Cost of living index by U.S. state 2023

The least expensive areas to live in the U.S. were in Oklahoma, Mississippi, and Kansas in 2023. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. For instance, the state of Mississippi, the least expensive state, had a cost of living index of 86.2 - well below the national benchmark of 100. Florida - which had an index value of 100.7 in 2023 - was only slightly above that benchmark. Expensive places to live included Hawaii, District of Columbia, and Massachusetts.

Composite cost of living index in the different states of the United States in 2023

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Release date

April 2024

More information

Region

United States

Survey time period

2023

Special properties

Consumers, survey held on a volunteer basis

Supplementary notes

The source, MERIC, derives the cost of living index for each state by averaging the indices of participating cities and metropolitan areas in that state, as reported to the C2ER.

The composite index is based on six components: housing, utilities, grocery items, transportation, health care, and miscellaneous goods and services. The national average for all 273 participating areas is given a benchmark of 100.

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