Cost of Living · Updated June 2026
State cost of living comparison with housing costs
Strip housing out of state comparisons and most states look alike; put it back in and the map reorganises. This comparison keeps housing exactly where it belongs – as the dominant line – showing median prices, rents, and the property taxes that turn sticker prices into carrying costs.
The asymmetry is stark: California's $800k median home carries ~$500/month of property tax at 0.75%, while Illinois' $280k median carries ~$490 at 2.11% – nearly identical tax bills on homes priced 3× apart. Carrying cost, not sticker price, is the comparison that matters.
Cost of living calculator
Equivalent salary
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Composite 2026 index incl. centre rent (NYC = 100). Salary figures are gross – taxes not included; pair with the salary after tax calculator.
Key insights
Key insights
- Carrying cost = mortgage + property tax + insurance – compare that.
- CA and IL pay near-identical property tax dollars on 3×-different homes.
- TX/FL insurance + property tax add $500–800/mo to "cheap" homes.
- Equity-rich movers can zero the mortgage line in sub-$350k states.
- High taxes pass through to rents with a 1–2 year lag.
| State | COL index | Income tax | Sales tax | Property tax |
|---|---|---|---|---|
| Tennessee | 90 | None | 9.6% | 0.48% |
| Indiana | 91 | 2.95% flat | 7.0% | 0.84% |
| Michigan | 91 | 4.25% flat | 6.0% | 1.24% |
| Texas | 92 | None | 8.2% | 1.58% |
| Ohio | 92 | 2.75% flat | 7.2% | 1.59% |
| Georgia | 92 | 5.19% flat | 7.4% | 0.72% |
| Illinois | 94 | 4.95% flat | 8.9% | 2.11% |
| Pennsylvania | 95 | 3.07% flat | 6.3% | 1.41% |
| South Carolina | 95 | ≤ 6.2% | 7.5% | 0.46% |
| North Carolina | 96 | 3.99% flat | 7.0% | 0.63% |
| Minnesota | 97 | ≤ 9.85% | 8.0% | 0.98% |
| Nevada | 101 | None | 8.2% | 0.55% |
| Florida | 102 | None | 7.0% | 0.79% |
| Virginia | 102 | ≤ 5.75% | 5.8% | 0.72% |
| Utah | 103 | 4.55% flat | 7.3% | 0.55% |
| Arizona | 103 | 2.5% flat | 8.4% | 0.56% |
| Colorado | 105 | 4.4% flat | 7.8% | 0.55% |
| Oregon | 110 | ≤ 9.9% | 0.0% | 0.86% |
| Maryland | 113 | ≤ 5.75% | 6.0% | 0.95% |
| Washington | 114 | None | 9.4% | 0.84% |
| New Jersey | 115 | ≤ 10.75% | 6.6% | 1.77% |
| Connecticut | 116 | ≤ 6.99% | 6.3% | 1.78% |
| New York | 123 | ≤ 10.9% | 8.5% | 1.54% |
| Massachusetts | 127 | 5% flat | 6.3% | 1.04% |
| California | 134 | ≤ 13.3% | 8.8% | 0.75% |
Sticker price vs carrying cost
Monthly carrying cost = mortgage on ~80% LTV at 2026 rates (~6.3%) + property tax + insurance. Texas' cheap homes carry expensive: 1.58% property tax plus elevated insurance adds $700+/month on a median home versus the same house in a low-tax state.
For renters, the transmission is muted but real: high property taxes and insurance pass through to rents with a lag, which is why Florida rents outran its index after 2022.
Where the housing math changes decisions
Equity-rich movers from coastal states can often buy outright in sub-$350k-median states – eliminating the mortgage line entirely turns a 110-index state into an effective 75 for them. Housing-adjusted comparisons should always be run against your actual buying power.
First-time buyers face the inverse: high-index states demand down payments that delay purchase by years, making the rent-vs-buy calculators the natural next step from this page.
FAQ
Frequently asked questions
Which states have the best housing affordability in 2026?
Ohio, Indiana, and Michigan: median homes $240–250k, property taxes manageable, putting all-in carrying costs near $1,600–1,900/month – below many states' rents.
Why do Texas homes cost more than the price suggests?
A 1.58% effective property tax (top-3 nationally) plus high hail/wind insurance adds roughly $700–900/month on a median home versus the same price in a low-tax state.
How do I compare states if I'm paying cash?
Drop the mortgage from carrying cost; your comparison collapses to property tax + insurance + the non-housing index, which flatters high-price/low-tax states like California less than you'd expect – and low-price states enormously.
Do high property taxes affect renters?
Yes, with a lag – landlords pass through taxes and insurance over 1–2 lease cycles. Florida and Texas rents both reflect this post-2022.
What mortgage rate do these comparisons assume?
2026 typical 30-year fixed of ~6.3%; the rent vs buy calculator lets you stress any rate.
Keep exploring
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