Oklahoma also has significantly lower housing costs, with the average rent for a two-bedroom ⦠Maybe you’re looking at multiple areas in Florida, South Carolina, Arizona or even Hawaii. Depending on the area in Florida where you lay down roots will depend on how much you can stretch your dollars. To offset these higher costs (e.g., rent), wages are … TEXAS, UNITED STATES. Hawaii has lower than average insurance rates, especially home insurance. Arkansas has the second-lowest cost of living index in the country with an index of 86.9. They may charge you higher rates based on an area’s claims history, economics and social factors. One silver lining is insurance costs. The least expensive areas were the Midwest and Southern states. Use this easy calculator to compare how much cost of living index differs from one place to other. The state of Iowa has the lowest cost of living in the United States by 10.31%. We used eight factors when gauging the cost of living. Home insurers base rates on risk. Cost of living in Dallas, Texas is 9% more expensive than in Houston, Texas. Lower numbers are better for cost of living. The calculator can also help if you’re looking to retire. Florida is around average for many cost factors. The more congested Northeast isn’t immune to substantial cost of living shifts either. For the past 15 quarters, Missouri has been in the top 10 for lowest cost of living in the nation. Remember -- Texas is a vast state. Check out Insure.com’s Cost of Living Calculator. Parts of Manhattan are often the most expensive places to live in the U.S. Much like with Texas and California, you’ll want to dig deeper into the costs for specific areas when deciding on a move to New York. Cost of Living scores and indexes are a way to compare the overall price of goods and services between different areas of the United States. Salary.com's Cost of Living Calculator lets you compare the cost of living and salary differentials State to State or over 300+ US cities. This Cost of Living Calculator helps you to gain information about the after tax income that will be needed to maintain your current standard of living while moving to a new place. A 100 “avg CoLI” is the average cost of living for the entire country. You’ll pay less to live in Texas than other areas, including housing, auto insurance and transportation. Median household income: $44,765 Weather-related claims, such as hurricanes, fires and break-ins lead to higher costs. Chisinau is 17.56% more expensive than Lviv. Cost of Living Data Series. Visit FEDERAL COST OF LIVING INDEX to obtain a state by state measure of living expenses for area residents, as compared to living expenses in other states, and to the national average. Conversely, Harlingen, Texas, is 23.5 percent lower than the national average. The state with the seventh-lowest cost of living is Michigan, with an index of 89.6. Suggested comparisons. Overall, New York has the fourth-highest cost of living. Overall, the cost of living is less than the average area. Use this cost of living calculator to compare the cost of living between U.S. cities and determine if you will be able to maintain your current standard of living in another city Determine if you could maintain your current standard of living in a different city. Compare the cost of living in two cities using the CNNMoney Cost of Living calculator. The average home value is in the hospitality state is $112,000. Mississippi has the lowest cost out of living of all 50 states. In other words, your cost of living ⦠It’s not only housing that costs more in the state. Federal Cost of Living Index. Compare the cost of living in two cities using the CNNMoney Cost of Living calculator. Home insurance and other costs vary. There is an exception, though. Texas, United States. When asked for their biggest motivation to move to a higher cost of living area, respondents went with a higher salary: Eleven percent said they wouldn’t move to a higher-cost area regardless. This page also provides helpful information on average housing costs in every U.S. state. Hawaii has the highest average housing costs by far. USD. Cost of Living Index in Major Cities 186.08% 156.10% 111.58% 114.98% 151.00% 180.43% 97.34% San Francisco, CA Washington, DC Miami, FL Chicago, IL Boston, MA New York, NY Dallas, TX 0.00% 50.00% 100.00% 150.00% 200.00%. A cost of living index allows you to directly compare what it costs to live in one area against another, helping you understand how far your money can go in each place. See what you'll need to earn to keep your current standard of living wherever you choose to work and live. New York has the New York City area, Long Island and Westchester County, which all have high costs. Cost of living in North Carolina vs. New York. With a cost of living index below 90, fairly affordable home prices, and no shortage of summer activities, this state is ideal for retirement. The numbers shown below indicate a state's ranking, as compared to other states, in terms of cost of living (COL) during the years 2013, 2014, 2017, and 2020. The higher the cost of living in a state, the harder it is for people of similar means with those in other states to make ends meet. Use Salary.com's Cost of Living Calculator to easily compare the cost of living in your current location to the cost of living in a new location. Here are the median household incomes, regional price comparisons, and