Clocking in as the number one cheapest state is Kentucky, according to data compiled by the Missouri Economic Research and Information Center. According to informational website City Rating (cityrating.com), the average annual salary in Kentucky is $27,562. The 2010 Census states that Kentucky has a population of 4,339,367 people, making it the 26th most populous state in the nation.
Bordering Kentucky to the south is Tennessee, the state with the second cheapest cost of living. Tennessee is considered a southeastern state, according to the 2010 Census, and has a population of 6,346,105 people. According to City Rating the average annual salary in Tennessee is $28,413. Popular employment sectors in the state include manufacturing, agriculture and music.
Oklahoma is a southern state located directly north of Texas. Oklahoma has a population of 3,751,351, according to the 2010 Census (census.gov), and is a producer of oil, natural gas and agriculture. The 2010 Census states that about 60 percent of the state's population lives in the cities of Tulsa and Oklahoma City. According to the Oklahoma Department of Commerce (okcommerce.gov), "Business Facilities" magazine ranked Tulsa number one in the U.S. for cost of living and number two for qualify of life, while "U.S. News and World Report" ranked Oklahoma City among its Best Cities for Job-Seeking Retirees.
Rounding out the top four cheapest states to live in is Arkansas, a southern state that includes the Ozark Mountains and an eastern border formed mostly by the Mississippi River. According to the 2010 Census, Arkansas has a population of 2,926,229, with a population of 193,524 in the capital of Little Rock, making it the largest city in the state. Popular industries in Arkansas include agriculture, healthcare and manufacturing. The Metro Little Rock Alliance (metrolittlerockalliance.com) states that the capital of Little Rock boasts a high quality of life and a low cost of living.
