The least—and most affordable U.S. states based on average monthly expenses
Doxo released its 2024 Cost of Bills Index, which compares household expenses across the country.
The report focused on the ten most common household bill categories:
- Utilities
- Cable and phone
- Mobile phone
- Auto loans
- Auto insurance
- Life insurance
- Health insurance
- Alarm and security
- Rent
- Mortgage
Doxo used the national average as a benchmark to rank states in the index. States were assigned a number either above or below 100 based on their comparison to the national average.
According to Doxo's 2024 U.S. Household Bill Pay Report, the average American household spends $2,126 per month or $25,513 annually on the ten most crucial bills.
No. 1 most expensive U.S. state based on monthly costs: Hawaii
Hawaii remains the most expensive state when it comes to monthly household bills, with residents spending $3,091 per month, which is 45% above the national average.
In Hawaii, the average monthly mortgage payment is $2,576, compared to the average rental cost of $1,983, according to a Doxo report.
Hawaii and Massachusetts were ranked among the most expensive states to live in, according to CNBC's 2024 America's Top States for Business study. The average home price in Honolulu is $1,674,195 and the monthly energy bill is $359.53.
A report from the University of Hawaii in May stated that only one in five households in the state can afford to purchase a single-family home.
The housing situation in Hawaii has been exacerbated by the 2023 Maui wildfires and higher interest rates.
Top 10 most expensive U.S. states based on monthly costs
- Hawaii
- California
- Massachusetts
- New Jersey
- Maryland
- Washington
- New York
- Connecticut
- Colorado
- New Hampshire
No. 1 least expensive state based on monthly costs: West Virginia
For the second consecutive year, West Virginia was ranked as the most affordable state in terms of monthly expenses.
In West Virginia, the average monthly cost of bills is $1,596, which is 25% lower than the national average. The average mortgage in the state is $961, and the average rent is $846 per month.
In 2024, West Virginia was ranked as the cheapest state to live in, according to CNBC's America's Top States for Business Study.
In Morgantown, West Virginia, the average home price is $367,599 and the monthly energy bill is $178.61.
Companies can pay lower wages in West Virginia due to its low cost of living.
Top 10 least expensive states based on monthly costs
- West Virginia
- Mississippi
- Arkansas
- Kentucky
- Oklahoma
- Indiana
- Alabama
- Missouri
- South Dakota
- Kansas
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