Top Most Affordable Places to Live In the US For Students

Do you feel the US is a study destination for the creme de la creme? Or you might think you will have to burn a lot of cash in exchange for settling in the land of the "free". Well, to your surprise, this isn't a reality; there are many of the cheapest and most affordable places to live in the US. All of which are suitable for students in terms of top-notch education, low tuition fees, opportunities, and lower bills. Sounds very utopian? Read further to check out yourself cheapest places to live in the US:

Factors That Influence The Cost of Living In the US  

Before delving into the nitty-gritty of the most affordable places to live in the US, let's understand what determines the cost of living. Multiple factors influence the cost of living in the US; some of the important ones include:

1. Population 

Population is a non-negotiable & key factor to be considered when determining the most affordable places to live in the US. A higher population indicates better infrastructure like transportation facilities, educational institutes, utilities, social, & housing. The best-case examples are California, New York, Hawaii, Massachusetts, etc., which aren't the cheapest states to live in the US. A rise in overpopulation generally paves the path to a higher cost of living compared to underpopulated or growing population areas that need less allocation of resources.

2. Inflation

Inflation is the catalyst to a higher cost of living; Generally, regions that batter with inflation have shown a correlation with inflation. According to the US Bureau of Labour Statistics, "Unlike other countries, the trend of Inflation in the US isn't widespread but varies from region to region". This inflation disparity is usually the cause of vast differences in regional economic conditions, housing markets, tax rates, minimum wage laws, energy prices, spending habits, strong ties with international trade and many more. 

To illustrate this fact in much greater detail, Let us compare one of the most expensive places to live in the US, i.e. California, with one of the cheapest places to live in the US, i.e. Mississippi. 

a. Housing markets 

In terms of housing, California has the upper hand as the housing market is very competitive & with a limited supply; inflation has skyrocketed the prices compared to Mississippi, which has less to no competition & a turtle speed growing price growth. Shockingly, in California, rental prices are 101% higher than in Mississippi, making it the cheapest state to live in the US.

b. Tax Rates   

California is one of the highest taxed states in the US, is 7.25%, as compared to Mississippi, which stands at 7% 

c. Energy Prices 

California has a much larger population to cater to than Mississippi, due to which higher energy consumption may show drastic fluctuations in the energy price dynamics, impacting inflation differently. 

d. International Trade

With its powerhouse industries, strategic coast location, & ever-green economy, California plays a major role in International trade by exporting goods & creating job opportunities as compared to Mississippi. Any ups and downs in the exchange rate or changes in the global market conditions can affect these states differently. 

Now that we have the scale of determining the highest and lowest cost of living in the US, let's check out the most affordable places to live in the US.

Top 4 Cheapest Places To Live In The US

The US has a good amount of places that fall into the bracket of cheapest places to live in the US; As the country has a vast geography, we have sourced out the top 4 places that fit well into the criteria of top-notch education, low tuition fees, opportunities, and lower bills for students:

1. Utah

Cost of Living Index: 114.2 
Grocery: 93.2
Health: 102.7 
Housing: 157.3
Utilities: 94.6
Transportation: 91.2
Miscellaneous: 91

Utah is a state full of claims; right from having the "greatest snow in the world" and "having the most plastic surgeons" to hosting the first KFC store in the world, It wouldn't be surprising to behold the claim to be the cheapest state to live in the USA. As compared to most claims, this is a fact. Utah is one of the most affordable places to live in the US. Compared to its neighbours like Colorado & Arizona, Utah has a considerably low population & a lower cost of living. Some of the most affordable cities in the US are found in Utah, like Salt Lake City, Logan, Provo, & St. George. An average person spends around $ 2,206 or less monthly to live a comfortable life in this nature-adorned state. 

Let's Break it down: 

1. Student Accommodation

The rental space in Utah is like two sides of the same coin; it can be expensive or affordable. The average cost of living for a student paying rent in Utah can be around $946- $1,480, depending on your choice of accommodation, whether off-campus shared housing or off-campus apartments. Some initiatives like The University of Utah making a blueprint fail-proof plan of allocating 5000 student housing units by 2030, the state-funded Utah Housing Assistance Program that provides rental assistance, private-public partnerships, has cleared up the skies for any dark times regarding student housing.

