Special Report

The Income a Family Needs to Cover Normal Living Expenses in Every State

Source: John Moore / Getty Images News via Getty Images

Colorado
> Annual cost of living (family of 4): $92,197 (11th highest)
> Annual housing costs (family of 4): $17,157 (8th highest)
> Annual food costs (family of 4): $10,384 (13th highest)
> Median family income: $92,752 (8th highest)
> Families earning less than $10,000: 2.4% (5th lowest)

Source: Spencer Platt / Getty Images News via Getty Images

Connecticut
> Annual cost of living (family of 4): $95,550 (6th highest)
> Annual housing costs (family of 4): $17,127 (9th highest)
> Annual food costs (family of 4): $10,910 (6th highest)
> Median family income: $102,061 (4th highest)
> Families earning less than $10,000: 2.7% (15th lowest)

Source: ChrisBoswell / Getty Images

Delaware
> Annual cost of living (family of 4): $87,980 (15th highest)
> Annual housing costs (family of 4): $14,037 (17th highest)
> Annual food costs (family of 4): $10,169 (16th highest)
> Median family income: $84,825 (17th highest)
> Families earning less than $10,000: 2.9% (23rd lowest)

Source: TerryJ / Getty Images

Florida
> Annual cost of living (family of 4): $82,998 (25th highest)
> Annual housing costs (family of 4): $15,232 (13th highest)
> Annual food costs (family of 4): $10,385 (12th highest)
> Median family income: $69,670 (11th lowest)
> Families earning less than $10,000: 3.7% (17th highest)

Source: usdagov / Flickr / Public Domain

Georgia
> Annual cost of living (family of 4): $78,192 (13th lowest)
> Annual housing costs (family of 4): $12,152 (25th lowest)
> Annual food costs (family of 4): $9,507 (22nd lowest)
> Median family income: $74,127 (19th lowest)
> Families earning less than $10,000: 4.1% (11th highest)

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.