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These are America’s 10 most expensive states to live in for 2022


Record inflation around the world is changing lives and forcing some tough decisions. With U.S. consumer prices rising at a pace not seen in 40 years, families are putting off some purchases and changing their shopping habits. The latest government inflation report for June was worse than expected, with the Consumer Price Index rising 9.1% year over year.With the workforce more mobile than ever, some are even moving to more affordable locations. The states listed here are not among them. They are America’s most expensive states to live in, as determined by CNBC’s exclusive America’s Top States for Business study.Because Cost of Living is such an important consideration these days, it’s an important part of our methodology. We rate the states based on an index of prices for a broad range of goods and services. Also listed below are average prices for selected items last year based on the 2021 Average Cost of Living Index by the Council for Community and Economic Research, C2ER. Prices have only gone higher this year, so we have also included the current regional inflation rate year-over-year from the U.S. Bureau of Labor Statistics.Inflation is hitting these ten states the hardest.10. VermontVermontSean Pavone | Istock | Getty ImagesThe Green Mountain State offers the best quality of life according to this year’s Top States for Business report, but you will pay dearly for it—or at least a lot more than you once did in a state that’s traditionally been a refuge from the big cities of the Northeast. That is especially true when it comes to home prices, which jumped 20 percent last year according to the Federal Housing Finance Agency. Demand far outstripped supply, as people who used to just visit Vermont decided to stay.2022 Cost of Living Score: 10 out of 50 points (Top States Grade: F)Consumer Price Index (May, New England Division): UP 7.9%Average Home Price (Burlington): $546,522Half Gallon of Milk: $3.34Monthly Energy Bill: $233.399. Rhode IslandNational Grid worker Jesus Garcia checks on the valves in an underground gas substation on Broadway Street in Newport, RI, as purging of gas from the lines was ongoing.John Tlumacki | Boston Globe | Getty ImagesAccording to the U.S. Department of Energy, Rhode Island gets a greater percentage of its power from natural gas than any other state. With prices up 60% last year and doubling so far this year, that is not a good spot to be in. Heating oil prices are also up sharply, dealing a blow to much of the Northeast. Your annual energy bill in Providence is nearly twice what they are paying in Yakima, Washington.2022 Cost of Living Score: 9 out of 50 points (Top States Grade: F)Consumer Price Index (May, New England Division): UP 7.9%Average Home Price (Providence-Warwick): $436,045Half Gallon of Milk: $2.62Monthly Energy Bill: $251.328. ConnecticutA man fills up his truck in Norwalk, Connecticut. Connecticut has some of the nation’s highest gas prices where according to the AAA.Spencer Platt | Getty Images News | Getty ImagesContinuing in New England, Connecticut is another Northeastern state hit by rising energy prices. Expect to pay twice the monthly energy bill is Stamford compared to what you would pay just down the East Coast in Wilmington, Delaware. Food is no picnic either. You’ll pay 60% more for a loaf of bread than you would in Kalamazoo, Michigan.2022 Cost of Living Score: 8 out of 50 points (Top States Grade: F)Consumer Price Index (May, New England Division): UP 7.9%Average Home Price (Stamford): $653,962Half Gallon of Milk: $3.43Monthly Energy Bill: $281.857. MarylandA man shops for meat at a Safeway grocery store in Annapolis, Maryland, on May 16, 2022, as Americans brace for summer sticker shock as inflation continues to grow.Jim Watson | AFP | Getty ImagesFood prices are surging in The Old Line State, particularly in the area outside Washington, DC, where they are rising even faster than the national average. You’ll pay 40% more for a steak in Bethesda than you would in Tupelo, Mississippi. Thinking of cutting back and opting for ground beef instead? That will cost you 50% more.2022 Cost of Living Score: 7 out of 50 points (Top States Grade: F)Consumer Price Index (May, Washington-Arlington-Alexandria Area): UP 7.5%Average Home Price (Bethesda-Gaithersburg-Frederick): $897,311Half Gallon of Milk: $2.49Monthly Energy Bill: $180.306. AlaskaPeople shop for food at a supermarket in the town of Bethel on the Yukon Delta, Alaska.Mark Ralston | AFP | Getty ImagesNot all the expensive states are on the East Coast. Alaska is notoriously