10 Most Expensive States To Live In (2024)

FAQs

10 Most Expensive States To Live In? ›

The ten most expensive states to live in are Hawaii, Massachusetts, California, New York, Alaska, Maryland, Oregon, Connecticut, New Hampshire, and Vermont. Hawaii is the most expensive state to live in, with a cost of living index of 184.

According to several studies on cost of living, Hawaii is the most expensive U.S. state to live in. Prices are typically double in Hawaii compared to those on the mainland, and the continued rise in inflation is making costs ranging from housing to health care much more expensive.

Hawaii is the most expensive state to live in, according to the Bureau of Labor Statistics' "2021 Consumer Expenditures Survey," the most recent data provided by the organization.

Regarding affordability, the report indicates that Connecticut, Massachusetts, and New Jersey are the most affordable states with Arizona, Nevada, and Florida being the least affordable.

1. Hawaii. Hawaii is known for its beautiful beaches, warm climate, and breathtaking scenery. However, it is also the most expensive state to buy a house, with a Zillow Home Value Index of $834,582.

All the cities on this graphic are classified as severely unaffordable⁠—and, for the 12th year in a row, Hong Kong takes the top spot as the world's most unaffordable housing market, with a score of 23.2.

What is the least affordable state to live in? ›

Texas is actually one of the more affordable states in the country. Compared to national averages, living expenses here tend to be cheaper — though how much cheaper varies based on where you choose to live in the state.

Which City Is More Affordable: Los Angeles or New York City? Both NYC and LA are among the most expensive cities in both the U.S. and the world. However, the average cost of living in LA is also 24-27% lower than that of NYC.

Inflation is so high because many consumers are spending more money than they usually do, and because supply chain issues and global fuel shortages have lingered since the pandemic. That high demand and low supply have led to an increase in prices.

While both states have a high cost of living, California is generally cheaper than Hawaii, particularly in terms of housing costs.

The state with the most expensive groceries in the US is Hawaii. This might not be surprising, given that Hawaii needs to import most of the foods you'd find in an American supermarket from a pretty long distance.

Is it expensive to live in Florida? Though the state has long had a reputation for being an inexpensive place to live, housing costs are high. Rents and sale prices are both well above national averages. However, the overall cost of living in the state is about on par with the national average.

Florida residents enjoy the 32nd-lowest cost of living in the United States, per MERIC data gathered in 2022.

“We realized no one had done a comprehensive quality-of-life comparison between states; other studies made comparisons across countries only.” Massachusetts and Minnesota were the two states with the highest living standards in the U.S., according to the study.

What state is the cheapest to love? ›

The most liberal state in the country is Massachusetts, where the equally progressive city of Boston is located. Next is Hawaii, followed by Rhode Island, California, New York, Vermont, Maryland, New Jersey, Connecticut, and Oregon.

In the three presidential elections since 2008, Indiana and North Carolina went back to supporting Republicans. Virginia has continued voting for the Democratic presidential nominees (as well as increasingly electing Democrats at the state level), leading to its being reclassified as a blue state in recent years.

Texas places four major metros in the top 15, while three New York metros are represented—including Rochester, which has the nation's highest property taxes at a 2.4% effective rate. The data used in this analysis is from the U.S. Census Bureau.

The most expensive city in the U.S. in terms of housing costs is San Jose, California. It combined the highest monthly housing costs in our study with the second-highest home values, but San Francisco wasn't far behind.

After Hong Kong, New Zealand and Australia were the least affordable countries overall in the study which looked at the U.S., Canada, the UK, Hong Kong, Singapore, Australia, New Zealand and Ireland. This chart shows the places where it's hardest to afford a home (2023).

New York City Housing Authority — 180,263 units- If you are interested in applying for housing programs, applying to work here or doing business click here- The New York Housing Authority is like no other PHA in the USA.

No state income tax in Florida, cheaper real estate and the weather are the top reasons broker Melissa Cantway said people are still moving here.

Is it really cheaper to live in Florida? ›

The cost of living in Florida is 1% higher than the national average. Housing is 4% higher than the national average, while utilities are 1% higher. When it comes to basic necessities such as food and clothing, groceries are around 2% lower than in the rest of the country, while clothing costs 2% lower.

