Arkansas lies to the northwest of the Mississippi River, but its charm is that of its own. It also truly lives up to its nickname, which is "The Natural State." If you value low-cost outdoor adventure, beautiful landscapes, and ample opportunities such as camping, hiking, and fishing, it's hard to beat this Southern gem. Furthermore, the University of Arkansas, which is based in one of the state's biggest cities, Fayetteville, has also been recognized as a top 10 college town. With a median home price of $111,400 and a median salary of $41,371, Arkansas offers its residents a high quality of life for a very low cost of living.