You may wish to relocate for a variety of reasons. Perhaps you’ve been offered a job in a different city. Maybe you’re about to retire and want to go to a place where the sun shines every day. In your sweetheart’s hometown, you may have fallen in love and are ready to make a commitment.
Knowing which states are the most expensive, for whatever reason, can be a big deciding factor when deciding where to relocate.
The cost of living is influenced by several things other than the price of a dwelling. Food, taxes, healthcare, transportation, and vital products are all collated in the data to calculate the cost of living in a certain place.
The average salary earner or retiree cannot afford to live in many locations. The Council for Community and Economic Research’s Cost of Living Index ranks these states as the top five most costly to live in.
So you want to be a part of paradise? You’ll have to pay the price for it. Hawaii is the most expensive state in the US to live in, but its beauty comes at a cost.
The average home costs $1.2 million, but that’s not all. A half-gallon of milk costs more than $4, while monthly power expenses are around $400. Expect to pay two to three times as much as you would in the United States for eggs or coffee. Almost everything in Hawaii is more expensive. It can be said with certainty. It would not be easy to find something that does not, but many residents claim that it is well worth the investment.
Beautiful weather with ocean views from every vantage point will undoubtedly be expensive. In 2019, California’s average home price was around $1.2 million. Due to a lack of rental availability in several cities, apartment living has proven difficult in many places.
If being in shape is important to you, exercise classes in California will cost you four to five times as much as in other states. A half-gallon of milk will cost you around $3, a doctor’s visit will cost you around $150, and your monthly utilities will cost you around $240. But, hey, at the very least, the weather is pleasant throughout the year!
3. New York
Another state from the northeast made the list of most costly. The city that never sleeps, New York, came in third, with an average price of $2 million for an apartment in the Big Apple.
Manhattan has the highest home prices in the country, with prices over ten times those in the Midwest. A half-gallon of milk cost was about $2.60, a doctor’s appointment was about $105, and monthly electricity bills were about $218. Living in a state famed for having it all comes with a price.
The average housing price in Massachusetts, a New England state, is $660,000, and rent is also rather high. A tiny two-bedroom apartment in the larger cities rents for $3,000 per month at around $30 per square foot. Gas prices were nearly double those in the southeast states in 2019, averaging around $4 per gallon. Owning a car may be costly.
Out-of-pocket payments for visits to the doctor were significantly higher in Maryland, averaging $190. Utility expenses, which totalled $237 each month, comprised a large portion of the budget. The winters in Massachusetts are bitterly cold, and staying warm requires a lot of energy.
Maryland is one of the most costly states to live in, just north of Washington, D.C. The average property price in the northeast state in 2019 was just over $800,000. This is more than twice the average home price in the United States.
A half-gallon of milk costs $2.10, a bottle of ibuprofen costs $9.80, and the typical power bill is around $174 when comparing vital products and meals. Even going to the doctor was more costly, with an average visit costing $100 in out-of-pocket costs.
Regentology is a real estate referral company that can help you save a lot of money on your home purchase. You will, without a doubt, require the services of an agent who has extensive local contacts and is knowledgeable about the housing market in the United States. Regentology can put you in touch with a real estate agent for a free consultation to help you navigate the difficult home-buying process.