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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 chart below reflects the average (mean) wage as reported by various data providers. The salary distribution is right-skewed, therefore more than 50% of people earn less than the average net salary. These figures have been shrunk after the application of the income tax.
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 ...
Frequently asked questions. Which U.S. state has the lowest cost of living? According to a study from the Council of Community & Economic Research, Oklahoma has the lowest cost of living in the ...
Visualisation of Numbeo's 2023 cost of living index by country. The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Changes in the cost of living over time can be measured in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a certain ...
The Bureau of Economic Analysis has calculated that the regional price parity in 2019 of the 50 largest MSAs ranges from 88.3 in Birmingham, Alabama (which has the lowest cost of living of the 50 most populous MSAs) to 126.7 in San Jose, California (the highest cost of living of the 50 most populous MSAs). An income of $0.88 in Birmingham ...
SmartAsset adjusted a $100,000 income for federal, state, and local taxes, as well as local cost of living premiums, to find the purchasing power – or effective value – in 72 of the largest U ...
Average wage in the United States was $69,392 in 2020. [1] Median income per person in the U.S. was $42,800 in 2019. [2] The average is higher than the median because there are a small number of individuals with very high earnings, and a large number of individuals with relatively low earnings. (See Income inequality in the United States.)