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 84.8 - well below the national benchmark of 100. Nevada - which had an index value of 100.1 - 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 427,000 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 200,000 U.S. dollars. That makes living costs in these states significantly lower than in states such as Hawaii and California, where housing is much more expensive. 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 500 U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

146,9 (Index, higher means higher cost of living) in 2024Q3.

Housing cost index of Massachusetts soared by 15.90% from 195.0 index, higher means higher cost of living in 2024Q2 to 226.0 index, higher means higher cost of living in 2024Q3. Since the 6.30% drop in 2024Q1, housing cost index jumped by 6.20% in 2024Q3.

This statistic shows a ranking of the most affordable colleges in the United States as of 2012. To calculate the ranking the Daily Beast considered average student debt, total cost for tuition and general living expenses, average amount of financial aid received by students and average income earned by graduates in their future careers. In this graphic the average in-state attendance cost is depicted. At Massachusetts Institute of Technology, the university ranked as the most affordable, total attendance cost is on average 55,270 U.S. dollars.

Graph and download economic data for Consumer Price Index for All Urban Consumers: All items in Boston-Cambridge-Newton, MA-NH (CBSA) (CUUSA103SA0) from 1984 to 2024 about Boston, ME, NH, CT, MA, all items, urban, consumer, CPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Franklin County, MA (MWACL25011) from 2016 to 2023 about Franklin County, MA; Springfield; adjusted; MA; average; wages; real; and USA.

This statistic shows the median household income in the United States from 1990 to 2023 in 2023 U.S. dollars. The median household income was 80,610 U.S. dollars in 2023, an increase from the previous year. Household incomeThe median household income depicts the income of households, including the income of the householder and all other individuals aged 15 years or over living in the household. Income includes wages and salaries, unemployment insurance, disability payments, child support payments received, regular rental receipts, as well as any personal business, investment, or other kinds of income received routinely. The median household income in the United States varies from state to state. In 2020, the median household income was 86,725 U.S. dollars in Massachusetts, while the median household income in Mississippi was approximately 44,966 U.S. dollars at that time. Household income is also used to determine the poverty line in the United States. In 2021, about 11.6 percent of the U.S. population was living in poverty. The child poverty rate, which represents people under the age of 18 living in poverty, has been growing steadily over the first decade since the turn of the century, from 16.2 percent of the children living below the poverty line in year 2000 to 22 percent in 2010. In 2021, it had lowered to 15.3 percent. The state with the widest gap between the rich and the poor was New York, with a Gini coefficient score of 0.51 in 2019. The Gini coefficient is calculated by looking at average income rates. A score of zero would reflect perfect income equality and a score of one indicates a society where one person would have all the money and all other people have nothing.

In 2023, the real median household income in the state of Alabama was 60,660 U.S. dollars. The state with the highest median household income was Massachusetts, which was 106,500 U.S. dollars in 2023. The average median household income in the United States was at 80,610 U.S. dollars.

Graph and download economic data for Estimated Mean Real Household Wages Adjusted by Cost of Living for Suffolk County, MA (MWACL25025) from 2009 to 2023 about Suffolk County, MA; Boston; adjusted; MA; average; wages; real; and USA.

109,5 (Index, higher means higher cost of living) в 2024Q3.

In 2024, households in California needed an hourly wage of over 47 U.S. dollars to afford the rent of a two-bedroom apartment. Massachusetts had the second-least affordable two-bedroom apartments, as a household would have to earn at least around 45 U.S. dollars per hour in order to afford rent payments. These figures are considerably higher than the average minimum wage in place in many states. There was no state in which a minimum wage worker could afford rent for the average two-bedroom apartment, if they only worked 40 hours a week. Where are the least affordable counties and metros? The least affordable rents were predominately in Californian counties and metropolitan areas in 2024. District of Columbia has one of the highest minimum wages in the country, which stood at 17 U.S. dollars per hour as of January 2024. Thus, the affordability of two-bedroom apartments highlights how disproportionately high housing costs are in the state.