America’s Most Expensive States For Renters: Housing, Wages, and Grocery Costs Revealed

2024-06-16

Find out which states are the least affordable for American families based on how much it costs to rent a two-bedroom apartment. 

The Impact of Inflation

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Once upon a time, most of the country was relatively affordable for the average American family. Now, inflation has put pressure on the majority of American citizens, creating stress around finances for people from many different walks of life. 

Which States Are Most Expensive?

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Some states are harder to afford than others, and this roundup lists the most expensive states to live in. The data is based on the cost of a two bedroom apartment, and we’ve included information on the state’s minimum wage and average grocery costs for a family of four.

Ranked here starting with the most expensive, take a look at which states are hardest to afford for renters.  These figures represent averages, as costs can vary greatly from urban to rural areas within a state. 

#1. Hawaii

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Average rent: $2400

Minimum wage: $14

Monthly grocery cost: $1169

The Aloha State

Hawaii may be a favorite tropical destination for tourists, but for locals, it’s the most expensive place in the country to live. For a family of four living on one minimum-wage income, a two bedroom apartment is out of reach. Just to afford rent and groceries alone, a family would need to earn $25 per hour in Hawaii.

#2. California

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Average rent: $1972

Minimum wage: $16

Monthly grocery cost: $1288

The Golden State

California is known as the Golden State, but its cost of living is anything but golden. It is slightly more affordable than Hawaii, but it would still be impossible for a family of four to make it on minimum wage. Luckily for Californians, the average hourly wage in California is closer to $24.

#3. New Jersey

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Average rent: $1874

Minimum wage: $15.13

Monthly grocery cost: $1144

The Garden State

New Jersey is home to thousands of commuters who live in the Garden State and commute to New York City or Philadelphia for work. That means that while the minimum wage in New Jersey is only about $15 per hour, many of those who reside in New Jersey are making bigger city wages. Still, that doesn’t account for the many families living on minimum wage who struggle to make ends meet given the high costs of living in the state.

#4. Massachusetts

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Average rent: $1840

Minimum wage: $15

Monthly grocery cost: $1657

The Bay State

Bay Staters know that Massachusetts is expensive, but the trade-off is that there is plenty to do in this historic state. Despite all its history, Massachusetts is a difficult state to live in if you make minimum wage. 

#5. New York

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Average rent: $1724

Minimum wage: $15

Monthly grocery cost: $1946

The Empire State

While much of upstate New York is more affordable, the state’s figures are skewed high because of how costly it is to live in New York City. Still, the Empire State is one of the most expensive states to live in because of its high costs overall, not just in the city.

#6. Maryland

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Average rent: $1722

Minimum wage: $15

Monthly grocery cost: $804

The Old Line State

Given its proximity to the nation’s capital, Maryland is home to a diverse population that includes government officials. Average rents are high compared to its minimum wage, which is barely enough just to cover rent, much less other living expenses. 

#7. Connecticut

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Average rent: $1622

Minimum wage: $15.69

Monthly grocery cost: $1159

The Constitution State

Coming in at #7 is the northeastern state of Connecticut, home to the prestigious Yale University and a popular autumn tourist destination. With exorbitant grocery costs and high rents, Connecticut remains one of the most expensive states in the country.

#8. Colorado

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Average rent: $1585

Minimum wage: $14.42

Monthly grocery cost: $1366

The Centennial State

Though the state offers beautiful mountain scenery, the minimum wage in Colorado is not enough to cover an apartment and groceries, like many on this list. Families would need a dual income or higher wages to make ends meet in the Centennial State. 

#9. Washington

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Average rent: $1462

Minimum wage: $16.28

Monthly grocery cost: $809

The Evergreen State

Situated in Washington is the city of Seattle, which boasts tons of tech jobs. That’s lucky for the citizens of the Evergreen State who need more than minimum wage to stay afloat. 

#10. Oregon

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Average rent: $1341

Minimum wage: $14.20

Monthly grocery cost: $1341

The Beaver State

Staying in the Pacific Northwest, #10 on our list is the state of Oregon, which has a lower minimum wage than most of our top ten. Despite that, rents and food costs are still pretty high for the Beaver State.

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The post America’s Most Expensive States For Renters: Housing, Wages, and Grocery Costs Revealed first appeared on Thrift My Life.

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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.