10 Most Expensive States to Live in 2024 USA

Have you ever wondered which locations of the United States have the most expensive living costs? While the country ranks 26th in the world for total expenses, the cost of everyday necessities such as food, housing, health care, and transportation varies greatly by state.

These expenses can rise, particularly in major metropolitan regions. Housing, in particular, greatly increases living expenditures because it consumes a large portion of one’s income. Living prices in areas with heavy competition for housing surge to some of the highest in the country.

Hawaii will be the most expensive state to live in 2024, with a cost of living index of 193.3, over twice the national average. Housing costs three times the national average, with the average single-family home valued at $873,500. Only 29% of locals can afford to buy a home, which is one of the lowest rates in the country. A two-bedroom apartment costs $2,399 on average, and $3,500 per month in Honolulu.

Today on Top 10 Trips, we are going to explore the Top 10 most expensive states to live in 2024, USA. Watch till the end to find out which states top the list.

#10: Vermont

• Cost of Living Index: 117 (17% higher than the national average)
• Housing Costs: Single-family home priced at $299,998
• Rental Costs: Two-bedroom apartment averages $980 per month
• Income: Median income for a family of four is $95,665
• Additional Info: Vermont offers a strong sense of community and beautiful natural surroundings.

Vermont’s cost of living index is 117, indicating that expenses are 17% more than the national average. Vermont has exceptionally high housing costs, with a single-family home costing $299,998. However, housing affordability remains a major issue, with only 15% of inhabitants earning enough to purchase a new home. The average monthly rent for a two-bedroom apartment is $980. Despite the high prices, a family of four has a median income of $95,665. Vermont provides a strong feeling of community and stunning natural surroundings, which add intangible value to living in the Green Mountain State.

#9: Rhode Island

• Cost of Living Index: 117
• Housing Costs: Single-family home costs $372,900
• Utility Costs: Average $442 per month
• Income: Median income for a family of four is $118,100
• Additional Info: Rhode Island’s charming coastal towns and rich history offer a high quality of life.

Rhode Island’s cost of living index is 117. Rhode Island has 21% higher housing expenditures than the national average, with a single-family home costing $372,900. Utility bills average $442 per month. A family of four has a median income of $118,100, which is more than the living wage of $95,500. Despite the greater expenditures, Rhode Island’s lovely seaside villages and rich history provide a high standard of living that many inhabitants consider worthwhile.

#8: Connecticut

• Cost of Living Index: 121.6
• Housing Costs: Single-family home costs $381,964
• Rental Costs: Two-bedroom apartment is $1,485 per month
• Utility Costs: Average $438 monthly
• Income: Median income for a family of four is $137,900
• Additional Info: Connecticut boasts excellent education and healthcare systems.

Connecticut ranks seventh, with a cost of living index of 121.6. The average single-family home in Connecticut costs $381,964, while a two-bedroom apartment costs $1,485 per month. Utilities are among the most expensive in the country, costing an average of $438 monthly.

Despite its high prices, Connecticut boasts above-average salaries. The median annual income for a family of four is $137,900, which is significantly higher than the $99,950 required for a living wage. Connecticut has outstanding education and healthcare systems, which contribute to the general well-being of its citizens and justify the greater cost of living.

#7: Maryland

• Cost of Living Index: 124
• Housing Costs: Single-family home costs $366,500
• Rental Costs: Two-bedroom apartment rents for $1,647 monthly
• Healthcare Costs: Second lowest in the nation
• Income: Median income for a family of four is $132,500
• Additional Info: Maryland’s strategic location near major cities like Washington, D.C., and its thriving job market make it attractive.

Maryland’s cost of living index is 124. Overall, Maryland prices are 24% more than the national average, with housing costs 66% higher. The average single-family home costs $366,500. Despite the high cost of housing, Maryland boasts the second-highest house affordability rate, with 57.6% of inhabitants earning enough to own a home. A two-bedroom apartment rents for $1,647 per month.

Healthcare prices in Maryland are the second lowest in the country. The median yearly income for a family of four is $132,500, which is significantly higher than the $95,900 required to make ends meet for a household with two working adults. Maryland’s strategic location near large cities such as Washington, D.C., and its strong job market make it an appealing area to live, despite its high cost.

#6: Alaska

• Cost of Living Index: 127.1
• Healthcare Costs: Most expensive in the country
• Housing Costs: Single-family home costs $359,200
• Rental Costs: Two-bedroom apartment averages $1,234 per month
• Grocery Costs: 35% more than the national average
• Income: Median income for a family of four is $96,500
• Additional Info: Alaska’s stunning natural beauty and unique lifestyle are valued by many residents.

Alaska’s cost of living index is 127.1. Alaska has the highest healthcare costs in the country. Housing costs are 26.99% higher than the national average, with the average single-family home priced at $359,200. Two-bedroom apartments in Alaska cost an average of $1,234 a month.

Due to the state’s remote location, commodities are especially pricey, with food costing 35% more than the national average. The median income for a family of four is $96,500, while a living wage is $89,000. Many Alaskans value the state’s breathtaking natural beauty and distinctive lifestyle.

