The firm GOBankingRates published an analysis revealing which states are the most expensive for a single person. To make the list, the site specializing in personal finance tracked the annual living expenses for a single person in each state, using data from the Bureau of Labor Statistics' 2023 Consumer Expenditure Survey.
The researchers then doubled the amount required to pay for necessities to determine what they consider to be a living wage that would allow citizens to have a surplus to save and indulge in things other than spending on basic needs.
In that regard, four of the top five most expensive states for a single person are governed by Democrats. "Because the cost of goods has increased so much, the living wage needed for a single person has also risen across the country. But how much you need to live varies dramatically by state," said GOBankingRates.
Of all the states, Hawaii is the most expensive, according to the survey. A living wage is considered to be $112,411 a year. Massachusetts, California, New York and Alaska round out the top five most expensive states for a single person.
Meanwhile, Mississippi is the cheapest state for a single person. There, it takes $45,906 per year. Oklahoma, Alabama, Arkansas and Kentucky are the other four least expensive states.
