All articles tagged with #costofliving
A CNN reporter travels four U.S. cities to show the affordability crisis isn’t just data: surging rents, childcare costs, and stagnant wages are eroding the middle class and reshaping the American dream, with everyday families like Jolene, Phebie, and Mayra illustrating how structural forces—beyond numbers—leave people living on the edge and feeling unseen.
CNBC’s 2026 ranking of America’s Top States for Business highlights cost of living, housing affordability, and insurance costs, naming West Virginia the cheapest state to live in, with Missouri, Ohio, Kansas, Iowa, Indiana, Wyoming, South Dakota, Alabama, and North Dakota also among the most affordable. The analysis uses the Cost of Living index, rent as a share of income, home prices, and typical monthly expenses like energy and groceries to show how affordability varies by state.
Inflation rose 3.8% in April 2026 while average hourly earnings grew 3.6%, marking the first time in three years that inflation outpaced wage growth and shrinking purchasing power for many households. Price pressures from energy and groceries hit different groups unevenly, with wage gains varying by industry and region. The piece also discusses budgeting and hedges against inflation, including real estate investments via Arrived and gold-backed retirement options, as potential ways to protect nest eggs.
Brookings’ States of Affordability introduces a county‑level cost‑of‑living measure and finds that 45.5% of US households could not make ends meet in 2024, with wide variation by state and race; the report shows wages haven’t kept pace with productivity, reveals persistent racial disparities, and estimates that raising wages by $10/hour or cutting costs by $500/month could bring millions more households into affordability, underscoring the need for tailored state policies as the series explores drivers of affordability.
A CBS News/YouGov poll shows California voters are focused on the cost of living and the economy as the state’s governor race remains highly unsettled, with a fractured Democratic field and Republicans emphasizing change and lower taxes. Democrats favor a candidate with policies similar to Gov. Newsom and an anti-Trump stance, while Republicans seek a candidate who would back Trump. Debates are influential, housing and tax policy are top priorities (Democrats favor more housing; Republicans call for tax relief), and gas prices spur discussion on suspending the gas tax. Voter preferences are heavily undecided, and independents want more choice, leaving a volatile final month ahead.
A GobankingRates analysis for 2026 finds that, based on average retiree expenses, $1 million won’t last 20 years in any U.S. state. The longest-lasting affordable states are Oklahoma and Mississippi at about 19 years, while expensive states like Hawaii, Massachusetts, and California can deplete the funds in roughly 9–12 years. The study’s estimates exclude investment returns and other income, underscoring how cost of living by state drives retirement longevity and suggesting the Southeast or Great Plains may offer more breathing room.
Portland, Maine, tops RentCafe's list of the most livable U.S. cities, balancing quality of life and community engagement despite a higher cost of living. The list, which evaluates socioeconomics, location, and quality of life, includes cities like Lincoln, Nebraska, and Des Moines, Iowa, which offer lower living costs. The rankings highlight the Midwest's affordability, with Portland standing out for its healthcare and educational opportunities. Personal preferences and budget considerations remain crucial in choosing the best city to live in.
A Go Banking Rates study reveals that $1 million in retirement savings will last approximately 14 years in California, considering an annual cost of living of $72,319.57. The study, which used data from the Bureau of Labor Statistics and the Missouri Economic Research and Information Center, highlights the varying longevity of retirement funds across different states, with some states like Mississippi and Oklahoma stretching a $1 million fund to about 22 years, while in New York and Hawaii, it would last less than 15 years. Financial experts suggest saving at least 15% of annual income for retirement, but emphasize starting with what is feasible.
A study by United Van Lines has revealed that New Jersey topped the list as the state with the highest percentage of outbound moves in 2023, marking the sixth year in a row. With 65% of moves being out-of-state, factors such as retirement, lifestyle changes, and the high cost of living are driving the exodus. Illinois, North Dakota, New York, and Michigan also feature in the top five states people are leaving.
In the United States, an increasing number of consumers are canceling their streaming service subscriptions due to rising costs and the growing financial burden of the cost of living. Crystal Revis, a mother from Florida, exemplifies this trend by dropping her Disney+ and Paramount+ subscriptions and contemplating whether to cancel Netflix as well, despite its popular content.
Starting January 1st, Arizona's minimum wage has risen from $13.85 to $14.35, with a plan to reach $15 by 2025. La Indita's manager, Josue Rivera, supports the increase despite the challenges it poses to his business, acknowledging the need due to rising living costs. To cope with the wage hike and increased food prices, La Indita has slightly raised its prices. Arizona joins 23 other states in raising the minimum wage in 2024.