5 Cheapest Places to Live in the US

By Mia R. • Jun 25, 2024

Niche.com combs through dozens of datasets from both federal and local governments and combines the findings with proprietary data to compile their annual Best Places to Live Rankings. The 2024 results are in, and we are exploring the places with the lowest cost of living in 2024. All five are small towns with less than 5,000 residents. Would you consider moving to one of these towns?

5. Banner Hill, TN

First, we are headed to far east Tennessee. The small town of Banner Hill is nestled among the Appalachian Mountains right on the border of North Carolina. Banner Hill has a population of 1,571, with above-average schools. Residents of Banner Hill tend to be conservative. The median home price in Banner Hill is $116,500. Niche gives Banner Hill an overall grade of B-. 5 Cheapest Places to Live in the US-1

4. Seth Ward, TX

Seth Ward, TX takes the No. 4 spot. Seth Ward is an unincorporated community just north of the panhandle town of Plainview. The town was named after a music college of the same name founded by a Methodist bishop. The school burned down in 1916 and was never rebuilt. Seth Ward has a population of 1,921. Most of the residents of Seth Ward own their homes and have moderate political views. The median home price in Seth Ward is $47,300. Seth Ward's overall Niche grade is a solid B. 5 Cheapest Places to Live in the US-2

3. El Cenizo, TX

Next, we are heading down to the U.S.-Mexico Border for the small town of El Cenizo, TX, located about 16 miles south of Laredo. El Cenizo was originally founded in the 1950s as one of the hundreds of "colonias" along the Texas border – unincorporated communities housing migrant workers that lacked basic infrastructure and necessities. Today, El Cenizo has a population of 2,226 and most residents have liberal politics. The schools in El Cenizo are above average and the median home price is $57,100. Overall Niche grades El Cenizo with a C. 5 Cheapest Places to Live in the US-3

2. Chattahoochee, FL

For the No. 2 spot, we head back east. Chattahoochee is situated on the Florida-Georgia border and along the confluence of the Flint and Chattahoochee rivers. This location made it an important part of indigenous trade networks. The population of Chattahoochee is 2,975 and the residents tend to be liberal. The median home price is $73,900. Chattahoochee gets a B from Niche for its overall grade putting it up there with Banner Hill and Seth Ward. 5 Cheapest Places to Live in the US-4

1. Heidelberg, TX

And in the No. 1 spot is the small Texas town of Heidelberg. Heidelberg was founded by a German immigrant in 1921 who hoped to attract other German families to the area. However, the plan failed and quickly the town became a home for migrant farm workers. Heidelberg is the smallest community on the list with a population of 1,703. Most residents of Heidelberg tend to be liberal. The median home price is $58,700. Heidelberg's overall Niche grade is a C+. 5 cheapest places to live in the US-5

There you go. These are the five cheapest places to live in the U.S. for 2024. None receive an overall grade higher than B from Niche, but low cost of living must come at some cost. So, are you planning to move to one of these locations anytime soon?

References: 2024 Places with the Lowest Cost of Living in America | Heidelberg, TX | Seth Ward, TX | History: Florida's City on a Hill | Overcoming challenges in El Cenizo