Are you selling a house or looking to buy a house? Either way, you should know the cost of living where you live.

The cost of living is defined as the cost of maintaining a certain standard of living. This figure can fluctuate from time to time depending on the economy.

These figures are calculated and used to compare the cost of maintaining that standard of living in a specified area. Population and economic growth are two big factors that can affect the cost of living.

Some research suggests that lower costs of living can be found in the south, versus the northern portion of the United States.

In fact, a recent poll names Mississippi as the state with the lowest cost of living in the country.

How does this compare where you live?

Click here for a cost of living calculator.