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.

In 2023, the U.S. Consumer Price Index was 309.42, and is projected to increase to 352.27 by 2029. The base period was 1982-84. The monthly CPI for all urban consumers in the U.S. can be accessed here. After a time of high inflation, the U.S. inflation rateis projected fall to two percent by 2027. United States Consumer Price Index ForecastIt is projected that the CPI will continue to rise year over year, reaching 325.6 in 2027. The Consumer Price Index of all urban consumers in previous years was lower, and has risen every year since 1992, except in 2009, when the CPI went from 215.30 in 2008 to 214.54 in 2009. The monthly unadjusted Consumer Price Index was 296.17 for the month of August in 2022. The U.S. CPI measures changes in the price of consumer goods and services purchased by households and is thought to reflect inflation in the U.S. as well as the health of the economy. The U.S. Bureau of Labor Statistics calculates the CPI and defines it as, "a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services." The BLS records the price of thousands of goods and services month by month. They consider goods and services within eight main categories: food and beverage, housing, apparel, transportation, medical care, recreation, education, and other goods and services. They aggregate the data collected in order to compare how much it would cost a consumer to buy the same market basket of goods and services within one month or one year compared with the previous month or year. Given that the CPI is used to calculate U.S. inflation, the CPI influences the annual adjustments of many financial institutions in the United States, both private and public. Wages, social security payments, and pensions are all affected by the CPI.

In March 2025, inflation amounted to 2.4 percent, while wages grew by 4.3 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

Monthly indexes and percentage changes for major components and special aggregates of the Consumer Price Index (CPI), not seasonally adjusted, for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the corresponding month of the previous year, the previous month and the current month. The base year for the index is 2002=100.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Santa Clara County, CA (MWACL06085) from 2009 to 2023 about Santa Clara County, CA; San Jose; adjusted; average; wages; CA; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Riverside County, CA (MWACL06065) from 2009 to 2023 about Riverside County, CA; Riverside; adjusted; average; wages; CA; real; and USA.

In January 2025, apartment rents recorded an annual growth in most U.S. states. Nevertheless, the national average rent declined by about *** percent. West Virginia was the state with the largest rental increase, while Colorado measured the largest decline. California, one of the most expensive states to rent an apartment, such as California, saw an increase of about *** percent from the previous year. How much should you earn to afford to rent an apartment in different states in the U.S.? Both employment opportunities and the living costs vary widely across the country. In California, which is among the most competitive housing markets in the U.S., the hourly wage needed to afford a two-bedroom apartment rental was roughly ** U.S. dollars, more than twice higher than in North Carolina, Louisiana, or Michigan in 2024. When it comes to the median household income, on the other hand, California does not even make it in the top ten states. How much should you earn to afford a home in some of U.S. largest metros? In 2022, the annual salary needed to buy a median-priced home in the U.S. was ****** U.S. dollars. However, in some of the largest metropolitan areas in the United States, where housing prices are up to two or three times higher, homebuyers would have to earn more than 100,000 U.S. dollars to afford a home. In San Jose, which was the most expensive metro, the annual salary needed for a median-priced home was approximately ******* U.S. dollars.

Annual indexes for major components and special aggregates of the Consumer Price Index (CPI), for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the last five years. The base year for the index is 2002=100.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Ventura County, CA (MWACL06111) from 2009 to 2023 about Ventura County, CA; Oxnard; adjusted; average; wages; CA; real; and USA.

Monthly indexes for major components and special aggregates of the Consumer Price Index (CPI), not seasonally adjusted, for Canada, provinces, Whitehorse, Yellowknife and Iqaluit. Data are presented for the current month and previous four months. The base year for the index is 2002=100.

In 2023, there were about ******* homeless people estimated to be living in the United States, the highest number of homeless people recorded within the provided time period. In comparison, the second-highest number of homeless people living in the U.S. within this time period was in 2007, at *******. How is homelessness calculated? Calculating homelessness is complicated for several different reasons. For one, it is challenging to determine how many people are homeless as there is no direct definition for homelessness. Additionally, it is difficult to try and find every single homeless person that exists. Sometimes they cannot be reached, leaving people unaccounted for. In the United States, the Department of Housing and Urban Development calculates the homeless population by counting the number of people on the streets and the number of people in homeless shelters on one night each year. According to this count, Los Angeles City and New York City are the cities with the most homeless people in the United States. Homelessness in the United States Between 2022 and 2023, New Hampshire saw the highest increase in the number of homeless people. However, California was the state with the highest number of homeless people, followed by New York and Florida. The vast amount of homelessness in California is a result of multiple factors, one of them being the extreme high cost of living, as well as opposition to mandatory mental health counseling and drug addiction. However, the District of Columbia had the highest estimated rate of homelessness per 10,000 people in 2023. This was followed by New York, Vermont, and Oregon.

Medicaid spent approximately 164 billion U.S. dollars on long-term care services in 2023, which was an increase on the previous year. California, New York, and Minnesota were the states with the highest long-term care expenditures. States support home- and community-based care Combined spending on nursing care facilities, home health care, and other health care made up roughly one-third of Medicaid’s total costs in 2019. Other health care costs include home- and community-based waiver programs that allow people to receive long-term care at home or in their community. Nearly all states offer the waivers, which can substantially reduce expenditures for Medicaid enrollees who would otherwise have to enter a long-term institutional service, such as a nursing home. In recent decades, the distribution of Medicaid’s long-term care services expenditures has shifted toward home- and community-based care. The costs of in-home care are rising Long-term care expenditures vary depending on the setting, location, and level of care required. In 2020, the annual median cost of long-term care in the United States ranged from 19,240 U.S. dollars for adult day health care services to 105,850 U.S. dollars for a private room in a nursing home. In general, the costs of nursing home facilities were considerably higher than those for home care and community living options. However, in-home care reported the highest year-on-year cost increases, and growing demand for the services has led to a rise in spending on home health care over recent years.

Survey of Household Spending (SHS), average household spending on detailed food categories.

Market Basket Measure (MBM) thresholds for the reference family by MBM region and base year. Total thresholds as well as thresholds for the food, clothing, transportation, shelter and other expenses components are presented, in current and constant dollars, annual.

Survey of Household Spending (SHS), average household spending, Canada, regions and provinces.