Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Boone County, MO (MWACL29019) from 2009 to 2023 about Boone County, MO; Columbia; adjusted; MO; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Franklin County, MO (MWACL29071) from 2009 to 2023 about Franklin County, MO; St. Louis; adjusted; MO; average; wages; real; and USA.

West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to **** — well below the national benchmark of 100. Virginia— which had an index value of ***** — was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California. Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately ******* U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than ******* U.S. dollars. That makes living expenses in these states significantly lower than in states such as Hawaii and California, where housing is much pricier. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded *** U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for St. Louis city, MO (MWACL29510) from 2009 to 2023 about St. Louis City, MO; St. Louis; adjusted; MO; average; wages; real; and USA.

89,0 (Index, higher means higher cost of living) in 2024Q3.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Greene County, MO (MWACL29077) from 2009 to 2023 about Greene County, MO; Springfield; adjusted; MO; average; wages; real; and USA.

91,6 (Index, higher means higher cost of living) in 2024Q3.

98,0 (Index, higher means higher cost of living) in 2024Q3.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Jefferson County, MO (MWACL29099) from 2009 to 2023 about Jefferson County, MO; St. Louis; adjusted; MO; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Clay County, MO (MWACL29047) from 2009 to 2023 about Clay County, MO; Kansas City; adjusted; MO; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Cass County, MO (MWACL29037) from 2009 to 2023 about Cass County, MO; Kansas City; adjusted; MO; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Jackson County, MO (MWACL29095) from 2009 to 2023 about Jackson County, MO; Kansas City; adjusted; MO; average; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for St. Charles County, MO (MWACL29183) from 2009 to 2023 about St. Charles County, MO; St. Louis; adjusted; MO; average; wages; real; and USA.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting 168 U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded 500,000 U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly 12 percent year-on-year, and in 2022, the increase was even higher, at close to 17 percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under three percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.