2.Tuition Fees

Regarding tuition fees, Utah is ranked as one of the most affordable states for colleges. Even the top elite world-reputed universities like The University of Utah, Utah State University, & Westminster College have scholarships & funding opportunities to cover your tuition fees. The average tuition fee is $17,730 annually, two times less expensive than NYU.

3.Transportation & Grocery

Commuting & buying groceries is an indispensable part of being an adult & a student. By being one of the most affordable places to live in the US, a bag of monthly groceries is, on average, billed around $250 per month & a price of a monthly transit pass would be around $90.

4. Utility Cost

By living in Utah, you can expect to get an average rounded utility bill of around $271, which covers all your utility bills, including electricity, water, gas, WiFi, etc.

5.Average Income

As for projections, $48,243 is considered the average median salary of an Individual living in Utah, Although this figure varies and can go up to $61,233- $74,374 annually. Some of the highest-paid professions include financial analysts, nurse practitioners, economic consultants, nuclear engineers, network architects, etc.

2. Illinois

Cost of Living Index: 93.7 
Grocery: 94
Health: 96.9
Housing: 80.2
Utilities: 97.7
Transportation: 106.2
Miscellaneous: 107.8

Illinois is known to be the "land of prairies" and the heart of American diversity. With the history of Native Americans, fascinating plants & rich wildlife, the prairies have changed the landscape of the Midwest region. Another way that Illinois gets its recognition is by being one of the "cheapest states to live in the US". Like its neighbours Missouri Iowa, Indiana, Illinois is also one of the most affordable places to live in the US. Apart from this, many cities, like East St. Louis, Danville, Granite City, Rockford, etc., in Illinois make up the majority of affordable cities in the US. An average person living in the "Prairie" state budgets around $2,491 and less to avoid being in financial clutches, 

Let's Break it down: 

1. Student Accommodation

Illinois is known to have a very affordable housing market; by ranking as one of the cheapest states in the US to purchase a home, the rents for houses & student accommodations are sky-dropping low. Depending upon your location & choice of accommodation, an average studio would cost you around $948,  making it the cheapest place in the US to live.

2. Tuition Fees

With student debt being a looming cloud of worry for many students studying in the US, Illinois is one such state that is most affordable in the US for education. Some of the top colleges, like the University of Illinois, the University of Chicago, & Northwestern University, are known for their coveted reputation & financial aid. The average tuition fee is $19,723  per year.

3. Transportation & Grocery

Commuting and buying groceries are considered non-negotiable areas of your student life. Students can spend around $288 monthly on essential groceries like eggs, meat, vegetables, fruits, etc. As for transport, a monthly pass that costs around $80 should get you to your destination. 

4. Utility Cost

Your electricity, gas, water supply & WiFi bills can be estimated to be an average of $330 while living in Illinois. This is just a general average projection which can fluctuate based on your consumption.  

5. Average Income

The average income in Illinois is a little higher, which accounts for $75,006 annually. Some of Illinois's handsomely paid or highest-paid jobs belong to the healthcare, IT, Business administration, Engineering, and Law fields. 

3. Florida 

Cost of Living Index: 103.1
Grocery: 102.8
Health: 102.3
Housing: 101.1
Utilities: 101.3
Transportation: 112.6
Miscellaneous: 87.6

Saving money and tanning faster has become the norm in this exclusive summer paradise of the US. With the hot sun blazing 24/7, achieving a golden tan & saving money is easier than you think. Like its next-door neighbors Georgia & Alabama, Florida is also one of the most affordable places to live in the US. Compared to the other states, the state's low taxes, no state income tax, and lower cost of living contribute to its wallet-friendly reputation. Some of the major cities, like Jacksonville, Orlando, and Daytona Beach, are some of the most affordable cities in the US. A person living in Florida can expect around an average of $2454 as their monthly household budget, which comfortably covers rent & all the other essentials.

Let's Break it down: 

1. Student Accommodation

Florida has an affordable approach to student apartments, shared accommodation, & duplexes. While keeping your location, choice of accommodation, amenities, & preferences, you can hunt for studios at an average cost of $782.

