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.

Comprehensive cost of living breakdown for Florida including housing, food, transportation, and healthcare costs for retirement planning.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Lake County, FL (MWACL12069) from 2009 to 2023 about Lake County, FL; Orlando; adjusted; average; FL; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Okaloosa County, FL (MWACL12091) from 2009 to 2023 about Okaloosa County, FL; adjusted; average; FL; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Leon County, FL (MWACL12073) from 2009 to 2023 about Leon County, FL; Tallahassee; adjusted; average; FL; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Palm Beach County, FL (MWACL12099) from 2009 to 2023 about Palm Beach County, FL; Miami; adjusted; average; FL; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Broward County, FL (MWACL12011) from 2009 to 2023 about Broward County, FL; Miami; adjusted; average; FL; wages; real; and USA.

In the United States, Hawaii was the state with the most expensive housing, with the typical value of single-family homes in the 35th to 65th percentile range exceeding ******* U.S. dollars. Unsurprisingly, Hawaii also ranked top as the state with the highest cost of living. Meanwhile, a property was the least expensive in West Virginia, where it cost under ******* U.S. dollars to buy the typical single-family home. Single-family home prices increased across most states in the United States between December 2023 and December 2024, except in Louisiana, Florida, and the District of Colombia. According to the Federal Housing Association, house appreciation in 13 states exceeded **** percent in 2023.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Duval County, FL (MWACL12031) from 2009 to 2023 about Duval County, FL; Jacksonville; adjusted; average; FL; wages; real; and USA.

Alaska, Hawaii, and Connecticut were the states with the highest average monthly utility costs in the United States in 2023. Residents paid about ****** U.S. dollars for their electricity bills in Hawaii, while the average monthly bill for natural gas came to *** U.S. dollars. This was significantly higher than in any other state. Bigger homes have higher utility costs Despite regional variations, single-family homes in the United States have grown bigger in size since 1975. This trend also means that, unless homeowners invest in energy savings measures, they will have to pay more for their utility costs. Which are the most affordable states to live in? According to the cost of living index, the three most affordable states to live in are Mississippi, Kansas, and Oklahoma. At the other end of the scale are Hawaii, District of Columbia, and New York. The index is based on housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services. To buy a median priced home in Kansas City, a prospective home buyer will have to earn an annual salary of about ****** U.S. dollars.

Cost comparison table showing 2023 and 2024 median costs by location

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Miami-Dade County, FL (MWACL12086) from 2009 to 2023 about Miami-Dade County, FL; Miami; adjusted; average; FL; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Polk County, FL (MWACL12105) from 2009 to 2023 about Polk County, FL; Lakeland; adjusted; average; FL; wages; real; and USA.

Texas, North Carolina, and Florida were the states with the highest number of mobile homes in the U.S. as of September 2023. Since 1994, the cumulative number of manufactured housing units shipped to Texas amounted to approximately *******. Texas was also home to the largest number of manufactured home production plants, with over ** facilities operating in the state. What is the price of a mobile home? Because they are factory manufactured, mobile homes are considerably less expensive than regular homes. In 2022, a double-width mobile home cost about ******* U.S. dollars. While this may be more affordable than buying a new home, there are drawbacks to owning a mobile home. For example, unless the home buyer also owns the land, the mobile home is likely to depreciate over time. In contrast, regular homeowners can expect that if home prices and land prices grow, their property will go up in value. The need for affordable housing With house prices and mortgage rates rising, while housing inventory remains limited, it has become increasingly difficult for prospective homebuyers to buy a home. To address this issue, the Biden-Harris administration released a housing supply action plan aiming to close the housing supply gap in the next five years. Within the scope of the plan are policies that encourage state and local zoning and land-use laws, piloting new financing for housing production and preservation, and preserving the availability of affordable housing for owner-occupants.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Pinellas County, FL (MWACL12103) from 2009 to 2023 about Pinellas County, FL; Tampa; adjusted; average; FL; wages; real; and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Volusia County, FL (MWACL12127) from 2009 to 2023 about Volusia County, FL; Deltona; adjusted; average; FL; wages; real; and USA.

Out of all 50 states, New York had the highest per-capita real gross domestic product (GDP) in 2024, at 92,341 U.S. dollars, followed closely by Massachusetts. Mississippi had the lowest per-capita real GDP, at 41,603 U.S. dollars. While not a state, the District of Columbia had a per capita GDP of more than 210,780 U.S. dollars. What is real GDP? A country’s real GDP is a measure that shows the value of the goods and services produced by an economy and is adjusted for inflation. The real GDP of a country helps economists to see the health of a country’s economy and its standard of living. Downturns in GDP growth can indicate financial difficulties, such as the financial crisis of 2008 and 2009, when the U.S. GDP decreased by 2.5 percent. The COVID-19 pandemic had a significant impact on U.S. GDP, shrinking the economy 2.8 percent. The U.S. economy rebounded in 2021, however, growing by nearly six percent. Why real GDP per capita matters Real GDP per capita takes the GDP of a country, state, or metropolitan area and divides it by the number of people in that area. Some argue that per-capita GDP is more important than the GDP of a country, as it is a good indicator of whether or not the country’s population is getting wealthier, thus increasing the standard of living in that area. The best measure of standard of living when comparing across countries is thought to be GDP per capita at purchasing power parity (PPP) which uses the prices of specific goods to compare the absolute purchasing power of a countries currency.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Brevard County, FL (MWACL12009) from 2009 to 2023 about Brevard County, FL; Palm Bay; adjusted; average; FL; wages; 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.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Walton County, FL (MWACL12131) from 2016 to 2023 about Walton County, FL; adjusted; average; FL; wages; real; and USA.