New Research Reveals Georgia has the 5th Lowest Cost of Living in the US
Tuesday, October 18th, 2022
The research, undertaken by Lensa, looked at data from World Population Review and the United States Census Bureau to determine which state had the lowest cost of living in 2022 and the lowest labour costs from the years 2016-2020.
For all the information, please visit: https://lensa.com/insights/
Top 10 states with the lowest cost of living:
|
Rank |
State |
Cost of living index score |
|
1 |
Mississippi |
83.3 |
|
2 |
Kansas |
86.5 |
|
3 |
Oklahoma |
87.9 |
|
4 |
Alabama |
87.9 |
|
5 |
Georgia |
88.8 |
|
6 |
Tennessee |
89.0 |
|
7 |
Missouri |
89.8 |
|
8 |
Iowa |
89.9 |
|
9 |
West Virginia |
90.5 |
|
10 |
Indiana |
90.6 |
Mississippi has the lowest cost of living index in all of the states, at 83.3, making it one of the most cost-effective states for startups.
Top 10 states with the lowest labour costs:
|
Rank |
State |
Labour costs |
|
1 |
Mississippi |
$25,444 |
|
2 |
West Virginia |
$27,346 |
|
3 |
Arkansas |
$27,724 |
|
4 |
New Mexico |
$27,945 |
|
5 |
Alabama |
$28,934 |
|
6 |
Kentucky |
$29,123 |
|
7 |
Idaho |
$29,494 |
|
8 |
Louisiana |
$29,522 |
|
9 |
Oklahoma |
$29,873 |
|
10 |
Indiana |
$30,693 |
Mississippi has the lowest labor costs of all the states, with the average income at $25.444.
Further Insights:
-
Florida has an active and dynamic new business climate, with 632,105 new business applications in 2021.
-
Massachusetts has the highest business survival rate with a score of 9.34%.
-
Massachusetts's biggest college-educated population, with 44.5% of adults aged over 25.
-
Texas saw 492,243 new business applications in the last year, beaten only by California and Florida.
-
North Dakota received one of the lowest number of new business applications in the last year (just 7,984), making it one of the worst states for entrepreneurs.
View the full research by clicking here.
