Before you move, whether for a job or another reason, knowing just how far your income will take you when factoring in the cost of living is helpful.
Many factors go into calculating the cost of living, but housing is a central point. In areas of the country—particularly on the coasts—where land is scarce, but many people want to live, increased demand puts more pressure on housing prices and apartment rents.
Costs are high in Alaska and Hawaii primarily due to their remote locations, making it more expensive for stores to ship essential goods.
The cost of heating a home in Maine can be an expensive prospect. More than 6 in 10 Mainers use fuel oil, the most costly heating option in the country, and prices can be volatile depending on supply and demand.
Apartment rents in New Jersey have spiked, particularly in Jersey City. Many New Yorkers have relocated across the Hudson River to this city for more space with the same urban feel and relative accessibility to New York.
High-paying jobs in Oregon also come with higher costs. Housing prices have increased 30.5% from 2010 to 2020 due to high demand and low supply, per a 2021 report from Filterbuy.