Mass. most expensive state for a family to live comfortably, study says

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By Boston25News.com Staff

A new study is reiterating the high cost of living in Massachusetts.

Massachusetts is the most expensive state for a family of four to live comfortably, according to a new study.

According to SmartAsset, a family’s income needs to be $313,747 to live comfortably in Massachusetts, the highest in the nation.

Massachusetts is also the second most expensive state for a single adult to live comfortably, with an estimated figure of $120,141. Only Hawaii ranks as more expensive for a single adult. Connecticut follows closely behind in third place with an estimated $290,368 needed.

SmartAsset assembled the ranking by analyzing data from MIT’s Living Wage Calculator and applying the income to a budget where 50% of household income goes to necessities, 30% to desires, and 20% to savings or debt repayment.

The full Top 10 ranking for the most expensive states for a family of four is as follows:

  1. Massachusetts
  2. Hawaii
  3. Connecticut
  4. California
  5. Vermont
  6. New Jersey
  7. Washington
  8. New York
  9. Colorado
  10. Oregon

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