The most—and least—expensive U.S. states based on average monthly costs

by Celia Fernandez, CNBC, August 11, 2024 (excerpt)

Last month, bill pay service doxo released its 2024 Cost of Bills Index, which breaks down comparative household costs across the country.

The report focused on the ten most common household bill categories:

Utilities
Cable and phone
Mobile phone
Auto loans
Auto insurance
Life insurance
Health insurance
Alarm and security
Rent
Mortgage

To determine the ranking, doxo used the number 100 to represent the national average in the index. Then, states were assigned a number either above or below 100 based on how they compared to the national average.

doxo's 2024 U.S. Household Bill Pay Report found that the average U.S. household spends $2,126 a month — $25,513 annually — on the ten most essential bills.

No. 1 most expensive U.S. state based on monthly costs: Hawaii

Hawaii is still the most expensive state based on the cost of monthly household bills. It took the top spot on last year's list as well. Residents spend $3,091 each month — 45% above the national average.

The doxo report found that the average monthly bill for a mortgage in Hawaii is $2,576, while the average rent is $1,983.

In CNBC's 2024 America's Top States for Business study, Hawaii tied with Massachusetts as one of the most expensive states to live in. The average home price in Honolulu is $1,674,195 and the monthly energy bill is $359.53, according to CNBC.

Only one in five households in the state can afford to buy a single-family home, according to a report in May from the University of Hawaii. 

The report stated that the 2023 Maui wildfires and higher interest rates have made the housing situation in the Aloha state even worse….

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