Are you thinking of moving to another state to live on the Cheap? Here is a list that I have compiled over the years while looking for a place to call our “domicile” in our retirement years. I want my retirement dollars to stretch!! I personally want to stay in the Western side of the US so I have listed the states that I’m interested in. Yeah, I may have to move to “snow country” but, I plan on following the sun when the snow starts to stack! There are very cheap states on the Eastern side of the Mississippi, but I’m not interested in moving that far. However, if you are interested in any other state, you can use my template to get a good snapshot of the costs, etc.
NOTE: California is listed first because this is the state in which I currently live. It’s VERY expensive, hence my reason for this research and eventual escape!
If you currently live in any of these states and you think my numbers need to be corrected, PLEASE let me know! I want to be as accurate! This data was compiled from my internet research. Vehicle registration costs were hard to figure out in some states.
UPDATED May 2017
Sales Tax 7.500% - 10.00% Property Tax .74% (median) LA County 1.16% Sacramento 0.949% State Income Tax Top 13.3% (the highest in the country) Vehicle Registration High VLF based on Value new, weight fees, taxes, CHP fee and local taxes. 200-500 per year average (This increased as of 2017) Median Property Values 425K State Population 39.5 million
Sales Tax 5.6% Property Tax 0.84% State Income Tax 2.59% to 4.54% Vehicle Registration Comparable to California Median Property Prices 260K (2017) State Population 7 million
Sales Tax 4%-6% Property Tax 1.46% (median) State Income Tax NONE Vehicle Reg 30-90 per year Median property Values 172K State Population 814,000 Weather in Hot Springs SD December – Feb the low is typically 15 degrees with a high in the mid 40s to low 50s. Summer months June-August are the hottest with highs in 90s lows in 50s Total snow fall is 34 inches a year with the average being 2 inches in winter months Dec-Feb. (I included the weather because when you mention the Dakotas, people immediately think BURIED IN SNOW-!!!!!
Sales Tax 4.6%-8.15% Property Tax .84% (median) State Income Tax NONE Vehicle Registration Comparable to California Median Property Values 235K State Population 2,919,056
Sales Tax 4%-6% (median) Property Tax .58% State Income Tax NONE Vehicle Registration Registration Calculator Median Property 199K State Population 582,513
Sales Tax NONE Property Tax .83% (median) State Income Tax Top Range 6.9% Vehicle Registration 0-4 years $217.00 5-10 years $87.00 11 years + $28.00 Median Property 195K State Population 989,415
Sales Tax 6%-8% Property Tax .69% (median) State Income Tax top Range 7.4% Vehicle Registration $35.00 to $60.00 per year Median Property 171K State Population 1,567,582
Sales Tax None Property Tax .87% (median) State Income Tax top Range 9.9% Vehicle Registration 86.00 two years Median Property 235K State Population 3,831,074
Sales Tax 4.7% Property Tax 0.6% (median) State Income Tax Flat Rate 5% Vehicle Registration Depends on weight, age, county. Median Property 214K State Population 2,763,885
Sales Tax 6.5% Municipalities can add up to 3.1% to that, with the average combined rate at 8.89% Property Tax .92% (median) State Income Tax None Vehicle Registration Varies by weight of vehicle: 0–4,000 lbs:$43.75 4,001–6,000 lbs: $53.75 6,001–8,000 lbs: $63.75 Median Property 254K State Population 6,724,540
Sales Tax 5.12% - 8.6% Property Tax .55% State Income Tax 4.9% Vehicle Registration $27.00 - $62.00 per year Median Property $335K State Population 2,059,179
Use this tool to compare all 50 states in regards to Taxes.
Some notes to consider:
****Median property values are state-wide numbers. Actual prices of homes could be lower or higher depending upon the city. This number just gives you an idea the comparison overall with each state.
****Median property taxes are state-wide numbers. Actual property taxes could be higher or lower depending upon county. However, lower property prices in a state with “higher” property taxes could even things out. A person who lives
in a state with “high” property taxes could actually be paying less property taxes than in California because of the low cost of the property.
This spread sheet does NOT cover other costs of living such as groceries, medical care (access), health insurance, fuel, utilities, etc. These are also things to consider when deciding on an overall cheaper place to live. When doing a Google search on the overall cost of living comparisons between states, I came up with different results.
NOTE: Some states such as South Dakota have a very low population therefore not needing a vast budget for infrastructure.