5 States With Living Costs That Rival California
Written by
Sean Fisher, AI Editor
Edited by
Sean Fisher
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While California is notorious for its high living costs, several other states across the U.S. also pose significant financial challenges to their residents. To find the most expensive states to live in, GOBankingRates looked at annual living expenses for all 50 states, utilizing the Consumer Expenditure Survey, which is the most recent data from the Bureau of Labor Statistics. The cost-of-living indexes were gathered for housing, groceries, utilities, healthcare and transportation, and overall annual expenditure totals for each living expense were calculated. With this data, here’s a look at five states where the cost of living is comparable to or exceeds that of California:
Check Out:
Vermont
Cost-of-Living Index: 115.6
Annual Cost-of-Living Expenditures: $84,350
Situated at the end of the energy pipeline, Vermont experiences higher energy costs, which are about 21.2% above the national average. The predominance of residential over industrial natural gas usage further drives up these expenses, making Vermont an expensive state for energy consumers.
Alaska
State Cost of Living Index: 125.3
State Annual Cost of Living Expenditures: $91,428
Alaska’s high cost of living is sharply influenced by its remote location and the scarcity of medical providers, which results in healthcare costs that are 52.1% higher than the national average. This combines with high transportation and import costs to make living in Alaska particularly expensive.
Massachusetts
Cost-of-Living Index: 143.1
Annual Cost-of-Living Expenditures: $104,416
Massachusetts is noted for its high grocery and utility expenses. Residents pay an average of $500 more annually for groceries compared to the national average, with utilities also far exceeding typical U.S. costs.
New Hampshire
Cost-of-Living Index: 114.6
Annual Cost-of-Living Expenditures: $83,620
In New Hampshire, not only are housing and utilities above average, but healthcare costs also stand out as particularly high. Annually, healthcare in New Hampshire costs $8,623, which is significantly higher than the national average of $6,954.
Hawaii
Cost-of-Living Index: 181.5
Annual Cost-of-Living Expenditures: $132,435
Ranking as the most expensive state in America, Hawaii’s cost of living index surpasses all others by a substantial margin. Its remote geographic location contributes to high costs in nearly every category, including food, utilities, and housing.
Conclusion
These states, with their unique geographical and economic characteristics, present significant financial challenges, much like California. Whether it’s Vermont’s energy costs, Alaska’s healthcare, or Hawaii’s overall expense, residents and potential movers need to be well-prepared financially to thrive in these regions.
Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.
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