Mapped: The 10 U.S. States With the Highest Cost of Living

The New Diplomat
Writer

Ad

Ranked: U.S. Crude Oil Imports by Country

Key Takeaways In 2024, 61.7% of America’s crude oil imports were from Canada. Meanwhile, Mexico accounted for 7.1% of crude oil imports. Crude imports make up about 40% of the oil that is refined in America, much of which is heavier crude compared to America’s light oil. For decades, America was a net importer of…

Alleged N85 Billion Nigeria Air fraud: Ex-Minister Sirika Debunks Allegations

By Abiola Olawale The immediate-past Minister of Aviation, Hadi Sirika has spoken on the controversies surrounding the Nigeria Air project, a national carrier initiative that sparked widespread criticism. Speaking during an interview with Channels TV on Wednesday, Sirika dismissed claims of fraud and mismanagement. Sirika, during the interview rejected allegations of fraud, claiming that Nigeria…

Alphabet surges after court rejects DOJ’s call to break up Google in antitrust case

By Obinna Uballa Alphabet shares jumped 6% in premarket trading on Wednesday after a United States court rejected the Department of Justice’s (DOJ) push to break up Google in a high-stakes antitrust case. The DOJ had proposed divesting Google’s Chrome browser and imposing strict restrictions after the company was found last year to hold an…

Ad

Ever wondered where your dollar stretches the least in the U.S.?

States vary significantly when it comes to cost of living, which takes into account expected expenses for essentials like housing, food, and transportation.

In this graphic, we map out the top 10 U.S. states with the highest annual cost of living in 2024. The cost of living figures are based on data calculated by Forbes Advisor.

Calculating Cost of Living

To calculate the cost of living in each state, Forbes Advisor calculated annual expenses for housing, healthcare, taxes, food, and transportation.

Their data sources include C2ER, KFF, MIT Living Wage Calculator, and the U.S. Census Bureau. You can read more about their methodology here.

Hawaii is the State with the Highest Cost of Living

The sunny state of Hawaii is the most expensive state to live in, with an average annual cost of living of $55,491.

Rank State Total Yearly Cost of Living
1 Hawaii $55,491
2 Massachusetts $53,860
3 California $53,171
4 New York $49,623
5 New Jersey $49,511
6 Alaska $48,670
7 Maryland $48,235
8 Washington $47,231
9 Connecticut $46,912
10 Oregon $46,193
U.S. Average $40,466

Despite having the highest cost of living ($55,491), Hawaii also has the lowest annual average salary ($61,420) among these 10 states.

This leaves residents with an annual disposable income of $5,929–the lowest out of all 50 states.

Some factors that contribute to Hawaii’s high cost of living are its high housing costs due to housing shortages and high income taxes.

Coastal Life Isn’t Cheap

Life on either coast isn’t cheap, either.

All four West Coast states make the top 10 list, while Northeastern states like New York, Massachusetts, and New Jersey also make an appearance. New York City is consistently ranked as one of the most expensive cities in the world to live in.

About 40% of the U.S. population lives on the coast, but the coast only accounts for less than 10% of the country’s land mass.

Source: Visual Capitalist

Ad

X whatsapp