HONOLULU (KHON2) — Thinking of moving to Hawaii this summer? Well, you might want to consider how expensive it is to live and maintain a certain kind of lifestyle.
A new study by World Population Review ranked the states with the highest and lowest cost of living. They report the cost of living is regularly used to compare how expensive it is to live in one location compared to another.
In other words, it is the amount of money needed to sustain a certain standard of living by affording basic expensive like food, housing, healthcare and taxes.
Cost of living is one to the biggest factors people consider when they are ready to move to a new, city, county, or state. Sometimes the cost of a new location can be overlooked when there is a healthy job market, good school systems and plenty of family attractions.
In their study Hawaii was ranked as the most expensive state to live in the United States. The average single family home price in Hawaii is well over $1 million dollars and the average monthly energy bill is $388.65.
Because food, clothes, and other household items get shipped across the Pacific ocean to the islands the cost to maintain a simple lifestyle is more expensive than states on the mainland.
Here’s the full list for the top 10 most expensive states in the US.
- New York
- Rhode Island
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To read their full report you can head to World Population Review’s website.