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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 first table contains a list of U.S. states and territories by annual median income. The second table contains a list of U.S. states and territories by annual mean wage. Information from an unknown source; 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]
Cost of living score: 84.7 (15.3% lower than the national average) For You: The Minimum Salary You Need To Buy a Home in 2024 in All 50 States LIKE HE / Getty Images/iStockphoto
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.
Although inflation does have a hand in determining the cost of living, low levels of inflation do not always mean lower costs of living. Data from the Consumer Price Index (CPI), a key metric from ...
Alaska City With the Lowest Cost: Tanana. Population: 214. Average cost of living: $35,083. City With the Highest Cost: Sitka. Population: 8,462. Average cost of living: $52,174. Discover More: 9 ...
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 ...
The overall national average cost of living is estimated to be between $30,000 and $42,000 — but how much more are ... enjoys sunny weather and a lower cost of living than the state’s larger ...