Inflation Alert: Grand Rapids Residents Spending 7% More on Bills in 2024
This article originally appeared on MIX 95.7
By Laura Hardy
Inflation is hitting us everywhere these days. From rent and food, to our utility bills, it’s getting more and more expensive to maintain the lifestyle you’ve been living all along. And, it doesn’t help that most of us aren’t getting raises that cover these price hikes.
And if you feel like you’re the only one wondering why your budget isn’t going as far, you’re not alone. A recent report from doxo unveils a startling truth: Americans collectively dish out a jaw-dropping $3.35 trillion yearly on household bills. That’s a hefty $2,126 per month, or $25,513 annually per household, marking a 4% increase from last year.
But let’s zoom in on Grand Rapids. Here, the average household pays $1,887 monthly, totaling $22,644 annually. That’s a significant 7.9% surge from last year, surpassing the national average increase. So if your wallet is hurting, it’s not shocking. But, it could be worse.
Despite this, Grand Rapids residents are spending 11.2% less than the national average and slightly below the state average. Don’t start packing your bags just yet. While Grand Rapids isn’t the priciest city in Michigan for household bills (it ranks #101), residents still shell out a hefty 32% of their income on these expenses.
So yes, your bills have gotten bigger in the last year if you’re living in Grand Rapids, but the grass isn’t greener on the other side. The bottom line? The cost of living is a real concern for Americans everywhere. Whether it’s finding ways to cut back or smarter budgeting, managing household bills is more crucial than ever.
These are the top 20 states across the country, including the nation’s capital, where the average cost of living is the highest, according to data compiled by the Missouri Economic Research & Information Center. The average cost of living index is 100, which indicates the national average of all 50 states. The index includes cost factors such as groceries, housing, utilities, healthcare, transportation, and more. All states listed below are above that baseline.
#20 Most Expensive – Virginia
Virginia is the 20th most expensive region with an average cost of living index at 101.9.
#19 Most Expensive – Montana
Montana is the 19th most expensive region with an average cost of living index at 102.9.
#18 Most Expensive – Utah
Utah is the 18th most expensive region with an average cost of living index at 103.2.
#17 Most Expensive – Colorado
Colorado is the 17th most expensive region with an average cost of living index at 105.1.
#16 Most Expensive – Arizona
Arizona is the 16th most expensive region with an average cost of living index at 108.4.
#15 Most Expensive – Maine
Maine is the 15th most expensive region with an average cost of living index at 109.9.
#14 Most Expensive – Rhode Island
Rhode Island is the 14th most expensive region with an average cost of living index at 110.7.
#13 Most Expensive – Connecticut
Connecticut is the 13th most expensive region with an average cost of living index at 112.8.
#12 Most Expensive – New Jersey
New Jersey is the 12th most expensive region with an average cost of living index at 113.9.
#11 Most Expensive – New Hampshire
New Hampshire is the 11th most expensive region with an average cost of living index at 114.1.
#10 Most Expensive – Oregon
Oregon is the 10th most expensive region with an average cost of living index at 114.7.
#9 Most Expensive – Vermont
Vermont is the 9th most expensive region with an average cost of living index at 115.3.
#8 Most Expensive – Washington State
Washington State is the 8th most expensive region with an average cost of living index at 116.0.
#7 Most Expensive – Maryland
Maryland is the 7th most expensive region with an average cost of living index at 116.5.
#6 Most Expensive – Alaska
Alaska is the 6th most expensive region with an average cost of living index at 125.2.
#5 Most Expensive – New York
New York is the 5th most expensive region with an average cost of living index at 125.9.
#4 Most Expensive – California
California is the 4th most expensive region with an average cost of living index at 138.5.
#3 Most Expensive – Massachusetts
Massachusetts is the 3rd most expensive region with an average cost of living index at 146.5.
#2 Most Expensive – Washington, D.C.
Washington DC is the 2nd most expensive region with an average cost of living index at 146.8.
#1 Most Expensive – Hawaii
Hawaii is the most expensive state in the nation with an average cost of living index at 180.3.
More analysis including data on all 50 states plus DC can be found here.