Cost of living is a huge concern for many people in the US these days. The fifty states in the US may all be united by a single federal government, but they really couldn’t be more different from each other. From the humid Southeast to the beaches of the coasts, here are the priceist (and most affordable) states you can live in ranked by cost of living.
1. Hawaii
Hawaii is an expensive place to live for a lot of reasons. It’s pretty far from the rest of the US, geographically, sitting right in the middle of the Pacific Ocean. That makes it a huge “goal” state to live in as well as pumping up the cost to receive supplies from the mainland. The median home price in Hawaii is $783,700.
2. Massachusetts
Who would have thought that it’d be expensive to live in Boston—or anywhere else in Massachusetts, for that matter. New England is expensive! The average house in the state costs around $590,000, the median home price is $643,000, and the median household income is hovering around $89,000.
3. California
The Golden State is home to Hollywood, Silicon Valley, and many other places where many people want to live. With a median household income of $84,000, you could expect to pay nearly $750,000 just to buy a house in California. The median home price is the highest in the nation at $818,900.
4. New York
It’s not surprising to learn that it’s expensive to live in New York State. After all, New York City is there, and it’s one of the most densely populated places on the planet. When you get that many people living in close proximity to one another, things start to get downright expensive. Interestingly, the median home price is lower than New Jersey and a few other expensive states at $551,900.
5. Alaska
Alaska is one of the few states near the top of the list where population density isn’t really a factor in its cost of living. Instead, it’s got everything to do with remoteness: outside of the handful of cities along the southern coast of the state, Alaska is a brutal Arctic region that is very difficult to live in. The median home price, at least, is $399,100, which is much more affordable than some states.
6. Maryland
The Old Line State is the sixth most expensive state in the US to live in, which is a result of its population density and proximity to major cities like Washington DC. Baltimore is a huge metropolitan city, which contributes heavily to the average house price of $400,000. The median home price is similar, sitting at $436,100.
7. Oregon
People love moving to Portland. That makes it little surprise to hear that Oregon as a whole has an average home cost of around $490,000. That, combined with the median household income of $70,000, makes Oregon the seventh most expensive state to live in.
8. Washington
Seattle is a beautiful city, but if you plan to live there, you’re going to shell out some serious money. Getting a house anywhere in Washington State will run you around $570,000 on average. The Evergreen State is a popular place to live, and people moving in have really increased prices lately. The median home price, for instance, is among the highest in the country at $643,500.
9. New Hampshire
The Granite State continues the trend of New England states being downright prohibitively expensive to live in unless you make somewhere near the household median income of $80,000. The average home price is $450,000, and renters pay a median of $2,100 per month. The median home price is $502,800.
10. Vermont
If you pop open a map, you’ll see that Vermont is located in New England. If you consult this list of the most expensive states to live in, you’ll see that many of them are in New England. It’s expensive to live in a very cold part of the world for some reason. Go figure! The median home price here is $411,800.
11. New Jersey
New Jersey has an average home value of nearly $500,000 and a median household income approaching $90,000. It’s one of the most expensive places in the country to live largely due to its proximity to New York City. The median home price here is $556,300, higher than New York’s.
12. Connecticut
Even the least-populated state of New York City’s “tri-state area” is still among the most expensive states in the US to live in. It’s got everything to do with proximity to the Big Apple, which sees the state’s average home value sitting around $380,000. The median home value is somewhat high at $461,200, though lower than New York and New Jersey’s.
13. Maine
The Pine Tree State is the only state in New England that isn’t bizarrely expensive to live in, but it’s still not cheap. This could be due in part to its remoteness and extreme northern position in the US, giving it brutally cold winters that keep all but the most determined people away. The median home price is $414,700.
14. Rhode Island
Rhode Island might be a small state, but it’s also located in New England, which makes it an expensive place to live. The Ocean State’s proximity to Boston also goes without saying, as states in the Greater Boston Metropolitan Area are just pricey to live in. The median home price, consequently, sits around $512,500.
15. Arizona
If you want to live in the Grand Canyon State, expect to spend around $425,000 for a home or $2,000 per month for rent. Many of Arizona’s cities are located in the desert, making it unsurprising that it’s a bit pricey to live there—it’s hard to get stuff out into such an inhospitable region! The median home price out in Arionza is $442,900.
16. Idaho
The cost of living in the Pacific Northwest is just high, no matter where you stay. The region’s unique climate and proximity to major cities makes it extremely popular, and it beautiful natural landscapes are a huge draw for people moving in. The meidan home price is $481,800.
