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Which States Have the Highest Cost Of Living? Lowest?
FYI: Intuition tells us that a $40,000 income in Nebraska will go farther in terms of purchasing power than in California. Indeed, cost of living differences across states are important factors to consider when comparing income and budget constraints. A new dataset should help with those comparisons. Regards, Ted http://ritholtz.com/2017/07/states-highest-cost-living-lowest/
I can't speak for the other states but for NY the numbers are irrelevant..IF you want city life check out the cost of a house in any of the upstate cities of Albany Rochester Syracuse and Syracuse , NY state is not NYC and I suspect california is not San Francisco.
>> our analysis shows that cost of living differences should be taken into account when comparing income differences across states, particularly differences in rents and house prices.
Hope no one paid any money for this conclusion.
Hmm, let me see how Springfield Ohio CoL compares in all respects with Wayland Mass.
These studies happen all the time, and my takeaway is that there are places at both ends of the COL range that are unattractive to different people. For example, there are places I think are wonderful to visit, but you could not pay me enough to live there. I am sure we all have similar reactions to different cities/locales. There are folks who live in a northern suburb of Columbus, who never, ever go into Columbus. They think the traffic is just horrible. For those of us who travel, we find traffic in Columbus to be pretty tame compared to much of the northeast, Chicago, LA, and SF.
Interesting. I can navigate L.A. pretty well. (And burbs.) Got into a fender-bender in SF because the moron in front of me was doing about 11 mph through the yellow. I followed him into the intersection, and the light turned red. And here comes the traffic traveling perpendicular to me. Of course, the fact that the traffic light itself was the last thing I saw, had nothing to do with it--- buried as it was in the midst of 14 other signs there, on the same post. Superior planning, everywhere I go.
@Crash- Actually, if you want to navigate easily through SF traffic without being required to observe signals, stop signs, or any traffic regulations whatsoever you will need to ride a bicycle. Our progressive board of supervisors has decreed that they can do no wrong, and are evidently exempt from observation of any traffic regulations. To facilitate this SF has invested in some 19 million (my estimate) gallons of special paint so as to remove as many vehicle traffic lanes as possible so as to create "special" space for these "special" people on their "special" bicycles. < End of rant. >
Comments
Hope no one paid any money for this conclusion.
Hmm, let me see how Springfield Ohio CoL compares in all respects with Wayland Mass.
omg, they are soooo different.
Just wait until we post those same fourteen signs in six different languages! That'll be next.