Here's How Expensive It Is To Live In Colorado
By Rebekah Gonzalez
January 20, 2021
How much Americans pay for rent and other living expenses vary drastically depending on which state they live in.
A HomeSnacks study, using MIT's Living Wage data, determined the cheapest and the most expensive states to live in.
While Colorado isn't quite the most expensive, it's definitely far from the cheapest. According to the study, Colorado is ranked as the 44th cheapest state with a living wage of $62,950.
That's over a $14,000 difference compared to Mississippi, which HomeSnacks ranked as the cheapest state in America, and a $5,240 difference compared to California, which is ranked as the most expensive state.
According to the study the cheapest states in America are:
- Mississippi
- Arkansas
- West Virginia
- Tennessee
- South Dakota
- Alabama
- Kentucky
- Ohio
- South Carolina
- Indiana
And the most expensive states in America are:
- California
- New York
- Massachusetts
- Maryland
- Connecticut
- New Jersey
- Colorado
- Virginia
- Hawaii
- Alaska
HomeSnacks' main source for the study was MIT's Living Wage data. The MIT researchers compile geographical data on what a family of various sizes can realistically expect to spend to live above the poverty line.
To determine this they look at the cost of food, child care, medical, housing, transportation, taxes, and other personal necessities.
You can see how all 50 states rank here.
Photo: Getty Images