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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.
Adding the average mortgage to the average expenditure cost gives the total monthly cost of living for each state. The states were sorted to show the cheapest to the most expensive. All data was ...
Parsons, Kansas comes in with the lowest cost of living at $23,146 on average. For an individual in the U.S., the national average cost of living is around $38,266. For a family of four, it is ...
Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population. [2] Overall, in the calendar year 2024, the United States' Nominal GDP at Current Prices totaled at $29.017 trillion, as compared to $25.744 trillion in 2022.
Hawaii was the state with the highest cost of living in the U.S. for 2023, according to research by the Missouri Economic Research and Information Center.Oklahoma had the lowest. How cost of ...
U.S. states and D.C. by median home price, February 2024 (in February 2024 dollars) [1] State rank State or territory Median home price in US$ 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
In Colorado, the cost of living is 5.1% above the national average, but there are some variations in the state between the categories. Housing costs, for example, are 13.6% above average, but ...