Special Report

The Most Expensive Town in Each State

21. Boston-Cambridge-Newton, Massachusetts
> City cost of living:
> State cost of living: 107.2
> City median rent paid: $1,207
> City median household income: $72,907

A vast majority of Massachusetts’ 6.7 million residents lives in the Boston metropolitan area. While area residents pay slightly more for all goods and services than people living in other parts of the state, the difference in rent prices is the most drastic. Though rent across Massachusetts is, on average, 21.4% more expensive than rent across the country, rent in the Boston metropolitan area is over 40% higher than the average rent costs nationwide.

ALSO READ: The States With the Weakest Unions

22. Ann Arbor, Michigan
> City cost of living:
> State cost of living: 94.4
> City median rent paid: $930
> City median household income: $59,660

Of the 14 metropolitan areas in Michigan, Ann Arbor is the only one with higher prices than the nation as a whole. Like many metro areas with higher prices, residents are significantly wealthier than in most of the state. Median household income in Ann Arbor is over $10,000 higher than the typical Michigan household income.

23. Minneapolis-St. Paul-Bloomington, Minnesota
> City cost of living:
> State cost of living: 97.5
> City median rent paid: $911
> City median household income: $67,194

ALSO READ: 9 Cities Running Out Of Water

Minneapolis-St. Paul-Bloomington is the only urban area in Minnesota with a higher regional price parity than the state’s. Rochester, the second most expensive metropolitan area in the state, has regional price parity 9% lower than the twin cities’. While Minnesota’s most expensive metropolitan area is slightly more expensive than the state as a whole, incomes in the Minneapolis area are significantly higher. At $67,194, the annual median household income in the Minneapolis-St. Paul in area is over $10,000 more than the median household income of $48,273 across the state.

24. Jackson, Mississippi
> City cost of living:
> State cost of living: 86.4
> City median rent paid: $776
> City median household income: $43,611

Mississippi has the lowest cost of living of any state in the country, with regional average prices nearly 14.0% below the national average prices. Although prices in the state’s most expensive city are about 6% higher than state prices, Jackson is still rather cheap — about 8.5% cheaper compared to national prices. Jackson is about 8% more expensive than the state’s cheapest city, Hattiesburg.

25. Kansas City, Missouri
> City cost of living:
> State cost of living: 88.1
> City median rent paid: $834
> City median household income: $56,248

Though its regional price parity fell slightly from the previous year’s rate of 93.6, Kansas City is the most expensive city in Missouri. However, it is relatively inexpensive on the national scale. On average, goods and services cost 7.3% less in Kansas City than they do in the rest of the country. When compared to Jefferson City, Missouri’s least expensive metropolitan area, Kansas City is actually relatively expensive. Kansas City is 14.7% more expensive than Jefferson City.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.