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)
- Hawaii, 67.4%
- District of Columbia, 49.2%
- New York, 35.2%
- California, 34.8%
- Massachusetts, 34.7%
Top 5 States With the Lowest Cost of Living(Percentage Below National Average)
- Mississippi, 14%
- Indiana, 12.1%
- Michigan, 11.8%
- Arkansas, 11.5%
- Oklahoma, 11.4%
- 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?