Link to join StockHub free investing discord server: –~–
Good day subscribers thank you so much for joining me today i am jeremy and this is the financial education channel and today we’re talking about the cheapest states to live in and then at the end i’m going to share with you guys the most expensive states to live in i know a lot of my subscribers or people that are in high school in college or in the gauge group of
25 to 34 that may think about moving out of their home state if you still live there and you’re thinking about reaching out branching out go and see in a different part of the world go and live in somewhere else so today this video shall be very helpful to share with you guys maybe possibly some good places to move to if you are interested so the top five places
I looked at first off the list i looked at was a list that gave three factors extreme amount of preference it was home cost so housing affordability it was gasoline prices and it was electricity bill average electricity bill now those three things are extremely important because they’re generally the three biggest expenses in every normal person’s life those three
Are the generally speaking the most expensive things that someone spends money on through the course of a year asks any adult anybody who’s watching this who lives on their own those are the main things you spend your money on your mortgage or your rent your electricity bill and or your gas however much gas you spend unless you work at home and then you got a good
So the top five states were all in the south we’re talking about tennessee arkansas alabama what were the other ones in there a couple other southern states they were all in the south all the top five were all in the south now i was trying to figure out why is this well one the south has generally speaking it’s much smaller homes a lot of those states have smaller
Homes because they were built a long long time ago this is good for a couple reasons one it keeps the housing prices down to it not that it’s i guess you would say you don’t spend as much on electricity in a smaller house obviously as you do a larger house so if you’re living in a place it’s a thousand square feet versus living in a place where it’s 2,000 square
Feet you spend a much less on electricity each year and then you tack on that the gas prices in the south are very cheap i don’t know why this is i think is because there’s a lot of refineries that are closed over there but the south is extremely cheap oh louisiana was another place that was on the top five and then you’re taking to effect that the south doesn’t get
Super hot and it doesn’t get super cold so the climate naturally is better for your electricity whereas if you live in somewhere that’s super hot your electricity bills going to be very expensive because you’re going to spend an insane amount of money on ac in the summertime if you live in a place that’s super cold you’re going to spend a ton of money on heating
So if you live up in the northwest or somewhere like that or basically anywhere up in the north you’re going to spend a lot of electricity in the wintertime so a few other places that would have probably ranked higher on the list but they had a couple things working against them was like arizona and nevada both those states have very very low housing prices the
Reason being is a lot of people moving to those states and the land to clear is very cheap because you’re just clear in desert you’re just clearing a bunch of rocks and there are a lot of home building companies that are competing in those two states so that drives prices down a bit but but the two things i heard it with gas prices which gas prices are not cheap
In those places they are not super expensive either but they’re not cheap in electricity bill in those two states you get killed in the summertime on electricity if you want to live in one of those two states and electricity bill in an average home so it’s say 2000 2500 square feet you’re looking around 400 to 500 dollars ac bill per month per month and you do
That for five months straight because you got to start in may because that’s when summer starts their may june july august september five months you’re running your heat or your scooter near a c4 in you’re looking at four to five hundred dollar bill each month if you live in a normal sized home then you take an account if you live in a 3,000 or 4,000 square-foot
Home you’re looking at six to seven hundred dollars per month on electricity it is unbelievable so that’s why those two states didn’t rank as high on this list if we were just going off with a housing affordability they would have ranked much higher so that gives you some ideas on if you want to live cheap and you want to live in a state that basically is more
Affordable and of course this didn’t go into who’s got the highest minimum wage who you know who has the lowest unemployment all those kinds of thing that might be a different video i doing some day where we’re talking about overall state best states to live in based upon all different factors not just a cheapest this video is just about the cheapest and the most
Expensive so the most expensive state tell me what it is i can guarantee you your first thoughts were either new york or california and neither one hawaii hawaii is the most expensive so many of us forget even hawaii exists unless we’re going on vacation in hawaii is naturally the most expensive the average home price in honolulu for example but just under a
Million dollars nine hundred and forty five thousand dollars average home price it’s insane and then everything there pretty much has to be shipped in from some other place somewhere in the united states or some other country because it’s just a little you know very small islands they can’t be self producing on all different types of things so you know it is so
Expensive to get everything shipped in and we’re talking produce and all those types of things so if you’ve ever been to hawaii and you’ve gone to a grocery store you know how expensive it is it’s ridiculous ridiculously expensive so on hawaii’s number one number two is new york come to be expected manhattan’s ridiculous even the suburbs in new york are expensive
Even a lot of the places you want to live in in new york are ridiculously expensive so no surprise in new york’s number two and also new york gets very very very cold in the wintertime so your electricity pill in the winter times can be very expensive if you live in new york california number three this comes as no surprise again housing prices are way up there
In california it is insane gasoline prices about the most expensive in the entire united states so that comes as no surprise electricity bill you get a bit of a break out there because the climate is very very calm in most of the areas and so it doesn’t get super cold it doesn’t get super hot anything like that so electricity is a little lower but the housing so
High and the gas is so high that that’s what makes california such an expensive place to live in so i hope this gave you guys some ideas on where you might want to live at some point in your life or if you’re looking to move where you might want to move and a lot of people still do move to new york move to california their populations are barely growing at all
Because of the expenses but you know people still move to those kind of places and of course wages are higher in those places but i don’t want to even get into that that’s a video for some other day so um thank you guys for watching us subscribers what do you think about the new pillows are they cool not cool what do you think i’m gonna keep them up there anyways
Regardless of what everybody thinks because 94% of my views over 94% of the views on this channel are not even subscribers so i’m trying to encourage people to subscribe maybe they get the hint maybe they don’t we’ll see anyways thank you so much for watching guys as always if you haven’t subscribed you may want to i talk a ton about personal finance like today
Talk about investing being a successful investor i talk about entrepreneurship and being a young entrepreneur anyways thank you so much for watching guys and have a great day
Transcribed from video
Cheapest States to Live in! | Most Expensive States to Live in! By Financial Education
