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States With The Lowest Cost Of Living Index, Grocery, Housing, Utilities, And Transportation Index

In this video we discuss the states with the lowest cost of living. We also look at the grocery index, the housing cost index, the utilities cost index and the transportation index. Transcript/notes States with the lowest cost of living The states with the lowest cost of living start with Mississippi, Arkansas, Oklahoma, Missouri and New Mexico. And these numbers, for instance 86.1 for Mississippi, are the cost of living index. This index is based around 100, and takes into consideration the cost of housing, food, childcare, transportation and other items. 100 can be looked at like the average, so, in the case of Mississippi at 86.1, it is 100 minus 86.1, or 13.9% cheaper than the average. The states with the highest cost of living are Hawaii at 192.9, California at 151.7 and New York at 139.1. And here is the complete map with the index’s for each state. Now, here is a map with the grocery index, with the lowest states being Michigan, Texas and Idaho, and the highest states being Hawaii, Alaska, and New York. Again, this is based around 100, and has a much shorter range than the overall index. Now here is a map with the housing cost index with the lowest states being Mississippi, Alabama and Kansas, and the highest states being Hawaii, New York and California. And the difference in housing costs is substantial, as the lowest 5 states have an average index of 70.62 and the highest 5 states have an average index of 218.7 The next map here is the utilities cost index with the lowest states being Idaho, Louisiana, and Nevada, and the highest states being Hawaii, Alaska and Connecticut. Most of the states are within 20 points of each other in this category. Now here is a map of the transportation index, with the lowest states being Tennessee, Virginia, and Mississippi, and the highest states being Hawaii, California and Oregon. The range in this category is smaller than most of the other categories. One note, the cost of living is important, but it doesn’t take into account may other valuable things, such as the quality of life, are the school systems good, is there plenty of employment opportunities, and so on. Timestamps 0:00 States with the lowest cost of living 0:11 Index explained 0:23 States with the highest cost of living 0:38 States with the lowest cost of grocery Index 0:53 States with the lowest housing cost index 1:14 States with the lowest utilities cost index 1:28 States with the lowest transportation cost index