As we go into 2023, many Americans are wondering, “How much does it really cost to live in the United States?” In our ever-changing economic landscape, influenced by factors such as inflation, housing markets, and regional variations, the cost of living remains a pressing concern for individuals and families alike.
To really understand the nation’s economic variety, Scholaroo embarked on a comprehensive journey, exploring the average monthly expenses for each state. We’re here to uncover the financial realities that Americans face on a daily basis, from the most affordable to the most expensive places to live.
So, come along as we dig into the complex world of Living Expenses.
How Much Do Americans Spend Each Month?
1. Mississippi – $1,111
Mississippi boasts the lowest living expenses in the U.S., with an average monthly spend of $1,111. Known for its affordable housing and relatively lower costs for everyday necessities, Mississippi offers a budget-friendly lifestyle.
2. South Dakota – $1,113
South Dakota follows closely behind with an average monthly expense of $1,113. The state’s low population density contributes to affordable housing and lower transportation costs.
3. Arkansas – $1,144
With living expenses averaging $1,144 per month, Arkansas is an attractive option for those seeking a cost-effective lifestyle. The state’s affordable housing market and reasonable costs of goods and services make it a budget-friendly choice.
4. West Virginia – $1,149
West Virginia ranks fourth with an average monthly spend of $1,149. The state’s picturesque landscapes and low living costs make it an appealing destination for those looking to stretch their budget.
5. Ohio – $1,183
Ohio rounds out the top five with living expenses averaging $1,183 per month. A diverse range of cities and communities offers various cost-of-living options within the state.
6. Alabama – $1,184
Alabama closely follows Ohio, with an average monthly expense of $1,184. The state’s affordability extends to housing and everyday goods and services, making it an attractive choice for residents.
7. Oklahoma – $1,185
Oklahoma ranks seventh, with living expenses averaging $1,185 per month. The state offers a mix of urban and rural living options, accommodating various budgets.
8. New Mexico – $1,196
New Mexico’s living expenses come in at $1,196 per month, ranking it eighth. The state’s unique culture, stunning landscapes, and affordability make it a unique place to call home.
9. Idaho – $1,211
With an average monthly expense of $1,211, Idaho offers a comfortable lifestyle with a lower cost of living. The state’s natural beauty and outdoor activities are additional draws.
10. Montana – $1,230
Montana, with living expenses at $1,230 per month, offers a blend of affordability and access to breathtaking natural landscapes. It’s a paradise for outdoor enthusiasts.
11. Missouri – $1,237
Missouri ranks 11th, with an average monthly spend of $1,237. The state’s diverse cities and affordable housing options make it an appealing choice.
12. Kentucky – $1,238
Kentucky closely follows Missouri, with living expenses averaging $1,238 per month. The state offers a mix of urban amenities and rural charm.
13. Louisiana – $1,240
Louisiana ranks 13th, with living expenses at $1,240 per month. The state’s rich culture and affordable lifestyle attract residents from various backgrounds.
14. Iowa – $1,253
Iowa’s average monthly expenses are $1,253, making it the 14th most affordable state to live in. The state’s friendly communities and diverse landscapes add to its appeal.
15. Indiana – $1,255
Indiana offers an average monthly expense of $1,255, ranking it 15th. The state’s affordability is complemented by its vibrant cities and cultural offerings.
16. North Dakota – $1,256
North Dakota comes in 16th, with living expenses averaging $1,256 per month. The state’s strong economy and opportunities for outdoor recreation make it an attractive choice.
17. Wyoming – $1,262
Wyoming boasts an average monthly expense of $1,262, ranking it 17th. The state’s wide-open spaces and relatively low costs appeal to those seeking a simpler lifestyle.
18. Nebraska – $1,268
Nebraska’s living expenses come in at $1,268 per month, ranking it 18th. The state’s friendly communities and affordable housing options make it an appealing destination.
19. South Carolina – $1,304
South Carolina ranks 19th, with an average monthly spend of $1,304. The state’s coastal beauty, historic cities, and moderate costs make it an attractive place to live.
20. Wisconsin – $1,320
Wisconsin offers an average monthly expense of $1,320, ranking it 20th. The state’s natural beauty and vibrant culture contribute to its charm.
21. Michigan – $1,321
Michigan closely follows Wisconsin, with living expenses averaging $1,321 per month. The state’s Great Lakes, diverse cities, and lower costs make it an appealing choice.
22. Tennessee – $1,326
Tennessee ranks 22nd, with an average monthly expense of $1,326. The state’s music culture, scenic landscapes, and affordability make it a popular destination.
23. North Carolina – $1,328
With an average monthly spend of $1,328, North Carolina offers a diverse lifestyle. The state’s coastal cities and mountainous regions provide various living options.