17. Colorado
Colorado is a beautiful state with soaring mountains and some of the coolest cities in the country. That makes it a popular place for young people to move to, which has resulted in a huge spike in population for cities like Boulder. It costs an average of $2,200 to rent a place to stay in the state! The median home price is extremely high at $594,200.
18. Montana
Another far northern state with a low cost of living, Montana is kind of “the middle of nowhere.” That being said, it’s a beautiful place with lots of untouched wilderness, so many people who want to get far away from the hustle and bustle move there! The median home price is somewhat high, though, coming in at $520,400.
19. Virginia
Virginia is high on this list for many of the same reasons as Maryland: it’s very close to Washington DC. Also, cities like Chesapeake and Virginia Beach have very dense populations, increasing the cost of living for the state dramatically. The median home price is high at $448,000.
20. Delaware
Just cracking the top 20 is Delaware, a state that is close to both Baltimore and Philadelphia. The relatively small state is home to just over a million people, and that population density helps make it a relatively expensive state to live in. The median home price is $368,600.
21. Florida
Florida is the only place in the contiguous US where you can access tropical temperatures and find places where the icy grip of winter can’t find you. That makes it a popular destination for retirees, or just those seeking some fun in the sun. The median price for a home reflects that popularity, coming in at $403,200.
22. Utah
You might see a pattern developing here in the middle of the states: one notable big city doesn’t make the whole state expensive to live in. Utah’s average home cost is a whopping $500,000, but the median household income is nearly $80,000. The median home price, likewise, is $548,300.
23. Nevada
Right near the middle of our list is Nevada, which could come as a bit of a surprise. However, don’t let the glitz and glamor of Las Vegas fool you: most of the cities in Nevada are relatively small and affordable to live in. The median home price is $467,600.
24. Pennsylvania
You might expect Pennsylvania to be at least a little higher on this list, given that it’s got Philadelphia. However, despite the presence of that large city, the average home cost in the state is just $257,000, the median home price is $311,300 and median rent is $1,500.
25. South Carolina
Unsurprisingly, South Carolina is right ahead of North Carolina in terms of cost of living due to the states’ nearly identical demographics. There are a handful of pricier cities to live in, like Greenville, Columbia, and Charleston, but the state is otherwise quite affordable. The median home price is $382,300.
26. North Carolina
Sure, you could spend a fortune to live in Charlotte, North Carolina, or you could save some money and live in any other city in the state. Nothing against Charlotte, it’s just a bit too bland to justify how expensive it is to live in. The median home price in North Carolina is a touch cheaper than South Carolina, at $381,400.
27. Wisconsin
Getting into the bottom half of the list, Wisconsin has an average home pricey of $290,000, a median home price of $328,00, and a median monthly rent of $1,250. It’s a somewhat remote state with a cold climate, which could explain the smaller costs.
28. North Dakota
North Dakota is very sparely populated and quite remote, but that doesn’t mean it’s the cheapest state to live in. The average house is $254,000, the median home price is $288,300 and the median household income is $68,000. The average monthly rent in the Peace Garden State is $945.
29. New Mexico
Why is it so cheap to live in the Land of Enchantment? It’s got a lot to do with the availability of high-paying jobs in the state. Or, specifically, the lack of them! Many people with higher education choose to move away, leaving the state at a lower income level than many of its neighbors. The median home price is at $377,100.
30. Minnesota
Does Minnesota’s placement surprise you? People like living in one of the coldest states in the US for some reason, giving it an average home value of $330,000, a median home price of $385,500 and median rent of $1,500. Some people like it cold!
31. Ohio
This one might surprise you: Ohio is only the 31st most expensive state in the US. This is despite the presence of several major cities and relative proximity to other populous states. Chalk it up to a huge disparity in the cost of rural versus urban living! The median home price, tellingly, is just $258,100.
32. Kentucky
Much like Arkansas, Kentucky has an average home value of $200,000, a median home price of $264,600 and a median household income of around $50,000. Once again, this is due to a number of factors that plague the Southeast, including a lack of investment from large companies.
33. South Dakota
Few states are more “the middle of nowhere” than South Dakota. It’s a massive expanse of mountains, forests, and a few scattered cities. It’s the among the more affordable state to live in, only pricier than the other states on our list due to its remoteness. The median home price here is $321,400.
