The Bureau of Economic Analysis reports that regional price parities measure price level differences across states and are expressed as a percentage of the national average.
California currently has the highest relative cost of living, being 12.6% more expensive than the national average, primarily due to high housing costs.
New regional price parity data revealed that 16 states and Washington, DC, have goods and services priced above the national average, exacerbated by high rents.
Hawaii's regional price parity index of 108.6 indicates a 9% increase over the national average, showing significant cost variations across states.
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