Pic-of-the-Week: Does Expensive Housing = High Living Costs?
The cost of living in a state typically reflects housing costs, but not always – The variation in housing costs across the 50 states is remarkable. The average value of a single family owner-occupied home in the U.S. ranges from a low of $145,000 in Oklahoma to a high of $877,000 in Hawaii. Similarly, the overall cost of living in Hawaii is 17% above the national average but is 10% below in Oklahoma. Yet per capita personal income is only about 10% higher in Hawaii.