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Ranked from highest to lowest overall cost of living, here are the 20 states where single adults have the lowest monthly expenses. FiledIMAGE / Getty Images/iStockphoto 20.
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
Cost-of-living index: 90.3. Annual cost of necessities: $33,060. Annual expenditure: $65,889. Tennesse ranks as the cheapest state without income tax on the list. All cost-of-living expenses are ...
Similarly, Connecticut, which has one of the lowest property tax rates in the country, has a high cost of living. ... Annual cost of living: $33,649. State tax on Social Security: will end in 2026
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).
Iowa. Median Home Value: $194,600 Median Monthly Rent: $1,100 Median Household Income: $69,588 Unemployment Rate: 2.8% Cost of living: 9.9% lower than the national average Explore More: What the ...
The overall cost of living in Texas is 7.3% lower than the national average, which puts the state in America’s 20 cheapest. Housing leads the way at 16.9% lower. Healthcare costs are 5.1% lower ...
Living Cheap Still a Challenge. As of 2021, the last year data are available, average personal consumption expenditures in the U.S. were $47,915 a year or about $3,993 a month, according to the BEA.