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The data has been collected by the World Bank's International Comparison Program since the 1970s and has been available for almost all World Bank member states and some other territories since 1990. The Global price level, as reported by the World Bank, is a way to compare the cost of living between different countries.
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).
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.
Visualisation of Numbeo's 2023 cost of living index by country. The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Changes in the cost of living over time can be measured in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a certain ...
The biggest reason why the cost of living in the Garden State is 13.9% higher than the national average is housing, which costs 35.8% more than in the country as a whole.
Hawaii was the state with the highest cost of living in the U.S. for 2023, according to research by the Missouri Economic Research and Information Center.Oklahoma had the lowest. How cost of ...
This is similar to nominal GDP per capita but adjusted for the cost of living in each country. In 2023, the estimated average GDP per capita (PPP) of all of the countries was Int$22,452. [a] For rankings regarding wealth, see list of countries by wealth per adult.
While the Euro has long been more valuable than the American dollar, the cost of living in the United States is significantly higher than across Europe on average. Basic expenses for a single ...