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Aug 20, 2014
2:55:28pm
Somewhat misleading if it ignores taxes and insurance costs. TX and OK are...
...examples of states where costs of living are inexpensive, but property taxes in TX are brutal, and homeowner's and auto insurance costs in both of these states are among the most expensive in the country. Does saving something like $30/month on gas and $40/month on groceries make up for paying $$$$+ in these other areas? A true "cost of living" analysis needs to take into account state taxes (income, sales, property) and insurance costs (home, auto).

Here's a link for thinking about homeowner's insurance, for example: http://www.valuepenguin.com/average-cost-of-homeowners-insurance

Here's a quick link for property taxes: http://www.tax-rates.org/taxtables/property-tax-by-state

...and auto insurance: http://www.forbes.com/sites/jimgorzelany/2012/03/08/states-with-the-highest-and-lowest-auto-insurance-rates/

So...your dollar may go far for consumer products in AR, TX, OK, LA, and MS, but you may wind up paying FAR more for insurance and/or taxes in those states. Make sure you think about all costs before deciding where your dollar will go farthest.
This message has been modified
Originally posted on Aug 20, 2014 at 2:55:28pm
Message modified by CougaReb on Aug 20, 2014 at 3:00:22pm
CougaReb
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