Massachusetts #1 Most Expensive State to raise a family in the country. If you live here in Massachusetts, this will come as no surprise to you. The cost of living here is pretty astronomical. Everything from gas to grocery prices to rent and mortgage rates is well above the country’s average. So the results of this survey really shouldn’t shock anyone. SmartAsset did a study and released its results on how much it would take for a family to live “comfortably” in America. It’s not something to be proud of. Massachusetts #1 Most Expensive State is not it. Here’s what they found.

Massachusetts #1 Most Expensive State – What does living “comfortably” mean?

For the sake of this survey, living “comfortably” means income needed to fuel a 50/30/20 budget for a family of four. 50 being what it costs for necessities like rent or mortgage and utilities. 30% would be for discretionary spending and 20 % would be for savings and investments. SmartAssets determined the formula for each state using the MIT Living Wage calculator.

Least expensive state to raise a family?

It wouldn’t make sense to mention the most expensive states to raise a family without mentioning the least expensive. Mississippi is the least-expensive state to raise a family, requiring only $177,798 per year in annual income.  This is quite the difference from the most expensive states. In general, rural states are a lot less expensive to live than states with larger cities.

So what does all of this mean for Massachusetts?

It means what you think it means. Massachusetts #1 Most Expensive State in the country. This means a much higher cost of living, although this means higher salaries but it is all relative. But if you live here, you know all too well that it is NOT cheap and can be a struggle. We are definitely not alone as there are other states in the top 5 that are pretty expensive too. Let’s take a look at the most expensive states in America. Again, tell us something we don’t know. Massachusetts #1 Most Expensive State in the country.

  • #5 California

    Living in California is NOT cheap. A family of four must earn $279,885 on average to live comfortably. But living in California is a dream for many. With surfing, hiking, road trips, sports and more being big draws, there is never a loss of things to do there.

    2024 Cost of Living in California | SmartAsset

    SmartAsset put together this guide on cost of living in California. We break down housing costs, utilities, food, transportation and taxes.

  • #4 New York

    Living in New York is NOT cheap. A family of four must earn $278,970 on average to live comfortably. I mean, there IS a ton to do in New York. Now costs are obviously cheaper if you are in rural areas rather directly in NYC.

  • #3 Connecticut

    You may be surprised to see Connecticut on this list. A family of four must earn $$279,885 on average to live comfortably.  Utility costs play a large role in this. CT’s utility bills are higher than other states.

  • #2 Hawaii

    Being on an island, the fact that Hawaii is #2 on this list should’ve surprise anyone. A family of four must earn  $294,611 to live comfortably. High housing, energy and transportation are key factors here. 

  • #1 Massachusetts

    And here we go. Yup, Massachusetts is the most expensive state to live in the country. To live comfortably, a family of four must earn  $301,184. But anyone who lives here knows this. We’ve actually jumped up from #5 to #1. 

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