SmartAsset conducted a research that talked about how much money a family needs monthly to live comfortably in every state of the USA. A comfortable lifestyle is often divided by 50/30/20 rules where 50% income is spent on necessities, 30% of income is spent on nonessential expenses like entertainment etc. and 20% of income is for savings or investments. So, according to the data collected from different states, the report ranks Massachusetts as the most expensive state in the USA to live in. You need to have a total of $301,184 annual income for a family (which included only 2 working adults raising 2 children). The reason why this state is most expensive is probably because of its housing and real estate market trends. The houses are too costly to buy and the rents are barely affordable for a middle class family. The healthcare and utilities in Massachusetts are also very expensive.
The second most expensive city to live in the US is Hawaii. If you are two working adults with two children, you should have $294,611 annual income to have a comfortable lifestyle. Connecticut is the third most expensive state with $279,885 income on average to live comfortably. Other states in the top list of most expensive states to live in the USA include New York ($278,970), California ($276,723), Colorado ($264,992), Washington ($257,421), Oregon (257,338), New Jersey ($251,181) and Rhode Island ($249,267).
The three most least expensive states in the USA to live comfortably are Mississippi, Arkansas and West Virginia. Mississippi is the least expensive with $177,798 annual income to live comfortably. Arkansas is the second least expensive state and requires $180,794 yearly income while West Virginia is the third least expensive with $189,363 annual income to have a comfortable lifestyle.
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The second most expensive city to live in the US is Hawaii. If you are two working adults with two children, you should have $294,611 annual income to have a comfortable lifestyle. Connecticut is the third most expensive state with $279,885 income on average to live comfortably. Other states in the top list of most expensive states to live in the USA include New York ($278,970), California ($276,723), Colorado ($264,992), Washington ($257,421), Oregon (257,338), New Jersey ($251,181) and Rhode Island ($249,267).
The three most least expensive states in the USA to live comfortably are Mississippi, Arkansas and West Virginia. Mississippi is the least expensive with $177,798 annual income to live comfortably. Arkansas is the second least expensive state and requires $180,794 yearly income while West Virginia is the third least expensive with $189,363 annual income to have a comfortable lifestyle.
| State | Hourly wage needed for a single adult | Annual salary needed for a single adult | Annual income for 2 working adults raising 2 children |
|---|---|---|---|
| Massachusetts | $55.78 | $116,022 | $301,184 |
| Hawaii | $54.66 | $113,693 | $294,611 |
| California | $54.64 | $113,651 | $276,723 |
| New York | $53.72 | $111,738 | $278,970 |
| Washington | $51.20 | $106,496 | $257,421 |
| Colorado | $49.66 | $103,293 | $264,992 |
| New Jersey | $49.52 | $103,002 | $251,181 |
| Maryland | $49.48 | $102,918 | $239,450 |
| Oregon | $48.60 | $101,088 | $257,338 |
| Rhode Island | $48.48 | $100,838 | $249,267 |
| Connecticut | $48.26 | $100,381 | $279,885 |
| Virginia | $48.06 | $99,965 | $235,206 |
| New Hampshire | $47.16 | $98,093 | $244,109 |
| Arizona | $46.80 | $97,344 | $230,630 |
| Georgia | $46.58 | $96,886 | $212,826 |
| Alaska | $46.52 | $96,762 | $242,611 |
| Vermont | $46.04 | $95,763 | $248,352 |
| Illinois | $45.72 | $95,098 | $231,962 |
| Delaware | $45.26 | $94,141 | $228,966 |
| Utah | $45.04 | $93,683 | $218,483 |
| Nevada | $44.92 | $93,434 | $237,286 |
| Florida | $44.86 | $93,309 | $209,082 |
| Maine | $44.08 | $91,686 | $229,549 |
| Pennsylvania | $43.90 | $91,312 | $230,464 |
| North Carolina | $43.12 | $89,690 | $209,331 |
| Minnesota | $42.90 | $89,232 | $244,774 |
| Idaho | $42.66 | $88,733 | $211,245 |
| South Carolina | $42.46 | $88,317 | $200,762 |
| Wyoming | $42.14 | $87,651 | $203,424 |
| Texas | $41.84 | $87,027 | $201,344 |
| Tennessee | $41.54 | $86,403 | $195,770 |
| Indiana | $40.88 | $85,030 | $206,003 |
| Montana | $40.74 | $84,739 | $211,411 |
| Kansas | $40.70 | $84,656 | $196,768 |
| Michigan | $40.56 | $84,365 | $214,490 |
| Wisconsin | $40.44 | $84,115 | $225,056 |
| Missouri | $40.40 | $84,032 | $202,259 |
| Alabama | $40.30 | $83,824 | $193,606 |
| Nebraska | $40.24 | $83,699 | $213,075 |
| New Mexico | $40.20 | $83,616 | $203,923 |
| Iowa | $40.08 | $83,366 | $211,411 |
| Mississippi | $39.78 | $82,742 | $177,798 |
| Louisiana | $39.64 | $82,451 | $189,613 |
| South Dakota | $39.16 | $81,453 | $192,608 |
| Kentucky | $38.80 | $80,704 | $190,112 |
| Ohio | $38.80 | $80,704 | $209,331 |
| North Dakota | $38.72 | $80,538 | $202,176 |
| Oklahoma | $38.66 | $80,413 | $194,106 |
| Arkansas | $38.20 | $79,456 | $180,794 |
| West Virginia | $37.88 | $78,790 | $189,363 |
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