real salary values in each U.S. state. Hawaii is the most expensive place to live in the U.S. One of the biggest factors in an area’s cost of living is housing costs. Cost of Living Comparison and Salary Calculator The cost of living is usually captured in what is known as the consumer price index or CPI. This map shows the real value of $100 in each state. Knowing what you’ll need to earn to maintain your lifestyle gives you critical information to see if it’s worth it to move to that area. The cost of living and average income can also vary considerably within a state, so your stateâs real salary may not reflect what workers in a specific city earn or pay to live. Under city #1, let us know the Zip code or city and state of your first opportunity â or where you're moving from. The Cost of Living Calculator lets you measure two areas side-by-side. Denver, CO is 10.31% more expensive than Louisville, KY. Sofia is ⦠The state of New Jersey has the highest number in the nation by 12.26%. To compare the cost of living in your current location to the cost of living somewhere else check out the Cost of Living Calculator or this cost of living Wizard by Salary.com. If you live in El Paso, you’ll likely pay lower home insurance rates than if you lived in Houston or Galveston, which can feel the brunt of hurricanes. can The cost of living in San Francisco is significantly higher than average, but you might be surprised to learn the exact cost is 91.4 percent higher than the national average. In general, the most expensive areas to live were Hawaii, Alaska, the Northeast, and the West Coast. ⦠Hawaii has about average auto rates and well below average home insurance costs. Oklahoma has the third-lowest cost of living index of 87. In general, the most expensive areas to live were Hawaii, Alaska, the Northeast, and the West Coast. Insure.com is a part of the Insurance.com family. Cost of living is the number one issue by far: Given those results, it’s not surprising that the biggest motivation in moving to a new area or state comes down to dollars. Overall, the average New Yorker pays more than double for housing than the average American. So, insurers consider houses in Hawaii low risk compared to places like Louisiana and Florida, which often get hit by major hurricanes. Rural areas usually have lower cost of living than suburban and urban areas. A state’s cost of living can be the difference between living comfortably or struggling to keep your head above water. Copyright © 2020 Insure.com. How much more or less I could afford there -- 44%, Cost of insurance, including auto and home -- 13%. A state like California or Hawaii has much higher rates than areas like Utah and Idaho. The tool enables you to see what you may need to earn if you move to specific areas. Mississippi costs are lower than the state average in every category except for home insurance costs. COMPARED TO. In essence, it’s what it costs to live. Auto insurance also costs more. When a user contributes a price, they select a city that the price corresponds to. Determine if you could maintain your current standard of living in a different city. The average Hawaii property goes for more than three times more than the national average. Florida has some of the highest home insurance rates. You’ll pay much more for insurance if you live in Florida. A cost-of-living index gives you the percentage of the difference between the cost of living in your current location and another area. This Cost of Living Calculator helps you to gain information about the after tax income that will be needed to maintain your current standard of living while moving to a new place. We aggregate prices users like you enter, creating a reliable and consistent data set of prices. The living wage in Arkansas is only $44,571. In a recent Insure.com survey of 502 people, we asked respondents what’s most important when moving to a new area. Compare50.org allows users to display trends on how one stateâs economy has performed over time, compared to other states, and to the United States as a whole. Parts of New York like Syracuse and Buffalo get walloped with snow, but overall the state doesn’t get many freak storms that lead to major damage. Mississippiâs cost of living ⦠That's where a cost of living calculator (like the one above!) By logging in or registering, you agree to our. There are cost of living indexes that compare cities, states, and countries. California, United States. Why? That doesn’t mean all parts of California are pricey. The cost of living calculator will calculate and compare any two cities in the United States so you know which city offers a more affordable standard of living. The least expensive areas were the Midwest and Southern states. Get a graphical comparison report on the cost of living, taxes, expenses, quality of life, climate, education, and other factors between any two states. Mississippi is the most affordable state to live in the U.S. with an overall cost of living of 86. Cost-of-Living Comparison and Index . This website does not include all of the products and services available nor all of the companies that offer them. However, The Empire State also includes more affordable areas like Albany, Rochester, Utica and Buffalo. Weather can also influence home rates. Our Cost of Living Calculator lets you compare the cost of living between two cities. Homes in regions that are more prone