Not all states are created equal when it comes to cost of living. It's simply more expensive to live in some states than others, and for a variety of reasons.
According to CNBC's Scott Cohn, there are 12 states in particular that have a higher cost of living than most. At the top of the list is California.
Cohn looked at many factors to come up with his conclusions, including consumer price index, the annual cost of homeowner's insurance, the average home price, total energy bills and even the cost of eggs.
Cohn notes that 40% of homeowners and renters in California spend over one-third of their incomes for their homes, which is the highest rate of any state in the United States.
Homeowners in the state are, on average, paying over $2,900 per year for insurance, and a 17% increase in rates for State Farm customers went into effect in June. By the way, State Farm initially asked for a 22% hike.
In a place like San Jose, for example, the average home price is an astounding $1.86 million, and in Orange County it's $1.48 million.
Other states making the list were Hawaii, Florida, Colorado, Oregon, New York, Massachusetts, Maryland, Washington, Texas, Louisiana and Arizona.
Manhattan in New York City sported the highest average home price of any location mentioned on the list, coming in at a whopping $2.775 million.
Related: Study Finds Best and Worst States for Business in 2025
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