With white sand beaches, popular attractions like Disney World and Universal Studios, and major corporation headquarters, there's plenty to love about living in the Sunshine State. But with median home prices around $305,266 and median monthly rent at about $1,800, finding an affordable home can be tough.

Singapore and New York City tied for the first rank amongst the world's most expensive cities in 2022, pushing Israel's Tel Aviv from the first place in 2021 to the third place in 2022. Both these cities had high inflation and a strong currency.

Monaco is the most expensive country to live in, with a cost of living of $3,585 per month. Other expensive countries to live in include the Cayman Islands, Switzerland, and Singapore, all of which have a cost of living of over $2,000 per month.

Warm and tax-friendly, living in Texas is a great idea. With many diverse cities and endless job opportunities, Texas is a popular destination for young professionals, families, and retirees. Compared to living in Florida, Texas is slightly cheaper and just as warm as the sunshine state.

Florida has a higher cost of living index than Texas across most categories. This is consistent with the fact that Floridians need a higher living wage to survive. Not only is Texas 8% cheaper than Florida overall, but housing, utilities and groceries all cost significantly less in the Lone Star State.

The bottom line is Florida is a far less expensive state to live in than California because it has less expensive homes, lower sales tax on things you buy, and lower income taxes on money you earn.

Finding a Financial Advisor in Florida

For example, Florida doesn't have a state income tax while California does. Florida residents only owe federal taxes on their income. On top of that, Florida housing prices are also cheaper than in California.

Is LA or NYC safer? ›

According to Numbeo, Los Angeles has a higher crime rate than New York, with a crime index of 52.52%. On the other hand, NY has a crime rate of 49.40%. That means you're a bit safer in NYC than in LA. Clearly, NYC isn't without its vices, so you have to practice safety measures wherever you are.

Not being able to afford smaller fixes or expenses (which will prevent larger expenses down the road) is one of the prime reasons that being poor is so expensive. A person with more financial means would just get the $500 car fix or the $200 filling.

The cost of living in China can vary by location and type of purchase. On average, China's cost of living is 45% lower than the U.S according to Numbeo. Rent in China is 60% lower than the U.S. on average.

Food prices are projected to rise in 2023, albeit at a slower pace than they did in 2022, according to the USDA.

The data used in the study analyzed the cost of living in each city as of 2022. For California cities like Los Angeles, Berkeley and San Diego, a single person must make more than $76,000 to “live comfortably,” the data shows.

The average Hawaii home value is $831,629, down 0.0% over the past year and goes to pending in around 25 days.

Conclusion: Overall, LA Wins

They're both expensive cities with a higher cost of living than most other places in the US, but what you can get for your money on the West Coast is simply more than the East Coast alternative.

For starters, the cost of living is drastically cheaper in Florida. California ranks as the second most expensive place to live in the country so those who move from California will find real estate prices much more affordable in Florida. Not only is Florida more affordable, but there are more jobs to be had.

Is it cheaper to live in California or Texas? ›

Cost of Living in California vs. Texas. In Texas, you can get a lot more bang for your buck. A MyMove study evaluating the cost of living in the United States in 2022 shows that California has a cost index of 151.7, while Texas has a cost index of only 91.5.

Overall, LA is about 24% less expensive than NYC. The cost of living in LA is lower than in NYC thanks to far lower housing prices. On average, housing in LA is 34% cheaper than in New York City. Additionally, prices for groceries, as well as restaurant prices, are lower in Los Angeles than in NYC.

Fort Wayne, Indiana, was named the city with the lowest cost of living for 2022.

More Relaxed Codes & Regulations

A few states across the country have relaxed building codes, and Texas is one of them. Endless permits and red tape do not hold up developers and construction crews. Consequently, homes are built faster, increasing the supply and keeping overall home prices more affordable.

Yes, Hawaii is known for its high cost of living due to factors such as housing, groceries, utilities, and transportation. What salary do you need to survive in Hawaii? To survive in Hawaii, a single person may need a salary of around $50,000 to $60,000, while a family may require $80,000 to $100,000.

The Takeaway

Florida can be an expensive place, mostly because the cost of renting or owning a home has gone up so much. But with a good salary — by one definition at least $60,000 for a single, childless person — and a solid spending plan, you can enjoy the laid-back Florida lifestyle.