When it comes to affordability for families, according to GOBankingRates Tennessee comes out on top due to its low costs for the biggest budget items.
GOBankingRates surveyed costs of parenting and family living as well as median income in all 50 states to generate this ranking. GOBankingRates scored each state for the following five factors: (1) median income, (2) state family leave policies, (3) food costs, (4) housing costs and (5) child care costs. Each category was weighted equally and used to generate a family affordability score for each state.
GOBankingRates surveyed the costs and factors that affect family finances in all 50 states. Here is the full ranking of the best and worst states for families on a budget, with the No. 1 cheapest state listed first and the most expensive state listed last at No. 50.
If you are thinking of relocating to Tennessee also remember Tennessee Promise will provide two years of tuition-free attendance at a community or technical college in Tennessee for graduating seniors.