- A new report by Best Life reveals the Most Expensive States In The U.S.
- They determined their list based on factors like average home value, property tax rate, average state and local tax rate, and average median annual household income in each state.
- Based on all of this, California is the most expensive state in America.
- While the annual median household income is over $80,000, average homes cost almost $580,000, with a property tax rate of .72 and state and local taxes at around 8.66%.
Top Ten Most Expensive States In The U.S.
- New Jersey
- New York
- On the other end of the spectrum, Montana is the least expensive state in the U.S., where the average home is a little over $290,000 and the average household income is over $57,000.
Wondering where North Dakota falls on this list? We come in at #23 with the following:
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