Iowa

Iowa is one of the most inexpensive states in the country, and that comes together with the fact that it’s also one of the safest.

Iowa's overall cost of living is around 90% of the national average, and housing is about 75% of the national average.

There’s a lot of natural beauty in Iowa, so outdoor activities are abundant.

Indiana

Indiana’s flat state income tax is just 3.23%. Workers’ average commute time in the state is less than 24 minutes, so you might not be spending as much time behind the wheel, and you can spend more time with family or doing things you love.

Indiana is often named one of the most affordable states you can live in, and there are property tax caps as well as a healthy, competitive environment for businesses.

You have options as far as whether to live in a smaller or a bigger city in Indiana, and the crime rate is relatively low.

Tennessee

During the pandemic, a growing number of people started to move to the Volunteer State. There’s no state income tax, which can be a big perk in and of itself. Housing costs tend to be significantly lower than national averages, and the weather is relatively mild year-round.

Tennessee is also home to the Great Smoky Mountains National Park and a lot of natural beauty, lending to opportunities to enjoy nature and being outdoors.

In 2021, Tennessee was ranked as the sixth-most affordable state.

Tennessee ranks well below the national average in every significant indicator used to assess the cost of living in various states.

Tennessee is business friendly too. CNBC conducted a study in 2021 and found that Tennessee was the fifth-best state for doing business in the U.S.; in 2022, it was sixth in the country.

South Dakota

South Dakota is consistently named one of the top 10 cheapest states in the country, and it’s one of the eight states that doesn’t have a personal property tax.

You can also visit places like Badlands National Park and Black Hills during your free time, and South Dakota is considered highly business-friendly.

South Dakota is one of the fastest-growing states in the country, but it remains sparsely populated with minimal overall population density in most places.

The crime is low, and there’s a small-town feel to most of the state that you might appreciate.

North Carolina

Finally, North Carolina has a mild year-round climate, mountains and coastal areas, and a strong job market. North Carolina has a lot of transplants, especially Millennials.

Some major cities attracting people to the state include Greensboro, Raleigh, Charlotte, and Winston-Salem.

The cost of living is affordable, with relatively low housing prices and rent. If you move outside the larger cities, you’ll get even more bang for your buck.

Higher education is also excellent in North Carolina if you have kids and want in-state tuition at places like the University of North Carolina at Chapel Hill.