What is the U.S. Cost of Living?

Personal Finance

Living in the United States may be cheaper than other countries, but the cost of living can be considered quite high. To calculate the cost of living in the United States, you add the average price of housing, utilities, groceries, gas, clothes, and everything else needed to live. On average, the U.S. cost of living would require a salary of at least $28,458 for one adult with no children. It increases to $56,176 with two adults and one child, and grows even higher with four children—requiring $82,871.

This number is the average of every state within the country, which can be a little misleading. Some states have a much higher cost of living. For example, living in Alabama will have a lower cost of living when compared to New York because housing, utilities, groceries, and other expenses have a much lower price tag. To understand the true U.S. cost of living, it is best to look up the cost of living by zip code or state.

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