1. Hawaii
- Median Home Price: $975,500
- Cost of Living Index: 193.3 (highest in the U.S.)
- Key Drivers: Extremely high housing costs (315% of the national average), elevated prices for groceries and utilities due to shipping expenses, and limited land availability.
2. California
- Median Home Price: $866,100
- Cost of Living Index: 142.2
- Key Drivers: Severe housing shortages, particularly in coastal cities like San Francisco and Los Angeles, leading to high housing costs. Transportation and utility expenses are also significantly above the national average.
3. District of Columbia (Washington, D.C.)
- Median Home Price: $920,000
- Cost of Living Index: Approximately 152
- Key Drivers: High housing costs, with a median home price of $920,000, and elevated expenses for goods and services contribute to the high cost of living.
4. Massachusetts
- Median Home Price: $749,900
- Cost of Living Index: Approximately 135
- Key Drivers: High housing costs, especially in the Boston area, along with above-average expenses for healthcare and utilities.
5. New York
- Median Home Price: $576,100
- Cost of Living Index: 148.2
- Key Drivers: Significant housing costs, particularly in New York City, where median home prices exceed $1 million. High taxes and transportation expenses also contribute.
6. Alaska
- Median Home Price: $400,500
- Cost of Living Index: Approximately 125
- Key Drivers: Remote location leads to high costs for goods and services, including groceries and healthcare.
7. Washington
- Median Home Price: $658,700
- Cost of Living Index: Approximately 134
- Key Drivers: High housing costs, especially in the Seattle area, and elevated expenses for transportation and healthcare.
8. New Jersey
- Median Home Price: $526,500
- Cost of Living Index: Approximately 125
- Key Drivers: High property taxes, expensive housing, and elevated costs for healthcare and transportation.
9. Maryland
- Median Home Price: $496,500
- Cost of Living Index: Approximately 124
- Key Drivers: High housing costs, particularly in areas near Washington, D.C., and above-average expenses for groceries and transportation.
10. Vermont
- Median Home Price: $388,000
- Cost of Living Index: Approximately 120
- Key Drivers: High housing costs relative to income, along with elevated expenses for healthcare and utilities.
📊 Summary Table
| Rank | State/D.C. | Median Home Price | Cost of Living Index |
|---|---|---|---|
| 1 | Hawaii | $975,500 | 193.3 |
| 2 | California | $866,100 | 142.2 |
| 3 | District of Columbia | $920,000 | ~152 |
| 4 | Massachusetts | $749,900 | ~135 |
| 5 | New York | $576,100 | 148.2 |
| 6 | Alaska | $400,500 | ~125 |
| 7 | Washington | $658,700 | ~134 |
| 8 | New Jersey | $526,500 | ~125 |
| 9 | Maryland | $496,500 | ~124 |
| 10 | Vermont | $388,000 | ~120 |
These rankings highlight the significant impact of housing costs on the overall cost of living in these states. Factors such as limited housing supply, high demand in urban areas, and additional expenses like transportation and healthcare contribute to the elevated living costs.
