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The difference in housing costs from state to state is especially important. The Bureau of Economic Analysis has calculated that the regional price parity of U.S. states ranges from 84.4 in Mississippi (the cheapest state in which to live) to Hawaii at 119.3 (the most expensive state).
Rounding out the top five least expensive states to live are Oklahoma, Alabama, Kansas and Arkansas, all requiring less than $47,500 to earn a living wage. Mississippi Oklahoma
Alaska. Household median income: $86,370 Household mean income: $110,602 Rent average cost in April 2024: $1,411 Average expenditure cost: $2,676 Total cost of living: $4,087 Read More: The 50 ...
The ranking is based on a price index that is calculated using the cost of food, housing, transportation, utilities and other factors in all 50 states and Washington, D.C.
U.S. states and D.C. by median home price, February 2024 (in February 2024 dollars) [1] State rank State or territory Median home price in US$ 1 Hawaii: $839,013 2 California: $765,197 — District of Columbia: $610,548 3 Massachusetts: $596,410 4 Washington: $575,894 5 Colorado: $539,151 6 Utah: $509,433 7 New Jersey: $503,432 8 Oregon: $487,244 9
Alaska. Living Wage: $97,546 Life in the last frontier state comes at a cost, with housing, groceries, utilities, healthcare and transportation in Alaska all fairly expensive.
Arkansas. Annual Living Wage: $53,067 Arkansas is one of the top two states where your dollar will stretch far with a cost of living that’s more than 10% under the national average.
GOBankingRates found that the average monthly cost of living in the United States in the first quarter of 2024 was $2,005 — $1,860 for retired people, $2,730 for married couples with kids and ...