Five States with the Highest, Lowest Cost of Living
Just how widely does the cost of living vary from state to state? GoBankingRates.com reviewed 2016 data from the Missouri Economic Research and Information Center, examining six categories of housing, living expenses, groceries, utilities, healthcare, transportation, and miscellaneous expenses. The site used the data to calculate an overall cost of living index for each state and the District of Columbia.
The findings ranked states by highest cost of living, with Hawaii ranked number one. Its cost-of-living expenses are 67.4 percent higher than the national average and its housing costs higher than the national average by 130 percent.
- Hawaii
- Washington, D.C.
- New York
- California
- Massachusetts
The states with the lowest cost of living are:
- Mississippi
- Indiana
- Michigan
- Arkansas
- Oklahoma
Mississippi is the least expensive state with a cost of living 14 percent below the national average, according to GoBankingRates.com’s study. Mississippi housing costs are 31.6 percent lower than the national average and groceries are nearly 6 percent lower than the national average.
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