Study Says New England’s Least Expensive State to Live in is Maine

It isn't exactly a secret that things have gotten a lot more expensive across the country. From gasoline for vehicles to necessities at the grocery store, the price of important items just won't stop getting higher.

One of the worst examples of inflation has been housing. Whether renting or attempting to buy, housing is at a premium and has left many in very uncomfortable financial position.

That's especially true in Maine. The Pine Tree State is now just one of 22 states in the nation where a household income of $100,000 or more is needed to purchase just a standard home.

That might lead one to believe Maine has become one of the most expensive states to reside in throughout New England. But according to a recent study from 24/7 Wall St, Maine is actually the least expensive state in New England to live in.

Maine's average cost of living is 9.9% higher than the national average. As noted above, housing remains the most expensive problem for Maine. Housing costs in the state are 17.7% higher than the national average.

But people in Maine might be surprised to find that groceries in Maine are only 1.8% higher than the national average. Maine also ranks in the middle of the pack when it comes to average gas prices as well.

The most expensive state in New England? That would be Massachusetts. The cost of living in Massachusetts is a whopping 46.6% higher than the national average. Housing costs are a staggering 118.5% higher than the national average.

The 24/7 Wall St study does cement one notion as being true. It's expensive to live in the New England region. Every New England state was listed in the top 15 most expensive states to live in the country right now.