The year 2022 has not been a pleasant one for many reasons. While the world has put the worst of the pandemic behind it for the most part, the road to normality is still littered with hurdles, in the United States too.
Having been forced into a completely lockdown for two years, several countries are in the midst of supply-chain issues, with everyday products much harder to find at your local supermarket.
However, the bigger issue is the rise in gas prices. Not only is there a greater demand for gas around the world, Russia’s invasion of Ukraine and the sanctions that followed have also contributed greatly towards the soaring price of gas.
This has directly impacted inflation with the inflation rate in the United States currently pegged at 8.2 percent for the month of September, which also represents a 40 year high.
A higher rate of inflation means greater living costs, with Americans across the nation, especially those from low-income households greatly affected.
That said, residents from certain states face greater financial burdens than others, with these five states the most expensive to reside in.
Top 5: Which US state has the highest cost of living?
1. Hawaii
With a cost of living index score of 189.9 Hawaii is the most expensive state to live in right now. Groceries alone are 50 percent more expensive than the country’s average though poverty remains low.
2. Washington, D.C.
The capitol is second on this list due to its prohibitively high housing costs. Land in DC costs 1.2 million dollars per acre on average.
3. Massachusetts
While the rate of poverty in the state is one of the lowest around, Massachusetts still has cost of living index score of 147.9, with housing costs exorbitantly high.
4. California
With a cost of living index score of 139.8 California is fourth on this list. Much like New York housing is a significant expense in the Golden State, though transport, groceries, and utilities also add to the cost.
5. New York
The state of New York is the fifth most expensive state to live in in the United States, with New York City a large contributor to this fact. The city has skewed housing prices in the state as the cost of housing outside the Big Apple remains relatively affordable.
