CNBC’s Most Expensive States

We’ve already taken a look at CNBC’s Most Affordable (Cheapest) Places to Live so now let’s take a look at its Most Expensive Places to Live.

Just a reminder…CNBC’s exclusive annual “America’s Top States for Business” study is based on analyses of overall price data from the 2018 Annual American Cost of Living Index by the Council for Community and Economic Research. Also remember that living in a community that has boundless cultural attractions, good schools, robust job markets and heady economies costs money.

10. New Jersey                       TIE

– Gas costs twice as much here as in Chapel Hill NC.

– 2019 Cost of Living score – 10 out of 50

– Top state’s grade – F

– Most expensive area – Bergen-Passaic County

– Average home price – $578,386

– Monthly energy bill – $191.05

– Doctor visit – $101.07

 

10. Rhode Island, the Ocean State                    TIE

– Italian Americans represent 19% of state’s population

– 2019 Cost of Living scores – 10 out of 50

– Top state’s grade – F

– Most expensive area – Providence-Warwick Metro

– Average home price – $451,509

– Monthly energy bill – $227.80

– Doctor visit – $154.86

 

8. Connecticut, the Constitution State

– Bottle of wine, any wine, costs 2X as in Los Angeles

– 2019 Cost of Living scores – 8 out of 50

– Top state’s grade – F

– Most expensive area – Stamford-Greenwich-Darien

– Average home price – $662,447

– Monthly energy bill – $215.87

– Doctor visit – $135.27

 

7. Alaska, the Last Frontier State

– Most food has to be shipped in

– 2019 Cost of Living scores – 7 out of 50

– Top state’s grade – F

– Most expensive area – Juneau

– Average home price – $257,970

– Monthly energy bill – $257.97

– Doctor visit – $195.97

 

6. Oregon

– 2019 Cost of Living scores – 6 out of 20

– Top state’s grade – F

– Most expensive area – Portland

– Average home price – $549,358

– Monthly energy bill – $143.33

– Doctor visit

 

5. Maryland, the Old Line State

– 2019 Cost of Living scores – 5 out of 50

– Top state’s grade – F

– Most expensive area – Bethesda-Frederick-Gaithersburg

– Average home price – $794,750

– Monthly energy bill         – $173.95

– Doctor visit – $96.53

 

4. Massachusetts, the Bay State & home to Boston Brahmin

– $3,000/month for 950 square foot two bedroom apartment – 4X cost in Flagstaff            AZ

– 2019 Cost of Living scores – 4 out of 50

– Top state’s grade – F

– Most expensive area – Boston

• Average home price – $663,942
• Monthly energy bill – $236.62
• Doctor visit – $191.62

 

3. New York, the Empire State

– Highest housing prices in country

– Average 4 bedroom condo cost just under $2M, 10X cost of 4 bedroom home in Joplin MO

– 2019 Cost of Living scores – 3 out of 50

– Top state’s grade – F

– Most expensive area – Manhattan

– Average home price – $1,901,22

– Monthly energy bill – $217.46

– Doctor visit – $105.61

 

2. California, the Golden State

– 2019 Cost of Living scores – 2 out of 50

– Top state’s grade – F

– Most expensive area –San Francisco

– Average home price – $1,243,239

– Monthly energy bill – $237.13

– Doctor visit – $148.84

 

1. Hawaii – the Aloha State (aloha means peace, love, compassion)
   1. 2019 Cost of Living scores – 1 out of 50
   2. Top state’s grade – F-
   3. Most expensive area – Honolulu
   4. Average home price – $1,158,492
   5. Monthly energy bill – $388.62
   6. Doctor visit – $129.38