expensive. With fewer than one million acres of farmland (for perspective, California has about 43 million), much of the food in the state has to come from somewhere else. That helps explain why a head of lettuce in Juneau costs twice what it would in Yuma, Arizona. And inflation is making the bad cost of living situation even worse.2022 Cost of Living Score: 6 out of 50 points (Top States Grade: F)Consumer Price Index (April, Anchorage Area): UP 7.5%Average Home Price (Juneau): $599,131Half Gallon of Milk: $3.36Monthly Energy Bill: $275.045. OregonCondos on the Willamette River in Portland, Oregon.Davealan | Istock | Getty ImagesHousing prices jumped 18% in Oregon last year, as the Pacific Northwest grapples with housing shortages. That means rents are soaring, too. A two-bedroom apartment in Portland will set you back more than twice what a similar place would go for in Pittsburgh.2022 Cost of Living Score: 5 out of 50 points (Top States Grade: F)Consumer Price Index (May, West Region): UP 8.3%Average Home Price (Portland): $628,508Half Gallon of Milk: $2.61Monthly Energy Bill: $148.234. MassachusettsJohn Hornstra, a fifth generation Hornstra family member, makes a morning delivery in Norwell, MA.David L. Ryan | Boston Globe | Getty ImagesBack to New England, where rising food, energy and housing costs have been a one-two-three punch in the Bay State. The Bureau of Labor Statistics says natural gas heating in the Boston area is up more than 40% from a year ago. Dairy products are up more than 15%, so your milk in Boston will cost twice what it would in Detroit.2022 Cost of Living Score: 4 out of 50 points (Top States Grade: F)Consumer Price Index (May, Boston-Cambridge-Newton Area): UP 7.5%Average Home Price (Boston): $815,930Half Gallon of Milk: $3.07Monthly Energy Bill: $233.393. CaliforniaHouses in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade.David Paul Morris | Bloomberg | Getty ImagesHow bad is California’s housing shortage? A 2015 study by the state’s Legislative Analyst found that the state has been building about 110,000 fewer units than the amount needed to keep up with demand. And California has been doing this for more than 30 years! That adds up to a shortage of around 3.5 million housing units and counting. And that translates to higher prices. A 2,400 square foot home in San Francisco will cost around $1.4 million if you’re lucky. The same house in Phoenix, a metro area about the same size, might go for around $400,000. And don’t get us started on the gas prices, the highest in the nation.2022 Cost of Living Score: 3 out of 50 points (Top States Grade: F)Consumer Price Index (May, West Region): UP 8.3%Average Home Price (San Francisco): $1,396,782Half Gallon of Milk: $2.55Monthly Energy Bill: $266.442. New YorkNEW YORK, NEW YORK – SEPTEMBER 10: Customers sit at tables separated by dividers outside Peter Luger Steakhouse in Williamsburg as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 10, 2020 in New York City. The fourth phase allows outdoor arts and entertainment, sporting events without fans and media production. (Photo by Noam Galai/Getty Images)Noam Galai | Getty Images Entertainment | Getty ImagesPrices in New York City are in a class by themselves. The price of a home in Manhattan is roughly twice the nearest competitor, and nearly ten times what you would pay in Scranton, Pennsylvania. And it is not just housing. You get no break buying a New York steak in New York. It will cost you 50% more in Brooklyn than it would in Joplin, Missouri. Inflation in New York, while high, is relatively tame compared to the rest of the country. But that may be in part because prices were stratospheric to begin with.2022 Cost of Living Score: 2 out of 50 points (Top States Grade: F)Consumer Price Index (New York-Newark-Jersey City): UP 6.3%Average Home Price (Manhattan): $2,354,006Half Gallon of Milk: $2.84Monthly Energy Bill: $174.721. HawaiiSwissmediavision | E+ | Getty ImagesParadise is expensive. After you find a place to live—at prices typically double those on the mainland—you still must eat. And that, too, is expensive, even for staples. A 5-pound bag of sugar in Honolulu will cost you double what you would pay in Danville, Illinois. Bananas? Twice as expensive as they are in Pueblo, Colorado. A visit to the doctor’s office? It will cost 65% more than in Orlando, Florida, here in America’s most expensive state to live in.2022 Cost of Living Score: 1 out of 50 points (Top States Grade: F)Consumer Price Index (May, Honolulu Area): UP 7%Average Home Price (Honolulu): $1,399,439Half Gallon of Milk: $3.92Monthly Energy Bill: $369.53

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