We all like to dream about flying in private planes, driving around in limousines, and having our own personal, professional teeth floss-ers.
Well maybe I’m the only one that dreams of the last one (it would only set you back about $20-30k a year. Not bad if you have Taylor Swift money).
But for some parts of the country, saving enough money to ever do one of these things once is a pipe dream. These are the states where just getting by on a day to day basis is so expensive you can barely save for tomorrow.
What parts you may ask?
Well the general answer would be any coastal state, but in participle California and Hawaii are head and shoulders above the rest.
And for those playing at home, a living wage in the San Francisco Metro clocks in a staggering $78,386.
The data for this analysis comes from the MIT living wage. So if one of the top research universities in the world says you’re expensive, you’re real expensive.
For exactly how we calculated these rankings, read on. Or if you’re so rich you do not care about this list, check out:
How We Determined The Most Expensive States In America
When we at HomeSnacks normally measure how expensive a place to live is we check in on whats called a cost of living index. That analyzes the costs of goods in basket of things like housing, milk, utilities, and gas across the country.
But for this analysis we had an even better source — MIT’s Living Wage data.
The team at MIT compiles the best set of geographical data on what a family of various sizes can realistically expect to spend to live a decent life each year. Not super comfy, but not in poverty.
In particular they look at the cost of the following items:
- Child Care
- Other Personal Necessities
They just updated their data at the end of 2017, so we can take a fresh look at it.
Specifically, this analysis uses their average required wage for two adults and one child in every states. We ranked the living wage from highest to lowest with the highest being most expensive.
The highest state, California, was crowned the most expensive state to live in America for 2018. (Although DC would like to have a word if you consider that a state.)
Here’s a look at the top ten.
Living Wage: $66,019
Child Care: $8,421
After living in California for 8 years, I’m not surprised to see it at the top of this list.
We moved about 5 years ago and our apartment in San Francisco now costs 2x as much as it used it. It’s insane.
But we don’t use intuition for these rankings, we use data. And the MIT data shows California will set you back over $66k a year to live semi comfortably.
2. New York
Living Wage: $65,820
Child Care: $10,742
The 2nd most expensive state in the nation would be the California of the east coast — New York.
Now that I just pissed everyone from New York by calling it that, I can tell you that the living wage there only comes in $200 less than California. That’s like a sandwich at Katz deli every day for 2 weeks.
God those are delicious and expensive, just like New York generally.
Living Wage: $64,929
Child Care: $12,536
Massachusetts likes to think of itself as the smartest state in the country with all of to fancy institutions (Looking at you MIT data people), but all those smarts cost a lot apparently.
Massachusetts clocks in atlas the third most expensive state in the country.
I guess all you need for a good education is money.
Living Wage: $64,765
Child Care: $8,564
With Maryland we start to see a trend that’s gonna continue for the majority of the rest of the list — the good part of the east coast (the not southern states) cost a heck of a lot to live in.
With jobs a plenty in DC and access to the northeast corridor, Maryland’s high cost of living is offset by higher salaries.
Except for Baltimore. No one wants to live there I hear.
Living Wage: $63,855
Child Care: $10,577
Welcome to the land of hedge funds and people that commute to New York City — the wonderful state of Connecticut.
While they aren’t crashing into deer or eating nutmeg, they pay a ton for housing and child care.
6. New Jersey
Living Wage: $63,400
Child Care: $8,980
Ahh the chosen land — New Jersey. Having grown up there I can attest first hand that it’s super expensive.
That’s probably because everyone wants to live there seeing as how it’s the best state in the union.
While that may just be my not very humble opinion, the facts say you better be making over $63k a year here to avoid having to eat Wawa everyday (which wouldn’t be the worst thing).
Living Wage: $61,817
Child Care: $8,538
I guess we can let Virginia be an honorary northern state for this ranking seeing as how it’s actually expensive to live there.
That being said, it’s expensive because of the proximity to DC to the Northern States, obviously. You gotta pay for the right to be close to them right?
That and housing it seems.
Living Wage: $60,815
Child Care: $10,217
In all honesty, I figured Alaska would have been fighting with California the top spot. Alas, people here are too busy fighting bears to fight for the top spot in our most expensive state analysis.
Instead, they’ll have to settle for an 8th place finish mostly because no one really wants to live there — the housing costs aren’t nearly as high as places like…
Living Wage: $60,784
Child Care: $708
How the heck did an island in the middle of nowhere that everyone dream about living in slip down to the ninth spot on this list??
Well, unlike Alaska, housing cost here are volcanoes high beating the second closest California by $3,000 year (or about 3.5 average Trump tax cuts).
So I take it people are willing to put up with the high price of food and toilet paper and basically everything for that whole island living thing.
Living Wage: $60,767
Child Care: $9,253
And rounding out the top ten is a state I would never have even thought of for this list — Colorado.
The state seems to be kinda in the top quintile for everything without having any one cost stick out. I guess child care is relatively expensive compared to other states in the country.
Still a big surprise to me to see them here on this list.
There You Have It — The Most Expensive States In America To Live
After all the dust settled and the analysis was over, we crowned California as the most expensive state to live in America for 2018.
When you stop to think about it though, being expensive is probably a good thing — it means people must really want to live there and the economy is doing well. So even though it might be 30% cheaper in Mississippi, I doubt anyone is going to be moving there from California.
Here’s a quick look at the cheapest states in America:
- South Dakota
For more reading, check out:
Detailed List Of The Cheapest States In America