This Is The Most Expensive State In America According To Data Best Life

To quantify the cost of living in each state, we looked at five key metrics, which we then gave a weighted value, and applied to our exclusive algorithm to see how each state scored on our 100-point scale Expensive State Index. First, we looked at the average home value (an average of the median top-tier home value, median single-family house value, median bottom-tier home value, and median condo value), as determined by The Ascent using 2020 data from Zillow. But, as any homeowner will tell you, the cost of owning a home doesn’t stop there. The amount of property taxes that one pays can be a significant drain on their annual income, which is why we factored in the mean effective property tax rate on owner-occupied housing (total real taxes paid, divided by total home value), using the most recent data from the U.S. Census Bureau’s “American Community Survey,” and calculated by the Tax Foundation. We also looked to the Tax Foundation for the average state and local sales tax rate in each state, determined by a series of calculations to account for variances in city, county, and municipal rates. Finally, we collected and analyzed data on the average median annual household income in each state, provided by the U.S. Census Bureau, as well as the estimated living wage in each state from the Massachusetts Institute of Technology (MIT), which is the hourly rate that an individual must earn to support their household. So, before you decide to make your big move a reality, read on to discover the most expensive state in America, and to see where your current state or future one falls. And to see the area you may want to avoid for another reason, check out The Most Dangerous Small Town in America, According to Data. Average home value: $293,685 Average property tax rate: 0.76 percent Average state and local sales tax rate: 0.00 percent Estimated hourly living wage: $31.55 Annual median household income: $57,153 Expensive State Index Score: 0.00 Average home value: $107,064 Average property tax rate: 0.55 percent Average state and local sales tax rate: 6.41 percent Estimated hourly living wage: $30.00 Annual median household income: $48,850 Expensive State Index Score: 5.14 Average home value: $262,667 Average property tax rate: 0.58 percent Average state and local sales tax rate: 0.00 percent Estimated hourly living wage: $33.85 Annual median household income: $70,176 Expensive State Index Score: 5.41 Average home value: $126,511 Average property tax rate: 0.76 percent Average state and local sales tax rate: 0.00 percent Estimated hourly living wage: $31.55 Annual median household income: $57,153 Expensive State Index Score: 9.83 Average home value: $150,918 Average property tax rate: 0.82 percent Average state and local sales tax rate: 6.00 percent Estimated hourly living wage: $30.28 Annual median household income: $52,295 Expensive State Index Score: 13.01 Average home value: $350,044 Average property tax rate: 0.98 percent Average state and local sales tax rate: 0.00 percent Estimated hourly living wage: $35.64 Annual median household income: $65,058 Expensive State Index Score: 19.47 Average home value: $161,106 Average property tax rate: 0.87 percent Average state and local sales tax rate: 7.00 percent Estimated hourly living wage: $30.14 Annual median household income: $57,603 Expensive State Index Score: 23.38 Average home value: $297,111 Average property tax rate: 1.02 percent Average state and local sales tax rate: 1.76 percent Estimated hourly living wage: $31.66 Annual median household income: $75,463 Expensive State Index Score: 24.76 Average home value: $147,539 Average property tax rate: 0.40 percent Average state and local sales tax rate: 9.22 percent Estimated hourly living wage: $30.04 Annual median household income: $51,734 Expensive State Index Score: 24.86 Average home value: $254,753 Average property tax rate: 0.55 percent Average state and local sales tax rate: 5.34 percent Estimated hourly living wage: $29.53 Annual median household income: $65,003 Expensive State Index Score: 25.62 Average home value: $131,837 Average property tax rate: 0.64 percent Average state and local sales tax rate: 9.47 percent Estimated hourly living wage: $30.85 Annual median household income: $48,952 Expensive State Index Score: 25.85 Average home value: $180,404 Average property tax rate: 1.44 percent Average state and local sales tax rate: 6.00 percent Estimated hourly living wage: $29.66 Annual median household income: $59,584 Expensive State Index Score: 26.98 Average home value: $303,875 Average