MA Is The 2nd Most Expensive State For Living: Study

MASSACHUSETTS — Massachusetts is ranked second in the country on a list of states with the highest cost of living, but there is a catch, according to a new analysis from Forbes Advisor.

At an average of $53,860 annually, it costs more to live in Massachusetts than it does almost anywhere in the country, surpassed only by Hawaii at $55,491, the analysis says.

True as that may be, it's offset by two more key facts: Massachusetts also has the highest average annual salary at $80,329 and ranks fifth on the list of states with the most disposable income at $26,470 a year.

See Also: MA Is The State With The Best Public Schools, Analysis Says

Compare that to the situation in Hawaii, which was named the most expensive state in terms of cost of living but also the state with the lowest disposable income at $9,550.

Meanwhile, Mississippi has the lowest cost of living in the country. Residents spend an average of $32,336 per year on essential expenses, according to the analysis.

Learn more at Forbes Advisor.