2. Tuition Fees

Florida College System Institutions have kept college affordable for students while keeping low tuition fees. The Florida College System Institutions have kept their tuition fee the same for the past five years while most colleges are implementing different strategies to contribute to growth, improving efficiency, & enhancing affordability. Many coveted colleges, like the University of Florida, Florida State University, etc., belong to this federation. The average tuition fee in most Floridian institutions is $12,914  per year, one of the cheapest in the US.

3. Transportation & Grocery

Stocking up your fridge & catching a bus or a train is a routine cycle for many students. While living in Florida, students spend an average of $568 on groceries. You have options for bulk buying and availing of special coupon services. Students shell out an average of $68 for travel on buses, trolleys, and taxis. 

4. Utility Cost

Compared to the national average, Florida has a 1% higher expense on its utility bills. On average, you can get a rounded bill of around $411 per month, including gas, electricity, internet and water. 

5. Average Income

The average income you can draw by working in Florida is around $60,100. Most companies accelerating Florida's growth are biotech, pharmaceutical, construction, real estate, etc. In conclusion, Florida is one of the most affordable places to live in the US. To know more about the cheapest state to live in the US, you can check out our blog, Cost of Living in Florida  

Apart from having the highest number of most affordable places to live in the US, the country is also known for having a stellar college reputation. Check out out blog oldest colleges in the US to know more about the legacy. 

4. Texas 

Cost of Living Index: 94.2
Grocery: 93.7
Health: 100
Housing: 83.5
Utilities: 99.2
Transportation: 103.3
Miscellaneous: 83.2

It isn't surprising that Texas is one of the most affordable places to live in the US; Similar to Florida, Texas does not have any state income tax; it also has lower business tax, a thriving gas & oil industry, & lots of vacant land that makes it one of the cheapest places to live in the US. But hold your reins because this isn't solely the reason for moving to Texas. The Cowboy culture, well-known southern hospitality, & Tex-Mex cuisine also contribute to the reason. Many cities in Texas, like El Paso, Houston, San Antonio, Brownsville, and Cedar Park, are best for their affordable lifestyle options. A person in Texas calculates their expenses on an average of $2,011 monthly, making it the cheapest place to live in America. 

Let's Break it down: 

1. Student Accommodation

Student housing in Texas can vary greatly on your choice and preference of housing & location. For instance, living in a student-centric city like Dallas could be around $1,045 per month compared to Houston, which comes under a much cheaper range, i.e. $650 per month.

2.Tuition Fees

Compared to the other states, Texas has low undergraduate fees making it a pocket-friendly location for pursuing higher education. The average tuition fee at a Texas university is $16,780 per year, which can also tend to be higher in some universities. Universities in Texas are also taking big initiatives to reduce the financial tension for students in Texas. Some universities like Texas Woman's University are creating opportunities like zero tuition programs as financial aid for low-income students. Even other universities that offer free tuition are big names like the University of Houston, Rice University, the University of Texas, Texas Tech University, etc. The state also has some laws intact, like the "Texas tuition deregulation law", where the Legislature mandates deregulation of tuition, allowing universities to set their tuition rates while taking out some deregulation tuition revenue as financial aid. 

3. Transportation & Grocery

Transportation & Grocery are crucial expenses to consider while studying in Texas. A student spends around $527 on food and $100 on transportation.

4. Utility Cost

Bills like electricity, WiFi, water, & gas would amount, on average, to an estimated $402 per month. 

5. Average Income

The average income can bring you around $73,069 annually. The top-paid professionals in Texas hail from medical backgrounds like general practitioners, psychiatrists, gynaecologists, dentists, and oral surgeons. Others include pilots, petroleum engineers, etc.

‍Other Cheapest Places To Live In The US

Apart from the above top mentions of the cheapest place to live in America, many more states allow the luxury of living in comfort, high-quality life, convenience, etc., without compromising your budget. Some other states like Mississippi, Indiana, Missouri, Oklahoma, and Kansas also fall under the category of most affordable places to live in the US. Here is a table to give you a comprehensive view of the cost of living in these states: 

In conclusion, even though the US is seen as a million dollar dream, i.e. you will have to make a million dollars to set your foot on American soil, this isn't the actuality. Many affordable cities in the US offer you the joy of quality life, the best education, and the pool of opportunities while cradling you in your sound financial safety blanket. It isn't always all that New York or Los Angeles shines gold! Look beyond them! Make sure you checkout our blog on most affordable universities in the USA.