Take a look at the below list of Top 10 most expensive states in the world in 2016 and 2017. The world is the most beautiful planet in the solar system and there are many beautiful places all over the earth some of them are worth it. Every good thing comes with a price and that price is always high. There are places on earth that are worth living but there are some places where the cost of living is very high but the average income very less. So here is a list of top 10 costly or most expensive states to live in the world now.
The details given below are as per the yearly income of people their major expenses and the reasons behind the same.
List of the world’s top 10 most expensive states in 2016-2017
10. Nevada (Net Worth as per Yearly income of people – $40,200)
With $40,200 medium income in the state, that is lesser than the nation-wide median, this state’s high cost is made more difficult to manage. With lot of the state’s citizens focused in the Las Vegas, food fees are 16.9 percent advanced in this state than the nation-wide average. Child care prices are also beyond average in state, at $8,300 for 4-year-olds and $10,200 per year for whole-time child care. With no paid leave for the workers this state is on the 10th position.
9. Alaska (Net Worth as per Yearly income of people – $42,979)
With a national income of $42,979 which is the highest in the US its income is co-ordinated with housing costs and high food. The cost of groceries and household products is 26 percent more than normal. Where monthly rents go above $20,000 a year and the costliest part of living in Alaska is child care which is the costliest in the world and takes always almost 30 percent of your salaries. This is a very famous tourists spot and in order to earn profits the businessmen have increased rates considerably more than average.
8. Montana (Net Worth as per Yearly income of people – $43,893)
Montana has the ninth last middle income in the country. The salary of people is as low as just $43,893 a year which is less than most of the sates in the world. With global prices rising high these days there is a big hike in the prices of products in Montana. The families pay more for housing and food than they can have enough money. Child care charges cost families $8,500 a year for a new-born and $7,705 for a Four year old with low income and high cost of living this place is the costliest in terms of house rent which consumes most of the salary people get.
7. New Mexico (Net Worth as per Yearly income of people – $44,500)
New Mexico families suffer for lower earnings and higher prices Mexicans are the most well-known race on earth but a fact about them is that they are one of the least paid people in the world now as well. Yet they face housing values that are close by the nation-wide average. While this state has worse child care expense than numerous states, the condition is as such that one cannot think of having more than two children. Due to the high cost of living there this place is the costliest in terms of house rent which consumes most of the salary people get.
6. Oregon (Net Worth as per Yearly income of people – $60,000)
The state offers no paid leave to the workers in any organisation or firm. And the salary is also just above $60,000 year and the food costs are the fifth highest in the country with 19.6 percent higher than the state average. Making it harder for the families to get by even with a state median income of $54,106 this is just above the national median. Tourists on an average spend $10,000 if they are coming for a vacation to this state and Oregon stands in number 8 position in the list.
5. Hawaii (Net Worth as per Yearly income of people – $60,800)
Raising a family in the Aloha State is very expensive. The people living here will still discover it tougher to balance their funds than most other Americans. This is a very famous tourists spot and in order to earn profits the businessmen have increased rates considerably more than average. As this is the most loved and visited place on earth for tourists and multiple resorts and 7 and 5 star hotels and world famous markets this is most costly place on earth to live.
4. New York (Net Worth as per Yearly income of people – $61,000)
New York does not have any parent leave policy. It has the highest costs child care in the nation, with on an average people spend more than precaution for a school child is particularly high, costing 25 percent additional the next-expensive state price for the age group for families alive in New York. This is the biggest and costliest and well known state in the world has the costliest household market in the world and comes in the 4th position in top 10 most costly states to live in.
3. Florida (Net Worth as per Yearly income of people – $63,800)
Florida is one of the most well-known states in the world with millions of tourists visiting this state the standard of living of people has gone way high than normal. The average rent of a normal 2bhk flat is approximately around $1460 that is almost 20 percent of a person’s total monthly income. The main thing or reason behind this hike in rates and costs of products is tourism, as when tourists come they are willing to pay high prices for whatever they want or need hence the price in the local markets have increased. Florida is well known as one of the top 10 most costly places to live in.
2. Massachusetts (Net Worth as per Yearly income of people – $64,600)
While the average revenue in the state is $64,600, both monthly rents and house listings in this state are the third highest in the country. The median monthly rent of $2,100 eats up 40 percent of the income and states with median monthly income of $5,400. The state offers 24 hours of voluntary leave each year for the government workers. Child cares maybe a little cheap due the efforts of the government but apart from that the cost of everything is quite high.
1. Connecticut (Net Worth as per Yearly income of people – $67,907)
The Connecticut offers the third highest income in the country, which is $67,907 in a year. Higher earnings in the state are coordinated by higher living costs, there is a high child care values in the state. The main concern for any family would be childcare which number 1 on priority list is if you have a child to take care of. An average family spends 30 percent of the income on childcare alone, which comes housing goods expenses. Connecticut has the costliest household market in the world and comes in the 1st position in top 10 most costly states to live in.
Thus, these are the top 10 most expensive states in the world. These states cannot be afforded by many families because of its expense. The most costly among all these states is Connecticut where we can find everything at a higher price.