24. Kansas – $1,353
Kansas ranks twenty-fourth with living expenses averaging $1,353 per month. The state’s friendly communities and reasonable costs make it an attractive choice.
25. Vermont – $1,353
Vermont follows closely with an average monthly spend of $1,353. The state’s scenic beauty and outdoor recreation opportunities are complemented by its affordability.
26. Pennsylvania – $1,367
Pennsylvania residents have an average monthly expense of $1,367. The state’s mix of cities and rural areas offers a diverse living experience.
27. Maine – $1,382
Maine boasts living expenses that average $1,382 per month. The state’s stunning coastline and lower living costs make it a captivating place to live.
28. Georgia – $1,411
With an average monthly spend of $1,411, Georgia offers a vibrant lifestyle. The state’s mix of urban centers and scenic landscapes provides diverse living options.
29. Arizona – $1,436
Arizona ranks twenty-ninth, with living expenses averaging $1,436 per month. The state’s desert beauty and reasonable costs make it an appealing destination.
30. Minnesota – $1,440
Minnesota residents enjoy living expenses that average $1,440 per month. The state’s natural beauty and strong communities contribute to its high quality of life.
31. Texas – $1,457
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Texas boasts an average monthly expense of $1,457. The state’s diverse cities, job opportunities, and affordability make it a popular choice.
32. Utah – $1,473
With living expenses averaging $1,473 per month, Utah offers a mix of outdoor adventure and urban living. The state’s affordability is complemented by its natural beauty.
33. Illinois – $1,476
Illinois ranks thirty-third with an average monthly spend of $1,476. The state’s cultural offerings, along with its urban centers, provide various lifestyle choices.
34. Nevada – $1,515
Nevada residents have an average monthly expense of $1,515. The state’s vibrant entertainment scene and lower living costs make it a unique destination.
35. Rhode Island – $1,516
Rhode Island follows closely with living expenses averaging $1,516 per month. The state’s coastal charm and proximity to major cities offer a diverse lifestyle.
36. Florida – $1,571
With an average monthly spend of $1,571, Florida offers a mix of beachside living and urban culture. The state’s affordability attracts retirees and families alike.
37. Oregon – $1,595
Oregon boasts living expenses that average $1,595 per month. The state’s natural beauty, outdoor activities, and vibrant cities make it a captivating place to live.
38. Connecticut – $1,640
Connecticut ranks thirty-eighth with living expenses averaging $1,640 per month. The state’s proximity to major metropolitan areas contributes to its higher living costs.
39. New Hampshire – $1,640
New Hampshire closely follows with an average monthly spend of $1,640. The state’s New England charm and outdoor opportunities are balanced by its living expenses.
40. Delaware – $1,681
Delaware residents have an average monthly expense of $1,681. The state’s coastal beauty and favorable tax policies make it an attractive destination.
41. Alaska – $1,703
With living expenses averaging $1,703 per month, Alaska offers a unique frontier lifestyle. The state’s remote location and high costs are offset by its natural wonders.
42. Virginia – $1,707
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Virginia ranks forty-second with an average monthly spend of $1,707. The state’s historical significance and proximity to Washington, D.C., contribute to its living expenses.
43. Colorado – $1,783
Colorado residents enjoy living expenses that average $1,783 per month. The state’s stunning landscapes, outdoor activities, and thriving cities make it a sought-after destination.
44. New York – $1,785
New York closely follows with an average monthly spend of $1,785. The state’s iconic cities and cultural offerings come with higher living costs.
45. New Jersey – $1,813
New Jersey boasts living expenses that average $1,813 per month. The state’s proximity to major cities and coastline make it a desirable place to live.
46. Massachusetts – $1,836
Massachusetts ranks forty-sixth with an average monthly spend of $1,836. The state’s historical significance, education institutions, and urban centers contribute to its living expenses.
47. Washington – $1,842
Washington residents have an average monthly expense of $1,842. The state’s stunning natural beauty, technology industry, and urban lifestyle options are balanced by its living costs.
48. Maryland – $1,871
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Maryland follows closely with living expenses averaging $1,871 per month. The state’s proximity to major metropolitan areas like Washington, D.C., contributes to its higher living expenses.
49. California – $2,058
California, known for its beautiful coastline and vibrant cities, has the 49th highest living expenses in the U.S., averaging $2,058 per month. The state’s high housing costs contribute significantly to this ranking.
50. Hawaii – $2,195
Hawaii tops the list with the highest living expenses at an average of $2,195 per month. The state’s remote location, limited resources, and high demand for goods contribute to its elevated costs of living.
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A Dime Saved
Hi! I am a millennial mom with a passion for personal finance. I have always been “into” personal finance but got inspired to start my blog after a period of extended unemployment. That experience really changed the way I viewed my relationship with money and the importance of accessible personal finance education.