What Are The Cheapest States To Live In 2024 Ranked. Alabama is currently the #1 cheapest state to live in for 2024 with an average home value of $216,564, cheapest homes rank of #10/50, overall affordability rank of #1/50, and total tax burden rank of #12/50. News & world report ranked the cheapest places to live based on what matters most so you can make informed decisions.

The west and the northeast regions include the most expensive states to live in, while the south includes the most states ranking among the bottom 10 for cost of living. Here are the top 10 cheapest states to live in the united states in 2024: