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November 7, 2024 | 08:06 am
TEMPO.CO, Jakarta - These highest-cost of living states in America demonstrate a living concern against the rapid growth of inflation.
Generally, cost of living means the amount of cost one needs to pay to live somewhere. Housing expenses, groceries prices, utilities, transportation fees, health care, taxes, miscellaneous goods, and services fall under the umbrella of cost of living.
This article delves into the top rank of expensive states in the United States, highlighting different essential categories based on the findings of Visual Capitalist and Forbes Advisor.
Top 10 Highest Cost of Living States in America
1. Hawaii: $55,491
2. Massachusetts: $53,860
3. California: $53,171
4. New York: $49,623
5. New Jersey: $49,511
6. Alaska: $48,670
7. Maryland: $48,235
8. Washington: $47,231
9. Connecticut: $46,912
10. Oregon: $46,193
The data is demonstrated based on the total yearly cost of living in each state.
As coastal life is not an easy feat, Hawaii ranks one as the highest cost of living state in America. Hawaii residents spend an annual expenditure of $55,491 spread across multiple expenses.
Although Hawaii reportedly has the lowest annual average salary compared to other contenders on the list, residents of the state spend 45% more than the national average, per USA Today.
Top 10 States with the Highest Cost of Housing Rent in America
1. Hawaii: $2,423
2. California: $1,956
3. New Jersey: $1,828
4. Massachusetts: $1,806
5. New York: $1,745
6. Maryland: $1,732
7. Florida: $1,703
8. New Hampshire: $1,663
9. Colorado: $1,626
10. Connecticut: $1,609
According to the findings of Forbes Advisor from Apartment List (2017-2023), there is an expected leap in monthly rental fees in some states due to high demand and low inventory.
Top 10 States with the Highest Cost of Transportation in America
1. Hawaii: $7,458
2. California: $6,597
3. Alaska: $6,480
4. Nevada: $6.230
5. Washington: $6,225
6. Oregon: $6,039
7. Delaware: $5,997
8. Idaho: $5,832
9. Colorado: $5,709
10. Massachusetts: $5,699
Hawaii supports an award-winning public transportation titled ‘The Bus’ that serves as the best way to get around the island. Even so, the state’s average transportation expenses swell due to several causes, such as fuel, parking costs, and the overall maintenance of owning a car.
Top 10 States with the Most Expensive Food Prices in America
1. Alaska: $5,970
2. Hawaii: $5,886
3. California: $5,262
4. Washington: $5,141
5. Oregon: $5,042
6. Idaho: $4,859
7. Montana: $4,827
8. Massachusetts: $4,787
9. Nevada: $4,784
10. Wyoming: $4,780
Despite not being the sole spectator of inflation reading, food prices remain one of the biggest concerns for residents. Grocery prices are especially noticeable in Alaska, where most ingredients have to be shipped in.
Top 10 States with the Highest Income Taxes in America
1. Hawaii: $7,850
2. New York: $7,116
3. Massachusetts: $7,105
4. Oregon: $6,858
5. Maryland: $6,326
6. California: $6,312
7. Virginia: $6,149
8. Illinois: $5,925
9. Colorado: $5,859
10. Georgia: $5,576
While the United States is among the world’s most economically influential countries, several key factors contribute to the distinct living expenditures. These highest-cost of living states exceptionally demonstrate hefty annual spending compared to others.
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