The cost of living in the US is high. If you have a single- family home and have paid off the mortgage, you are ahead of the pack. If you reinvest in you home with maintenance and improvements, the increase in your home value will outpace other possible investments. If you are renting, you will continue to struggle.
You may also need to know what States have high taxes, a high cost of living index and high insurance rates. https://www.bls.gov/opub/btn/volume-2/reemergence-of-the-united-states-as-a-global-petroleum-producer.htm
US Cost of Living Index by State
The 2023 COL Index by State in the US includes the higher costs in the big cities. The COL Index Number is driven by consumer demand, tax policy, distance from supply chains, coastal weather damage, average home and rental costs, insurance costs, local nominal GDP and federal government meddling.
I added State Minimum Wage to this post. A few States have 2 minimum wage levels for large and small companies.
State/Dist COL Index
$Min Wage
Hawaii 179.0 12.00
DC 148.7 16.10
Massachusetts 148.4
15.00
New
Jersey 144.4 14.13
12.93sm
California 134.5 15.50
New
York 125.1 14.20
Alaska 124.4 10.85
Maryland 119.5 13.25
Washington 115.1
15.74
Oregon 115.1 13.50
N
Hampshire 115.0 7.25
Vermont 114.9 13.25
Connecticut 113.1
14.00
Maine 111.5 13.80
Rhode
Island 110.5 13.00
Arizona 107.2 13.85
Colorado 105.5
13.65
Montana 103.7
9.95 4.00sm
Virginia 103.1 12.00
Delaware 102.6 11.75
Florida 102.3 11.00
Utah 101.5 7.25
Nevada 101.3 10.50
9.50 w/hlth
Pennsylania 99.0
7.25
Puerto
Rico 96.6 7.25
S
Carolina 96.5 7.25
Wisconsin 95.0
7.25
N
Dakota 94.6 7.25
N
Mexico 94.2 12.00
Minnesota 94.1
10.59 8.63sm
Ohio 94.0 10.10
7.25sm
S
Dakota 93.8 10.80
Kentucky 93.8 7.25
Texas 93.0 7.25
Wyoming 92.8
7.25
Michigan 92.7 10.10
Louisiana 92.0
7.25
Indiana 91.5 7.25
Georgia 91.0 7.25
Illinois 90.8 13.00
Tennessee 90.4
7.25
Arkansas 90.3 11.00
W
Virginia 90.3 8.75
Nebraska 90.1
10.50
Iowa 89.7 7.25
Alabama 88.8 7.25
Missouri 88.4 12.00
Kansas 87.7 7.25
Oklahoma 86.0
7.25 2.00sm
Mississippi 85.3 7.25
New Jersey did not appear on the GDP list but did appear on the minimum wage list at 14.13 for large companies and 12.93 for small companies.
Utility and energy costs, State GDP, household income, taxes, housing costs, high consumer demand and low supply are major factors in determining the COL index numbers.
https://meric.mo.gov/data/cost-living-data-series
Norb Leahy, Dunwoody GA Tea
Party Leader
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