property tax rate: 2.03 percent Average state and local sales tax rate: 0.00 percent Estimated hourly living wage: $30.96 Annual median household income: $77,933 Expensive State Index Score: 27.70 Average home value: $193,491 Average property tax rate: 0.56 percent Average state and local sales tax rate: 7.46 percent Estimated hourly living wage: $33.18 Annual median household income: $56,227 Expensive State Index Score: 27.72 Average home value: $214,213 Average property tax rate: 0.68 percent Average state and local sales tax rate: 7.82 percent Estimated hourly living wage: $31.58 Annual median household income: $51,945 Expensive State Index Score: 28.91 Average home value: $210,766 Average property tax rate: 0.85 percent Average state and local sales tax rate: 6.97 percent Estimated hourly living wage: $31.26 Annual median household income: $57,341 Expensive State Index Score: 29.11 Average home value: $134,289 Average property tax rate: 0.88 percent Average state and local sales tax rate: 8.94 percent Estimated hourly living wage: $30.58 Annual median household income: $54,449 Expensive State Index Score: 29.23 Average home value: $217,215 Average property tax rate: 1.22 percent Average state and local sales tax rate: 6.40 percent Estimated hourly living wage: $29.19 Annual median household income: $59,533 Expensive State Index Score: 30.33 Average home value: $171,485 Average property tax rate: 0.52 percent Average state and local sales tax rate: 9.52 percent Estimated hourly living wage: $32.16 Annual median household income: $51,073 Expensive State Index Score: 31.64 Average home value: $156,343 Average property tax rate: 1.62 percent Average state and local sales tax rate: 7.17 percent Estimated hourly living wage: $29.55 Annual median household income: $58,642 Expensive State Index Score: 31.81 Average home value: $253,914 Average property tax rate: 1.27 percent Average state and local sales tax rate: 5.50 percent Estimated hourly living wage: $32.41 Annual median household income: $58,924 Expensive State Index Score: 32.31 Average home value: $155,781 Average property tax rate: 1.50 percent Average state and local sales tax rate: 6.94 percent Estimated hourly living wage: $31.31 Annual median household income: $61,691 Expensive State Index Score: 32.79 Average home value: $167,700 Average property tax rate: 1.01 percent Average state and local sales tax rate: 8.18 percent Estimated hourly living wage: $31.55 Annual median household income: $57,409 Expensive State Index Score: 32.91 Average home value: $200,367ae0fcc31ae342fd3a1346ebb1f342fcb Average property tax rate: 1.51 percent Average state and local sales tax rate: 6.34 percent Estimated hourly living wage: $29.08 Annual median household income: $63,463 Expensive State Index Score: 33.76 Average home value: $206,169 Average property tax rate: 1.73 percent Average state and local sales tax rate: 5.46 percent Estimated hourly living wage: $30.98 Annual median household income: $64,168 Expensive State Index Score: 34.07 Average home value: $208,833 Average property tax rate: 0.92 percent Average state and local sales tax rate: 7.31 percent Estimated hourly living wage: $32.23 Annual median household income: $61,980 Expensive State Index Score: 35.36 Average home value: $304,036 Average property tax rate: 0.75 percent Average state and local sales tax rate: 6.03 percent Estimated hourly living wage: $31.29 Annual median household income: $60,999 Expensive State Index Score: 35.51 Average home value: $236,405 Average property tax rate: 0.95 percent Average state and local sales tax rate: 6.86 percent Estimated hourly living wage: $29.55 Annual median household income: $64,577 Expensive State Index Score: 35.68 Average home value: $192,275 Average property tax rate: 0.73 percent Average state and local sales tax rate: 9.53 percent Estimated hourly living wage: $28.97 Annual median household income: $56,071 Expensive State Index Score: 36.74 Average home value: $254,607 Average property tax rate: 0.94 percent Average state and local sales tax rate: 7.05 percent Estimated hourly living wage: $32.28 Annual median household income: $59,227 Expensive State Index Score: 37.30 And for the part of the country with the least-edible eats, This State Has the Worst Food in America, According to Data. Average home value: $180,397 Average property tax rate: 1.65 percent Average state and local sales tax rate: 6.93 percent Estimated hourly living wage: $31.44 Annual median household income: $63,229 Expensive State Index Score: 38.08 Average home value: $154,531 Average property tax rate: 1.33 percent Average state and local