to extreme weather will pay higher rates than areas with calmer weather. Missouri had the 5th lowest cost of living in the United States for the 3rd quarter in 2020. Cost of living in New York City is about the same as in Zurich. Cost of living in Illinois vs. Virginia. The cost of living is all of your expenses, including homes, groceries, utilities and insurance. While housing is very affordable and 70% of residents own a home, Michigan has the ninth-highest property tax rate of 1.71%. Your dollar will likely go much further in places like Redding and Bakersfield than it will in San Francisco and Los Angeles. Other than that, Californians pay more for auto insurance, groceries, housing, utilities, transportation, health care and miscellaneous goods. We use the Consumer Price Index (CPI) and salary differentials of over 300+ US cities to give you a comparison of costs and salary. We average the cities within each state to build this comparison. Our Cost of Living Calculator lets you compare the cost of living between two cities. Combined, they contributed more than half of the final result for an area’s cost of living. Use the cost of living comparison calculator below to compare the cost of living in two cities. Missouri had the 5th lowest cost of living in the United States for the 3rd quarter in 2020. Mississippi. A prospective job may be willing to increase your salary by $10,000, but will that extra money go far in a new area? USD. You can also check out the Places Rated Almanac which compares most major cities in every conceivable way including climate, educational facilities, sports teams, cultural advantages etc. The state also scores well for healthcare (89.9) and utilities (89.6). That means a state like Mississippi with a 85.76 average CoLI is under the average the national average. Amsterdam is 19.81% more expensive than Berlin. We then rank the states by those results. One example is Texas. Select two US states below to see a price comparison based on a variety of indicators, including restaurants, groceries, clothing, transportation, and more. Signing in allows you to ask questions in our community, contribute to our cost of living database, and more. Cost of Living by State. Therefore, if a city has a Price Index of 134, that means that living there is 34% more expensive than living in Prague. Or is it better to stay put with lower pay in an area with a lower cost of living? You can search by your zip code and compare it to other areas through our Cost of Living Comparison Tool. You’ll want to keep that in mind if you decide to move to Florida. Floridians pay more for home insurance because of the area’s weather and claims history. We gave miscellaneous goods and services (30%) the biggest influence, followed by housing (29%). Cost of living indexes let you compare basic expenses in different regions. We analyzed eight factors when gauging the cost of living: We weighed them in order of importance and impact on an area’s cost of living. The stateâs cost of living is 17th-lowest in the nation, ... the best rates and start earning more interest on your savings by using the Money Talks News savings and CD account comparison tool. Mississippi is the cheapest state in terms of cost of living. Compare Data For All 50 States. Overall, Florida has the 29th cheapest cost of living, so it's in the middle of the road. Measurement indexes are generally used as a baseline for comparisons. Yes, a condo in New York City or a home in Westchester County will cost you top dollar. Iowa ranks first in the nation for affordability. Texas is the 19th least expensive state in terms of the cost of living. Cost of living in New Jersey vs. Ohio. Missouri. Insurance companies base auto and home premiums on risk. Compare the Cost of Living in State College, Pennsylvania against another US Cities and States. The national average is 100, so when you look at a placeâs COL Index you can instantly see how much more or less youâll have to pay to live there. You can search by your zip code and compare it to other areas through our Cost of Living Comparison Tool. Disclaimer: The products and services that appear in the advertisement section of this website on this page are offered by companies from which QuinStreet may receive compensation. Insure.com offers a way to compare multiple area’s cost of living. See what you will need to make to keep your current standard of living. Cost of living in Austin, Texas is about the same as in Orlando, Florida. A comparison of the Cost of Living indexes across major US Cities compared to the national average. Beautiful weather usually means fewer weather-related home insurance claims. On the other side, Mississippi, Tennessee and New Mexico ⦠Home insurance costs are lower for California than the average. All Rights Reserved. However, areas in upstate New York are much more affordable. Missouri offers fairly affordable living and a variety of environments, from rural to urban. Even metro areas within the same state vary. However, the cost of living varies by region within a state, too. Explore Data State-by-State on the Economy, Jobs, Innovation, Equity, Income, Community and Government. Let us help you make an informed decision about what it will cost to live and work in the city of your dreams! You may know that housing and groceries play a role in cost of living, but you might not know that insurance also has a part. However, you’ll fork over more money for home insurance and slightly more for utilities. Cost of living in Massachusetts vs. Michigan. Cost of Living by State. The average homeowner pays more than double for home insurance than the average American. Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of living to the cost of living in Prague. Instead, dig deeper into the numbers to gauge specific regional costs. Cities like Houston, Dallas, El Paso, San Antonio, Austin, Amarillo and Beaumont are all proudly Texan, but the cost to live in each varies. Take a look at the states ranked by cost of living (from lowest to highest), according to U.S. News: Iowa; Ohio; Indiana; Oklahoma; Michigan; Nebraska; Missouri; West Virginia; Kansas; Pennsylvania; North Dakota; Arkansas Hawaii is known for its perfect weather. The state is a popular destination for people in northern states during their retirement years. Ohio places second in this subcategory, followed by Indiana, Oklahoma and Michigan. See what you will need to make to keep your current standard of living. So, don’t just take the state averages as a reason to move to Texas. Various cost of living categories are taken into consideration, including: groceries, housing, utilities, transportation, goods & services and health care. Also, “%Up/down national” represents how much higher and lower a state is compared to the national average. The median home price in Michigan is $151,400 and the average rent for a two-bedroom apartment is $885 per month. Alabama. . Are the other cities on your list more or less affordable than your current home? It's easy, quick, and won't cost you a penny. While the average monthly rent for a house is $1,050, and the average monthly rent for a two-bedroom apartment is $727 which is $300 less than the national average. For the past 15 quarters, Missouri has been in the top 10 for lowest cost of living in the nation. Adelaide is 13.90% more expensive than Montreal. You’ll likely pay more for coverage in The Sunshine State than elsewhere. So, don’t write off an entire state if it has an overall high cost of living. Housing, transportation, and healthcare are particularly lower in Arkansas than in other parts of the country. The Aloha State also has much higher utilities and grocery costs. Only Hawaii and the District of Columbia have a higher cost of living than California. Use this easy calculator to compare how much cost of living index differs from one place to other. The states and area with the highest cost of living are Hawaii, the District of Columbia and California. If you're considering moving to another town or city you may be wondering what salary you'd need to maintain your standard of living in the new location. We’ve compiled the data from multiple sources to figure out the cost of living for each area. You can see the costs associated with: The tool tells you which area’s cost of living is higher. Our compare cities tool is just like our city profiles report except that you can compare two cities side by side. Explore more about the most affordable states below. Recent Comparisons: Rome is 1.63% more expensive than Genoa. Housing (68.4) is the country's cheapest. If you just want the scoop on which states have the lowest and highest cost of living, weâve got you covered. Cost of living in North Carolina vs. California, Cost of living in Michigan vs. New Jersey. Goods and services and housing topped the list. The more prices that are entered, the more reliable the comparisons become. It also provides a salary you’ll need to maintain your current standard of living. Hurricanes often strike the state -- whether along the east coast, west coast or the panhandle. On the other side, Mississippi, Tennessee and New Mexico have the lowest cost of living. Make sure you gauge the specific area to see its cost of living. Hence, lower home insurance rates than other states. Cost of living in Texas vs. California. Compensation may impact where they appear, including the order in which they appear. You may save in one area though -- home insurance. Get a graphical comparison report on the cost of living, taxes, expenses, quality of life, climate, education, and other factors between any two states. Cost of living. Gauging an area’s cost of living is a crucial factor when figuring out where to live. Major cities, like New York City, have a higher cost of living than smaller cities, like Albany. Here are the average cost of living for each state. Texas is prone to hurricanes, which means higher home insurance rates. Other factors included groceries (13%), transportation (9%), utilities (9%), health care (4%), auto insurance (2%) and home insurance (2%). Across the United States, the cost of living fluctuates, as prices for the same goods may be cheaper in some areas—such as rural parts of Arkansas or South Dakota—than in large cities in states like New York or California. On the flip side, Hawaii is 198.49, which means it’s well over the national average. The cost of living is especially important when switching jobs. Hawaii is the most expensive state for cost of living. Cost of living in San Jose, California is 48% more expensive than in Cincinnati, Ohio. States ranked by cost of living list. CALIFORNIA, UNITED STATES. The states and area with the highest cost of living are Hawaii, the District of Columbia and California. 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