To spend a luxurious way of life is one of the desires of every person and several places in the world offers the highest living standards and considered as most expensive one all around the globe. The most expensive states to live in America because of the cost of living rank which has been determined by calculating overall economic development, quality of life, education and health development, business offering, and technological advancement.
When we talk about the cost of living it also includes the cost of home and grocery per unit for a day which is collectively called the living cost for a day of an individual. With time the cost of living rank has changed and different American states are becoming the top expensive states to live in.
Top 10 Most Expensive States to Live In America 2023
The list given of the most expensive states to live in America has been arranged based on the most recent and updated statistics.
The New England state in the northeastern United States Vermont is one of the smallest and least populous in all of the States in America. One of the most expensive states to live in is America Vermont has been considered among the best states to initiate business having a stagnant economy with a very low rate of unemployment.
The Green Mountain State economy is based on agriculture and manufacturing while the state offers the best quality services related to health and education which have greater value in the life of every person.
Cost of Living rank: No. 41 (10th most expensive)
Average home price: $485,749
Half gallon of milk: $2.79
A pound of ground beef: $4.56
Monthly energy bill: $234.61
Doctor visit: $113.84
9: Rhode Island
Rhode Island is another one of the most expensive states in New England which stands among the least populous and most densely populated regions in the United States. The largest industries of Rhode Island include Health services, tourism industry, manufacturing, and agriculture while it is home to the largest employers in the country.
The cost of living rank of one of the smallest states is 42 which it has been considered one of the most expensive states to live in America. Rhode Island offers a quality of life and a high standard of living with great opportunities for doing business having technological and innovative development.
Cost of Living rank: No. 42 (9th most expensive)
Average home price: $392,340
Half gallon of milk: $3.39
A pound of ground beef: $4.49
Monthly energy bill: $213.54
Doctor visit: $149.00
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Massachusetts is a state in the New England region of the northeastern United States which is the most densely populated in all fifty states of America while the most populous of the six New England states has the highest GDP per capita among all six states.
The mainstream business of Massachusetts fishing, agriculture, and trade and manufacturing follow the Industrial Revolution which later shifted to services in the 20th century. Massachusetts is an international economic leader in life science, finance, IT, trade, energy, and defense industry and one of the most expensive states to live in America.
Cost of Living rank: No. 43 (8th most expensive)
Average home price: $525,300
Half gallon of milk: $2.29
A pound of ground beef: $4.49
Monthly energy bill: $292.18
Doctor visit: $151.00
Located in the Pacific Northwest of America Oregon is one of the states having a coastline on the Pacific Ocean of the contiguous United States.
The American state is one of the most expensive states in the United States to live in, the state was originally dependent on agriculture and fisheries while tourism is also a strong industry in the state because of the various breathtaking sites and locations to visit in the state. The technologically advanced state has seen more employment opportunities and growth in the last few decades following the continuous development in all of its industries.
Cost of Living rank: No. 44 (7th most expensive)
Average home price: $436,750
Half gallon of milk: $1.97
A pound of ground beef: $4.65
Monthly energy bill: $151.02
Doctor visit: $131.85
6: New Jersey
The state in the Northeastern and Middle Atlantic regions New Jersey is the fourth-smallest state in the United States and most densely populated in all of the fifty states. The second-wealthiest state of America concerning median household income has seen several decisive battles during the American Revolutionary War in the past and afterward, with rapid growth in the region making it a highly developed and the most preferred location.
Though, New Jersey is among the most expensive states in America and also worldwide having a high cost of living and other necessities of routine life.
Cost of Living rank: No. 45 (6th most expensive)
Average home price: $521,274
Half gallon of milk: $2.62
A pound of ground beef: $4.32
Monthly energy bill: $156.79
Doctor visit: $101.25
The most populous state of the United States California with more than 38 million people covers an area of 163,696 sq mi bordered by Oregon, Nevada, Arizona, and the Mexican state around the corners.
The American state is among the top most expensive states in the United States to live in which relied on Finance, Government and Professional, Real Estate, Scientific, and Technical Business Services making it among the states having the largest economy in the world. California is truly dependent on trade and international-related commerce accounts while agriculture is also an important sector of its overall economy.
Cost of Living rank: No. 46 (5th most expensive)
Average home price: $946,066
Half gallon of milk: $2.77
A pound of ground beef: $3.97
Monthly energy bill: $213.39
Doctor visit: $127.57
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Situated in the northwest extremity of the North American continent Alaska is the largest state in the United States by area which is dependent on oil, natural gas, and fishing industries while tourism has also a significant impact on its economy.
The least densely populated region became the part of United States and was later admitted as the 49th state after it has been purchased from the Russian Empire in 1867. One of the most expensive states of living in the United States Alaska has long been a higher cost of living than in the contiguous 48 states and suffers from extremely high prices for food and consumer goods.
Cost of Living rank: No. 47 (4th most expensive)
Average home price: $528,673
Half gallon of milk: $2.37
A pound of ground beef: $5.27
Monthly energy bill: $591.16
Doctor visit: $169.40
3: New York
New York is a state placed in the Northeastern and Mid-Atlantic regions which is famous for having several landmarks making it one of the most visited destinations all over the world. The state is among the most expensive in the United States to live in because of the high cost of living while it is considered a symbol of America and its ideals of freedom, democracy, and opportunity.
New York City is the most populous city in the United States and an important center for international diplomacy it has been cited as the cultural and financial capital of the world and the most economically powerful city all around the world.
Cost of Living rank: No. 48 (3rd most expensive)
Average home price: $1,372,183
Half gallon of milk: $1.92
A pound of ground beef: $4.46
Monthly energy bill: $259.80
Doctor visit: $122.50
The southernmost state in the region of the United States Connecticut is the third smallest state by area and the second most expensive state to live in America. According to the latest statistics Connecticut has the highest per-capita income and is ranked among the top states on Human Development Index having the high median household income in the United States.
Finance and insurance are the leading industries of Connecticut along with manufacturing business while it is home to major employers like The Hartford, Travelers, Mass Mutual, Aetna, Cigna, People’s United Financial, and Royal Bank of Scotland among various others.
Cost of Living rank: No. 49 (2nd most expensive)
Average home price: $618,800
Half gallon of milk: $2.26
A pound of ground beef: $3.99
Monthly energy bill: $262.56
Doctor visit: $123.75
The most expensive states to live in the United States is Hawaii which has been located in Oceania and is composed entirely of islands having natural scenery, tropical climate, beaches, and oceanic surroundings making it the most popular and visited destination of tourists in the world.
The cost of living in Hawaii can be compared to top-ranked cities in America because of several reasons which played significant roles in higher overall cost. Hawaii’s economy depends on sandalwood, whaling, sugarcane, pineapple, military, tourism, and exports including coffee, macadamia nuts, pineapple, and livestock, among others.