Not everyone can tolerate company. Living alone might be the utopia of such people. Under such conditions, an apartment occupant gets to call the shots. So, all the decisions that boil down to personal preference are uncontested. A person living alone can turn off the heat, even in winter, to save on power bills. However, such frugality may be difficult when the apartment is shared.
In a recent survey, GOBankingRates collated a list of the cheapest and most expensive states for singles. The personal finance website used data from the Bureau of Labour Statistics (BLS) to arrive at accurate conclusions.
So, GOBankingRates used figures highlighting the annual cost of necessities, savings, and expenses of singles. These expenses will amount to the sum a single person would require to subsist in an economic year.
The statistical study by GOBankingRates infers that Hawaii, Massachusetts, and California are the most expensive states for singles to live in. On the contrary, Mississippi, Oklahoma, and Alabama are the cheapest states for US singles to adopt as their nest.
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Judging by the latest BLS data, the average annual income of Americans hovers around $58,200. So, the study adopts this sum as the reference for comparing the amount a single will require to get by in each state.
Hawaii tops the list of most expensive states for singles. A Hawaiian resident living alone will require a minimum annual income of $112,421. Massachusetts comes in second at $87,898. New York is not far behind a minimum annual income of $80,002.
BLS’s estimates imply that a single person must make over $58,200 annually to live in any of the three high-income states. However, if you are not in a relationship and are not ready to cohabit, the following information may be a lifesaver. The following states have the lowest living expenses for single residents.
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With an income of just $45,901 annually, you would conveniently foot your bills in Mississippi. It is by far the cheapest state for singles. One reason is that the most significant income guzzler—rent—is quite affordable here. The second cheapest state for singles is Oklahoma, with the lowest annual salary of $46,017. Third on the list is Alabama, trailing with a yearly income of $46,534.
With the foregoing figures, life is getting tougher for single Americans residing in the expensive states. Some have, however, sacrificed their privacy and personal preferences to settle monthly bills. What most single people do in such states is to get accommodation with someone else and split the bills.
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Moving to cheaper states may be an option for singles with flexible jobs. However, with many organizations removing work-from-home waivers, the ability of singles to relocate between states may be difficult.
Summarily, it is presently cheaper to couple up in the US. For people bent on leading a single’s life, the options are quite few and, in some cases, expensive.
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