With housing costs exploding and years of rampant inflation, nearly eight in 10 Americans are now living paycheck to paycheck, Ringover research shows.
However, the amount of work hours required to fund an average lifestyle varies widely from state to state.
By taking into account eight of the largest living expenses – rent, utilities, medical care, food, transportation, clothing, recreation and domestic vacations – and average salaries, Ringover examined how many hours of work it would take to maintain an average lifestyle in each of the fifty states. .
The study concluded that an average American would have to work 1,372 hours each year, or spend 77.7 percent of their income on a typical lifestyle.
The average lifestyle is the hardest to achieve in the idyllic state of Hawaii.
Hawaii residents must work an average of 1,928 hours per year, which amounts to about 192 hours of overtime at the average job, to maintain a typical lifestyle.
The Aloha State topped the list for its extremely high cost of living.
“This tropical paradise is a cost-of-living nightmare,” Ringover researcher Klarissa Fitzpatrick said of the findings.
The average lifestyle is the hardest to achieve in the idyllic state of Hawaii
“The main reason Hawaii is so unaffordable is housing,” she explained.
‘With an average salary you would have to work about 1137.3 hours just to pay the rent. More time is spent paying rent in Hawaii than in any other state in the survey.”
59 percent of all working hours in Hawaii are spent on rent alone.
Coming in second was Idaho, where workers must work 1,840 hours annually to achieve an average lifestyle.
Closely following in the rankings was Mississippi, which requires 1,628 hours.
In contrast, the most affordable place for an average lifestyle is North Dakota, where residents only have to work 1,042 hours for the same purposes.
Housing was also a key factor behind North Dakota’s affordability.
“There is one notable reason why North Dakota tops the list for the most affordable state on the list, and that is due to its affordable rental housing,” Fitzpatrick wrote.
In Idaho, workers must work 1,840 hours annually to achieve an average lifestyle
North Dakota is the most affordable state for an average lifestyle thanks to affordable rental prices
West Virginia was ranked as the third most affordable state to achieve a typical lifestyle
“Additionally, utilities, clothing and recreation costs all require fewer hours than the U.S. average.”
This was closely followed by Connecticut and West Virginia, which required 1,050 hours and 1,131 hours, respectively.
A worker with an average salary in Hawaii would have to work 886 hours more than his contemporary from North Dakota to achieve the same standard of living.