Doxo, a bill payment service, recently released its 2024 Cost of Bills Index, which compares the costs that households in different parts of the country face.
The 10 most common categories of household bills were the focus of the report:
Doxo used the number 100 in the index to determine the ranking. Then, at that point, states were relegated to a number either above or under 100 given how they contrasted with the national average.
doxo’s 2024 U.S. Household Bill Pay Report tracked down that the average U.S. household spends $2,126 per month — $25,513 every year — on the ten most fundamental bills.
Hawaii is as yet the most expensive state because of the expense of monthly household bills. It also took the top spot on the list from last year. 45% more than the national average, residents spend $3,091 per month.
The Doxo report observed that the average monthly bill for a mortgage in Hawaii is $2,576, while the average rent is $1,983.
In CNBC’s 2024 America’s Top States for Business study, Hawaii is attached to Massachusetts as one of the most expensive states to live in. The average home cost in Honolulu is $1,674,195 and the monthly energy bill is $359.53, as per CNBC.
According to a report released in May by the University of Hawaii, only one in five households in the state have the financial means to purchase a single-family home.
The report expressed that the 2023 Maui wildfires and higher interest rates have made the housing circumstances in the Aloha state much worse.
For the second year straight, West Virginia ranked as the most affordable state in light of monthly costs.
Bills in West Virginia typically cost $1,596 per month, which is 25% less than the national average. The state’s average mortgage is $961, and the average monthly rent is $846.
The Mountain State is additionally positioned as the least expensive state to live in for 2024, as per CNBC’s America’s Top States for Business Study.
The average home cost in Morgantown, West Virginia, is $367,599, and the monthly energy bill is $178.61.
The minimal expense of living in West Virginia implies organizations can pay lower compensation than they could in a state with a greater expense of living. According to the U.S. Bureau of Labor Statistics, West Virginia’s average hourly wage of $25.10 in 2023 was the third lowest in the country.
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