Indianapolis If you've been thinking of moving, you may want to reconsider. Data released by USA Today shows Hoosiers pay some of the lowest living expenses in the country. The states were ranked using indexes from Missouri’s Economic Research and Information Center. Indiana ranks number 5, thanks to low modest home values, property taxes and rental rates. Lower grocery and utility costs also played a role. Oklahoma, Kentucky, Tennessee rank higher than the Hoosier State. Mississippi is at the number one spot. Michigan is ranked 17th.