LIST* STATES WITH THE HIGHEST (AND LOWEST) COST OF LIVING

It’s no secret that it costs a lot more to live in some parts of the country than others. I mean you could probably rent an entire house in certain areas for the cost of what a studio in Manhattan goes for these days. But did you ever wonder which states have it the worst? 

Well, a new report examined the cost of living in all U.S. states to determine who’s paying the most, looking at six critical elements - housing, groceries, utilities, transportation, healthcare and miscellaneous expenses.

Overall, Hawaii ranks the worst with a cost of living index 64.7% above the national average, while Mississippi has the least, at 14% below the national average. When it comes to housing specifically, folks in Washington, DC have it the worst with costs 134% above the national average, while again, Mississippi is shelling out the least, at 31.6% below the national average. 

And with everyone talking about healthcare these days it may be interesting to note that folks in Alaska shell out the most for healthcare at 46.6% more than the rest of the country, with Alabama the lowest at 12.5% below.

Top 5 States With the Highest Cost of Living(Percentage Above National Average) 

  1. Hawaii, 67.4%
  2. District of Columbia, 49.2%
  3. New York, 35.2%
  4. California, 34.8%
  5. Massachusetts, 34.7% 

Top 5 States With the Lowest Cost of Living(Percentage Below National Average)

  1. Mississippi, 14%
  2. Indiana, 12.1%
  3. Michigan, 11.8%
  4. Arkansas, 11.5%
  5. Oklahoma, 11.4%

Source: GoBankingRates

Scott's Thoughts…

  • Well, living in paradise doesn’t come cheap…
  • Do you live in an area with a high cost of living? What costs you the most each month? Do you think it’s worth the cost that you spend?
  • Do you think you’d be willing to move somewhere just because of the low cost of living? Why or why not?
  • If you live somewhere with a high cost of living, what benefits outweigh all those expenses?
Scott Stevens

Scott Stevens

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