is in third place, with living expenses accounting for 64.1% of average income.
Here are the 10 most affordable US states (and their total cost of living and cost as a percentage of income) in 2024:
Of course, you can’t pinpoint the most affordable states without indicating which states come with a higher price tag. New York it is at the top of the list of the most expensive countries as a whole, where the cost of living makes up 78.7% of the average income. That’s not surprising given that New York is one of the most expensive cities in the world, ranking sixth in Mercer’s report on the world’s most expensive cities.
Here are the 10 least affordable US states (and their total cost of living and cost as a percentage of income) in 2024:
You can view the full USA Today report here.