What’s the average price of a home in your state? The price of a half gallon of milk? A doctor’s appointment? How about the average monthly energy bill? CNBC added up all those factors, and many more, to determine its lists of the top 10 most expensive states to live in in 2014, as well as the 10 least expensive. The higher the state’s cost of living, the worse it performed in the study.
Here are the top 10 most expensive states. It’s worth noting that seven of the 10 are on the East Coast.
1. New York
7. New Jersey
8. New Hampshire
9. Rhode Island
Now here’s the list of the least expensive states in which to live, ranked from least (No. 1) to most (No. 10) expensive of the bottom 10.
5. West Virginia
7. Indiana (tie)
7. Alabama (tie)
10. South Carolina
Prices for various items were compared to the national average. So for instance, the national average price of a home is $294,127. But the average home in New York will set you back a whopping $1.358 million! Meanwhile in Kentucky, the country’s least expensive state, the average home in the Bowling Green area costs $244,299.
to see a sampling of prices you'll pay for some basics in the most expensive states, and here
for prices and more detail on the least expensive states.