This week, bill pay service doxo released its annual Household Bill Pay report, which breaks down how much the average U.S. household spends on essentials, including auto loans, utilities, health insurance, mortgages, and rent.
The report found that 32% of American households pay rent and that their average monthly cost is $1,300.
According to doxo’s report, the five states with the highest rent costs also have the highest mortgage costs. This shows that housing continues to be the highest U.S. household expense for many Americans.
For its ranking, doxo used data from the U.S. Census Bureau.
The U.S. state with the highest average monthly rent: Hawaii
Hawaii tops the list of U.S. states with the highest average monthly rent. Residents of the Aloha State pay an average of $1,983 a month in rent, according to the doxo report.
In a separate 2023 doxo report, Hawaii was also determined to be the most expensive U.S. state based on the average cost of household bills. The report found that Hawaii residents spend $3,070 each month, 50% above the national average of $2,046.
In CNBC’s 2022 America’s Top States for Business study, Hawaii also ranked as the most expensive state to live in based on an index of prices for a range of goods and services.
Located on the island of O’ahu, Kailua is the most expensive city in the state.
10 U.S. states with the highest average monthly rent
- Hawaii
- California
- Massachusetts
- New York
- New Jersey
- Washington
- Maryland
- Colorado
- Virginia
- Florida
California has the second-highest average monthly rent in America. Residents of the West Coast state pay an average of $1,927 in monthly rent, according to the doxo report.
A 2023 doxo report found that California’s average cost of bills is $2,838 a month, 38.7% above the national average and 40% of the average household income.
According to 2021 data from the Bureau of Economic Analysis, California’s annual average cost of living is $53,082.
In addition to rent and other expenses, California residents can pay state…
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