sales tax rate: 8.68 percent Estimated hourly living wage: $30.66 Annual median household income: $62,087 Expensive State Index Score: 39.87 Average home value: $293,818 Average property tax rate: 0.86 percent Average state and local sales tax rate: 5.65 percent Estimated hourly living wage: $33.68 Annual median household income: 76,456 Expensive State Index Score: 45.86 Average home value: $264,777 Average property tax rate: 1.8 percent Average state and local sales tax rate: 6.22 percent Estimated hourly living wage: $32.92 Annual median household income: 63,001 Expensive State Index Score: 46.01 Average home value: $283,623 Average property tax rate: 0.67 percent Average state and local sales tax rate: 8.40 percent Estimated hourly living wage: $32.42 Annual median household income: $62,055 Expensive State Index Score: 46.79 Average home value: $311,018 Average property tax rate: 0.66 percent Average state and local sales tax rate: 8.32 percent Estimated hourly living wage: $30.40 Annual median household income: $63,276 Expensive State Index Score: 48.29 Average home value: $213,036 Average property tax rate: 1.69 percent Average state and local sales tax rate: 8.19 percent Estimated hourly living wage: 30.75 Annual median household income: 64,034 Expensive State Index Score: 48.67 And for the place that is most riddled with rage, This Is the Most Hateful State in America. Average home value: $266,887 Average property tax rate: 1.11 percent Average state and local sales tax rate: 7.46 percent Estimated hourly living wage: $32.96 Annual median household income: $74,593 Expensive State Index Score: 53.39 Average home value: $312,255 Average property tax rate: 1.53 percent Average state and local sales tax rate: 7.00 percent Estimated hourly living wage: $31.74 Annual median household income: $71,169 Expensive State Index Score: 56.88 Average home value: $262,600 Average property tax rate: 1.70 percent Average state and local sales tax rate: 6.35 percent Estimated hourly living wage: $34.13 Annual median household income: $78,883 Expensive State Index Score: 57.03 Average home value: $374,604 Average property tax rate: 0.62 percent Average state and local sales tax rate: 7.18 percent Estimated hourly living wage: $32.05 Annual median household income: $75,780 Expensive State Index Score: 58.34 Average home value: $317,033 Average property tax rate: 1.04 percent Average state and local sales tax rate: 6.00 percent Estimated hourly living wage: $35.41 Annual median household income: $86,738 Expensive State Index Score: 60.42 Average home value: $204,872 Average property tax rate: 2.05 percent Average state and local sales tax rate: 9.08 percent Estimated hourly living wage: $32.53 Annual median household income: $69,187 Expensive State Index Score: 61.25 Average home value: $412,819 Average property tax rate: 0.56 percent Average state and local sales tax rate: 7.65 percent Estimated hourly living wage: $34.94 Annual median household income: $77,127 Expensive State Index Score: 67.67 Average home value: $331,459 Average property tax rate: 1.40 percent Average state and local sales tax rate: 8.52 percent Estimated hourly living wage: $35.98 Annual median household income: $72,108 Expensive State Index Score: 69.91 And for more exclusive rankings sent straight to your inbox, sign up for our daily newsletter. Average home value: $439,541 Average property tax rate: 1.15 percent Average state and local sales tax rate: 6.25 percent Estimated hourly living wage: $34.72 Annual median household income: $85,843 Expensive State Index Score: 74.85 Average home value: $346,368 Average property tax rate: 2.21 percent Average state and local sales tax rate: 6.60 percent Estimated hourly living wage: $35.18 Annual median household income: $85,751 Expensive State Index Score: 78.14 Average home value: $646,733 Average property tax rate: .03 percent Average state and local sales tax rate: 4.44 percent Estimated hourly living wage: $40.40 Annual median household income: $83,102 Expensive State Index Score: 81.51 Average home value: $439,487 Average property tax rate: 0.92 percent Average state and local sales tax rate: 9.21 percent Estimated hourly living wage: $33.31 Annual median household income: $76,687 Expensive State Index Score: 82.27 Average home value: $579,332 Average property tax rate: 0.72 percent Average state and local sales tax rate: 8.66 percent Estimated hourly living wage: $40.83 Annual median household income: $80,440 Expensive State Index Score: 100.00 And for the state where residents have another concern, This Is the Most Dangerous State in America, According to Data.