Living in various parts of the United States has different perks. Those who love the snowy winter wonderland would appreciate the weather in the northern states, while beach buddies would love the south’s warmth. Aside from the different weather, people would also enjoy different cuisines from various states. Those in the Central US usually enjoy deep-dish pizza, while those in the northeastern regions love their pizza thin and crispy.
But apart from these differences, Americans also based their decisions when relocating to a different part of the country on the cost of living by state. Some states are more expensive compared to others. Here are the costlier areas in the US in 2021, based on the state’s standard of living considering the basic household living expenses like housing, food, healthcare, and taxes.
States With The Highest Cost Of Living
Among all the states in the US, Hawaii placed on the top of the ranks. The state has a 196.3 cost of living index, which means living in the Aloha State costs 96.3% higher than the country’s average. The state’s housing index is also at 336.3, with a median home value of $660,000. To live comfortably in Hawaii, residents must earn $61,000 on average.
The second most expensive place to live in the US is the District of Columbia. The state has a 161.1 cost of living index. Residents can rent a two-bedroom apartment for an average of $2,776 each month. Rounding up the top five most expensive states are California, with a 138.5 cost of living index, Oregon with a 134.6 cost of living index, and New York with a 133.7 cost of living index.
States With The Lowest Average Cost Of Living
Among all the states in the US, Mississippi is considered the most affordable place to live in the country. It only has an 84.8 cost of living index. The Magnolia State’s housing index is also the lowest in the nation, with Mississippi’s average home price recorded at $128,000. Locals can live comfortably in the city with an average wage of $46,000.
Another affordable state of living in the US is Oklahoma. It has a cost of living index marked at 86.8. Residents can also rent a two-bedroom apartment for only $879 per month, which means people can live in the state without worrying about their expenses if they earn at least $47,000 monthly. Americans can also choose to live in Arkansas, Kansas, and Missouri if they want to save up on costs compared to other states in the country.
These are two different sets of US states at the different end of the cost of living spectrum. Aside from the price of real estate in the state, the residents must also consider the average expenses for groceries, utilities, and transportation if they want to live in a particular place in the US. It will help them find the best spot for relocation.