Inflation remained at 3.1% annually in January, according to the Bureau of Labor Statistics. The Composite Cost of Living Index for the first quarter of 2025 from the Missouri Economic Research and Information Center uses relative costs of groceries, housing, utilities, transportation, and health care to rank states. Oklahoma registered the lowest overall cost of living index at 85.5, 14.5% below the national average, driven largely by a housing cost index of 70.5, the second lowest nationwide. Among the ten states with the lowest cost of living, four are in the South and six are in the Midwest. Among the ten states with the highest cost of living, seven are on the East Coast, two on the West Coast, and Hawaii. The Composite Cost of Living Index was updated on August 21, 2025.
The state with the lowest cost of living is Oklahoma, with an overall cost of living index at 85.5, meaning that the cost of living in the state is 14.5% cheaper than it is on average nationwide. This figure is driven largely by the state's very low cost of housing - with a housing cost index value at 70.5, the second lowest in America.
For a while, it seemed that inflationary pressures may be easing, but recent reports suggest otherwise. Inflation remains stubbornly high, with the consumer price index rising by 3.1% annually in January, according to the Bureau of Labor Statistics. With sticky inflation in mind, it is interesting to see where the cost of living is cheap enough that it could offer some relief.
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