34. Texas
Texas is a huge state and, as these things go, is not very densely populated. However, a handful of major metropolitan areas in the Lone Star State like Dallas-Fort Worth, Austin, and San Antonio contribute to this state’s sky-high average home value of $300,000 and median home price of $349,600, making its placement on the costo f living index something of an anomaly related to its higher-than-average median income.
35. Wyoming
Who doesn’t want to live in a state that’s officially called “the Cowboy State”? A lot of people, apparently: more people live in Washington DC than in the entire state of Wyoming. Somehow, there are still states with a lower overall cost of living, though. Still, the median home price is $317,000.
36. Michigan
It’s been a long time since Detroit’s numerous car companies were a meaningful economic force in the state. As such, it’s the 36th most expensive state to live in. And most of the price is coming from the aforementioned Detroit and some expensive lakefront property in the northern region of the state. The median home price is only $271,300, though.
37. Louisiana
As long as you’re not looking to live in New Orleans, you won’t need much cash to make the Pelican State your home. Louisiana has an average home cost of $200,000, median home price of $277,900, and median household income of $53,000.
38. Indiana
It’s not too expensive to live in the Hoosier State, with an average home cost of $232,000, median home price of $267,200 and monthly rent around $1,300. This could be partly due to the lack of major metropolitan areas in the state and its relative distance from big cities.
39. Georgia
Getting near the bottomof the pack, Georgia is a unique state when it comes to cost of living. If you want to live in a densely populated place like Atlanta, Savannah, or Augusta it’s going to cost you. However, most of the state’s cities are much more affordable. The median home price is quite high at $373,300.
40. Illinois
CXn it beexpensive to live in Illinois? Well, Chicago is there. That’s reason enough to understand why the average home cost is $250,000 in the state, the median home price is $300,800 and median rent hovers around $1,750. The median household income in Illinois is around $72,000, to boot. Still, it’s low on the cost of living index due to high average incomes.
41. Tennessee
Tennessee is an interesting state on this list: it’s home to some major cities like Nashville and Memphis, but it’s still near the bottom of our list in terms of cost of living. Why is that? Well, Tennessee is a much bigger state than you probably realize and most of its cities are quite rural. The median home price is $385,600.
42. Arkansas
The cheapest states in the US to live in are all throughout the Southeast. While the average home value is $200,000 and the median home price is $265,200, the state’s median household income is only $48,000. That’s stunningly low for the US and speaks to a general lack of high-paying positions in the state.
43. West Virginia
It’s not surprising to hear that West Virginia is an inexpensive state to live in. Many of its cities grew out from older coal mining settlements, and the region isn’t well-known for being a “cool” or “hip” place to live. The median home price is just $250,700.
44. Nebraska
What goes on in the Cornhusker State? If we had to guess, we’d say college football, mostly. But if you want to live there, you’ll only need to shell out around $250,000 for a home on average. The median house price is around $296,600 and the median household income is just over $66,000.
45. Iowa
The Hawkeye State is surprisingly affordable to live in. There are only five chepaer states to live in than Iowa. So, what gives with Iowa? The Midwestern state is just rather distant from any notable activities or population centers, making it a sleepy, quiet state to live in. The median home price is the lowest in the country at $240,800.
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46. Alabama
It should come as no surprise that Alabama, a state with well-documented race and class divisions, is among the lowest cost of living states in the US. The average home costs around $223,000, the median home price is $281,7000 and the median household income hovers around $55,000.
47. Missouri
As long as you don’t want to live in St. Louis or Kansas City, you won’t break the bank to live in Missouri. The Midwest as a general rule is a very affordable place to live due to its lower population and relatively straightforward topography. The median home price in Missouri is $269,300.
48. Kansas
The Heartland of Kansas might be right in the middle of the country geographically, but it’s near the bottom of our list in terms of cost of living. That could be due to its low population density and relatively uninspiring, flat topography. The median home price in Kansas is $280,100.
49. Oklahoma
Oklahoma is very close to Texas geographically, but it’s dramatically more affordable to live in the Sooner State. Why is that? There are a number of factors contributing to this affordability, including an abundance of real estate and surprisingly low gas prices. The median home price is very low at only $251,800.
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50. Mississippi
Mississippi routinely ranks last in terms of education and job opportunities, which makes it one of the poorest states in the country. It’s also got access to plenty of shipping from the Mississippi River, which keeps the price of groceries and other goods inexpensive. The median home price just $256,300, among the cheapest in the country.
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