#5: Oregon

• Cost of Living Index: 131
• Housing Costs: Single-family home costs $447,900
• Rental Costs: Two-bedroom apartment averages $1,343 monthly
• Income: Median income for a family of four is $105,300
• Additional Info: Oregon’s vibrant culture, stunning landscapes, and progressive communities add value beyond financial measures.

Oregon ranks fifth, with a cost of living index of 131. While utilities are among the lowest in the country, Oregon has one of the most expensive housing markets. The typical single-family home costs $447,900. The average monthly rent for a two-bedroom apartment is $1,343. The state’s typical income for a family of four is $105,300, while the annual living wage is $96,000. Oregon’s unique culture, breathtaking landscapes, and progressive communities add value beyond monetary considerations. You also checkout Most Expensive Gifts in the World.

#4: Massachusetts

• Cost of Living Index: 135
• Housing Costs: 77% more than the national average
• Housing Prices: Single-family home costs $582,900
• Rental Costs: Two-bedroom apartment rents for $1,645 per month
• Income: Median income in Massachusetts is $140,300
• Additional Info: Boston has some of the highest rents in the state.

Massachusetts ranks fourth, with a cost of living index of 135. Housing is 77% more expensive than the national average, with the highest prices in Boston. The average single-family home in Massachusetts costs $582,900. The average two-bedroom apartment rents for $1,645 per month.

While rents in Boston are over three times the state average. Costs in all other categories are among the highest in the country. Massachusetts has the highest median income in the US, at $140,300, versus a livable wage of $121,400.

#3: California

• Gas Prices: Highest in the country
• Housing Costs: Twice the national average, single-family home priced at $683,000
• Income: Median income for a family of four is $125,500
• Additional Info: California’s booming tech industry, diverse culture, and stunning geography continue to draw residents.

California has the most expensive petrol and transportation expenditures in the country. Housing expenditures are double the national average, with a typical single-family home costing $683,000. Despite the costs, California’s thriving technology economy, diversified culture, and breathtaking scenery continue to attract residents. The median income for a family of four is $125,500, while the living wage is $99,950.

#2: New York

• Cost of Living Index: 148.5
• Housing Costs: 2.3 times the national average
• Rental Costs: Two-bedroom apartment in New York averages $1,659, in New York City averages $2,587
• Housing Prices: Single-family home costs $373,900
• Income: Median income for a family of four is $104,300
• Additional Info: New York’s unparalleled cultural offerings, job opportunities, and educational institutions make it desirable.

New York is the second most expensive state, with a cost-of-living index of 148.5. New York has the second most expensive housing market in the United States, with prices 2.3 times the national average. A two-bedroom apartment in New York costs an average of $1,659, while a comparable property in New York City costs an average of $2,587.

The average price of a single-family home is $373,900, and only 25% of inhabitants can buy a new home based on their salary. The median annual income for a family of four is $104,300, which is slightly more than the living wage of $102,500. New York’s unequaled cultural attractions, career prospects, and educational institutions make it an appealing, yet expensive, location to live.

#1: Hawaii

• Cost of Living Index: 193.3 (nearly double the national average)
• Housing Costs: Three times the national average, single-family home priced at $873,500
• Rental Costs: Two-bedroom apartment averages $2,399, in Honolulu it’s $3,500 monthly
• Grocery Costs: 50% more than the national average
• Income: Median family income of $108,223
• Additional Info: Hawaii’s breathtaking natural beauty and unique lifestyle continue to attract residents despite the high costs.

Hawaii is the most costly state, with a cost of living index of 193.3, over twice the national average. Housing costs three times the national average, with the average single-family home valued at $873,500. Only 29% of locals can afford to buy a home, which is one of the lowest rates in the country. A two-bedroom apartment costs $2,399 on average, and $3,500 per month in Honolulu.

Groceries also cost 50% higher than the national average because most items must be delivered to the islands. Despite its high expenses, Hawaii has the fourth-lowest poverty rate, with a typical family income of $108,223. Despite its high expense, Hawaii’s magnificent natural beauty and distinctive lifestyle continue to attract residents.

That’s all for today! I hope you enjoyed it and found the information helpful. Let me know in the comments: did your state make the list?

Until then, stay happy, stay curious, and have a great day!

Top 10 Most expensive states to live in 2024

Rank	State	Cost of Living Index	Housing Costs (Single-Family Home)	Rental Costs (Two-Bedroom Apartment)	Median Family Income
1	Hawaii	193.3	$873,500	$2,399 ($3,500 in Honolulu)	$108,223
2	New York	148.5	$373,900	$1,659 ($2,587 in NYC)	$104,300
3	California	140.0	$683,000	$1,750	$125,500
4	Massachusetts	135.0	$582,900	$1,645	$140,300
5	Oregon	131.0	$447,900	$1,343	$105,300
6	Alaska	127.1	$359,200	$1,234	$96,500
7	Maryland	124.0	$366,500	$1,647	$132,500
8	Connecticut	121.6	$381,964	$1,485	$137,900
9	Rhode Island	117.0	$372,900	$1,500	$118,100
10	Vermont	117.0	$299,998	$980	$95,665

These states are known for their high cost of living, driven primarily by expensive housing, utilities, and everyday expenses. The allure of these states often lies in their vibrant economies, cultural offerings, and natural beauty, which continue to attract residents despite the high costs.

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