These Are the Cheapest States to Live in the US

With military installations, agriculture, and manufacturing providing job opportunities, Indiana offers a great quality of life to its residents. It's one of the cheapest states to live in the US and a fun, attractive place to live. As well as this, it's also attracting plenty of young people including those who graduate from Indiana University and don't want to leave. Indiana is a high-ranking state in which to do business and home to numerous companies who are also huge employers that will make you ask, "Silicon Valley who?" Living in Indiana will give you more bang for your buck with a median salary of $49,255 and a median home price of just $124,200.

Of all of the reasons to move to South Carolina, the low cost of living, which is almost 13% lower than the national average, might just be the last. Almost everyone that enters the Palmetto State falls in love with it to some degree. Its bigger cities such as Columbia and Charleston are entertainment an arts hubs that still have the space to sit back and to watch. There are silky-white beaches, charming towns, and gorgeous weather. South Carolina is the best of small-town America while also being a hub for manufacturing companies.

Ohio is understated and misunderstood. It's actually one of the best states to start up a new business. Offering residents a low cost of living and many manufacturing opportunities when it comes to employment. Midwesterners are also as charming and courteous as Southerners; it's just not nearly as talked about. When you're looking for a place where everybody knows your name, where you can chat to others in the grocery store, the Buckeye State is right there waiting with a median home price of just $129,900.

Kentucky is a state of refined culture, vast rural farmland, and a robust economy that generated 165 billion in 2011 and has only grown. As well as being one of the cheapest states to live in the U.S., Kentucky is also a center of innovation with yearly job growth. The Bluegrass State has some of the most beautiful national parks such as Mammoth Cave and Red River Gorge. With so many job opportunities and a median home price of $123,200, Kentucky might just be the perfect place for a new home.

Alabama is a state for those who enjoy warmth both in climates and in fellow residents. The Yellowhammer State has four national forests, inland waterways, and massive economic sectors in which to work. Although it's no Silicon Valley, it also doesn't have to be. Alabama is home to some of the top companies in aerospace, banking, and education. Huntsville and Birmingham are both investing a lot in technology, providing a more affordable place to live than San Francisco. Huntsville alone is a startup hub and one of the fastest growing cities for jobs in tech. With a median home price of just $125,500, you can't argue.

Hearing South Dakota probably conjures up visions of cowboys; of ghost towns and wild horses, and that isn't far off. However, South Dakota also provides a thriving and growing economy for its residents. South Dakota is a state that's full of agriculture and history. It's also one of the best states to live in when it comes to the worst day of the year: Tax Day. If you're looking for a great quality of life for a low cost of living, Rapid City and it's Black Hills view might just be the best place for you.

Thanks to Memphis and Nashville, Tennessee is one of the cultural capitals of the United States. However, it's also one of the cheapest states to live. As well as being full of culture, there are ample work opportunities with eight Fortune 500 companies that call the Volunteer State home. Tennessee is also a healthcare hub and an automotive hub, with 300 health-related companies and 900 automotive factories which provide thousands of jobs to Tennesseans. With a median salary of $45,219 and a median home price of $142,100, Tennessee is a fantastic state to live in.

It's a state that gets a bad rep, but that rep is completely unfounded. West Virginia is nicknamed The Mountain State, and one look at its rolling Appalachian hills will tell you exactly why. As well as being one of the cheapest states to live in the US, West Virginia is full of beautiful landscape and charming towns. John Denver was right about West Virginia, too; there are also country roads. The median salary in West Virginia is $41,751 and, with a home price of $103,800, you could own your own home within five years.

Arkansas lies to the northwest of the Mississippi River, but its charm is that of its own. It also truly lives up to its nickname, which is "The Natural State." If you value low-cost outdoor adventure, beautiful landscapes, and ample opportunities such as camping, hiking, and fishing, it's hard to beat this Southern gem. Furthermore, the University of Arkansas, which is based in one of the state's biggest cities, Fayetteville, has also been recognized as a top 10 college town. With a median home price of $111,400 and a median salary of $41,371, Arkansas offers its residents a high quality of life for a very low cost of living.

1. Mississippi

Mississippi is one of the cheapest states to live in the US. With a median salary of $39,665 and a median home price of $103,100, it's an affordable state full of diverse and bustling cities. A conglomerate of Southern charm, ample history, and the Mississippi River to the west, the Magnolia State is all-too-often overlooked. Mississippi is also a state custom made for nature-lovers, with everything from vast forests to swamps to beaches on the Gulf Coast.