Top 20 Most Expensive States To Live In 2024 List. The garden state ranks as one of the most expensive states for housing, thanks to its proximity to new york city and philadelphia—the median home value is $327,700. Hawaii claimed the top spot as the most expensive state in terms of cost of living, with an average annual expenditure of $55,491.
Cost of living index (coli) compiles the six subcategories (housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services) into a single value. New york, with a cost of index of 134.5, hinges its high cost of living on factors such as considerable housing costs, particularly in new york city, and high taxes.
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