Here’s the Cost of Living in Every State
from GoBankingRates, May 24, 2024
The last few years have been more expensive for Americans than in decades due to severe inflation and ever-rising costs of living. People living on a tighter budget or a more frugal lifestyle may be looking to move to other, cheaper states.
Some states will let you spread your dollars more than others. Using data from the Missouri Economic Research and Information Center, and the Bureau of Labor Statistics, GOBankingRates determined the cost-of-living index in each state compared to the overall national average. The study included costs associated with six categories: housing, utilities, groceries, healthcare, transportation and miscellaneous expenses.
Here’s the cost of living in all 50 states, along with total annual expenditures for each….
Hawaii
Total annual expenditures: $131,560
Hawaii holds its position as the most expensive state to live in America by a long shot for many years in a row. This year, however, island residents can expect to pay an astronomical 80.3% more than the national average overall. Most of the pain can be traced to home purchases, which cost an astounding 313% more than average….
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