The Cost Of Living In US States Compared To European Countries, Mapped #adessonews

Though inflation is cooling across the US, the cost of living is still a source of considerable stress for Americans, with 67 percent of workers saying the price of everyday goods and services is outpacing the growth of their earnings. But have you ever wondered how different, or similar, things are across the pond?

To illustrate how the cost of living in America compares to Europe, SmartAsset analyzed the basic monthly costs for a single adult across the 50 US states and 38 European countries in 2023. The below map shows which country in Europe each state most closely resembles when it comes to the cost of living.

Key Findings:

• The cost of living gap is wider between European countries than US states. The median cost of living in the US ($2,508) might be higher than in Europe ($1,746), but the gulf between the most expensive and most affordable European countries is bigger.

• Switzerland, home to Europe’s highest monthly cost of living ($4,059), is 4.5 times pricier than the continent’s least expensive country, Bosnia ($900). In the US, the state with the highest cost of living is Hawaii ($3,167), while the most affordable state is Kentucky ($2,275).

• Living costs are more in the cheapest US states than in most of Europe. Though Kentucky is the least expensive place to live in the US, 26 European countries — including France ($2,240), Sweden ($2,100), Italy ($1,743) and Spain ($1,719) — are all more affordable.

• The Carolinas are most similar to Germany when it comes to the basic living costs of a single person. A single German with no kids needs around $2,503 a month to get by, which isn’t far off South Carolina’s $2,501 and North Carolina’s $2,492.

• The cost of living in both California and New York is closest to Denmark. The median costs for a Californian and New Yorker are $3,155 and $3,126, respectively, while Denmark is ever so slightly more expensive at $3,176.

• Living in Colorado and New Jersey costs a similar amount to the UK. A single Brit with no children can live on a median of $2,827 per month, and the same person would spend $2,843 in Colorado and $2,798 in New Jersey.

• Virginia and the Netherlands are almost identical when it comes to basic monthly living costs. The median cost of living in Virginia is $2,788, while the Netherlands costs just a fraction less at $2,776.

Via SmartAsset.