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Americans face a dilemma. The consumer price index rose 7% in December, and while wages have risen recently, they have not, for the most part, kept up with inflation. The median household income in the U.S. dropped 2.9% in 2020 to $67,521, in fact. Even as inflation increases the cost of living nationwide, the cost of living is not uniform between states. The state with the lowest cost of living is Mississippi.

(These are the best places to live on a budget of $30k

.)