Heartbreaking map shows states struggling the most amid cost of living crisis.Vuong

 

Shocking new research has revealed the scale of the cost-of-living crisis across the US and shown which states have been hit the hardest.

Debt relief experts at TurboDebt examined 13 separate factors relating to the cost-of-living crisis including cost of groceries, bills and income. Each factor was given a weighting and an individual score out of 10 within the research, before being given an overall score out of 100 to determine which states are struggling the most.

Once all the numbers had been tallied up, Louisiana was found to be the state struggling the most with the cost-of-living crisis. The state achieved a final score of 68.76.

Fellow Southern states Mississippi and Alabama were runners up for those areas struggling with the crisis.

Trump threatens to imprison election officials and all ‘Political Operatives’ if he wins election

US election ‘may decide future of Taiwan’ as China carries out live-fire drills amid chilling WW3 fears

Receiving the highest possible score of 10 for this category, residents in Louisiana spend an average of 9.2per cent of their yearly salary on groceries alone, the most of any state. Thats an increase of 108 per cent compared to Virginia, where residents spend the least at just 4.43 per cent.

The state also scores a 10 for the percentage of the population that is unable to pay its energy bills, at a massive 27.66 per cent. Furthermore, the Pelican State has the third-lowest average income in the US, at $55,244 a year, earning another high score of 9.22 out of 10.

Commenting on the findings, Josh Stomel, co-founder of TurboDebt, said: This study is one of the most comprehensive looks at the cost-of-living crisis, analyzing 13 different factors to give a complete picture of how this crisis is impacting Americans across the country.

Its clear from the data that Southern states like Louisiana, Mississippi, and Alabama are feeling financial pressure more than most. These areas are often reliant on industries such as agriculture and manufacturing, which haven’t seen the same economic recovery as other sectors.

While the crisis may look different in each state, the core issue remains the same: millions of Americans are struggling to afford the basics. Without meaningful policy changes, we risk deepening the divide between those who can manage the rising costs and those who are struggling to keep up.

Mississippi was a close second to Louisiana, with a final score of 68.57.

15.8 per cent of adults live in households where there was sometimes or often not enough to eat in the past week, the highest figure in America, earning a score of 10 for this factor.

The state receives two further scores of 10: one because 45.09 per cent of the population experiences difficulty paying their household bills, and another due to the average yearly income being the lowest in the US at $51,879.

In third is South Carolina, with a final score of 62.49.

The state receives a high score of 8.49 out of 10 for its debt-to-income ratio, as South Carolinians carry $1.64 of debt for every dollar earned.

A significant 48.8 per cent increase in house prices from the start of 2021 to the beginning of 2024 results in a score of 8.69 out of 10. Additionally, 8.61 per cent of yearly income is spent on groceries, earning the state yet another high score of 8.77 out of 10.

Alabama is fourth, with a final score of 61.92.

The Cotton State has the fifth-lowest average yearly salary at $58,600, resulting in a score of 8.45 out of 10. This is 38 per cent lower than New Jersey, which has the highest average income of $95,141 a year.

24.22 per cent of the population is unable to pay its energy bills, while 40.77 per cent experience difficulty paying household expenses, earning scores of 7.19 and 7.61 out of 10, respectively.

Florida is fifth, with a final score of 61.86.

An average of 26.79 per cent of yearly income goes toward paying rent, the highest of any state, resulting in a score of 10. In addition, 50.09% of households, the highest in America, spend more than 35 per cent of their income on rent, earning another score of 10.

27.01 per cent of households spend more than 35 per cent of their income on monthly homeownership costs, such as mortgage payments and insurance, receiving a score of 6.77 out of 10.

Sixth is West Virginia, with a final score of 58.19.

27.08 per cent of the population are unable to pay for their energy bills, the third-highest in the States, earning a score of 9.53 out of 10. The Mountain State also has the second-lowest salary, with residents earning an average of $53,842 a year, leading to a score of 9.55 out of 10.

New Mexico is seventh, with a final score of 58.06.

An average of 7.45 per cent of yearly income is spent on groceries, resulting in a score of 6.34 out of 10. Furthermore, an average of 38.19% of the population experience difficulty paying household bills, awarding a score of 6.19 out of 10.

Eighth is Oklahoma, with a final score of 57.95.

Receiving a high score of 8.3 out of 10, the state has one of the lowest average salaries in the US at $59,212 a year. Additionally, 13.03 per cent of adults live in households where there was sometimes or often not enough to eat in the past week, resulting in a score of 6.76 out of 10.

A close ninth is Tennessee, with a final score of 57.67.

The Volunteer State has seen one of the largest increases in house prices since 2021, at 48.77 per cent, leading to a score of 8.68 out of 10. Tennessee also has a high household debt-to-income ratio which scores the state 8.09 out of 10; for every dollar earned, Tennesseans have $1.62 of debt.

Georgia rounds out the top ten, with a final score of 57.04.

43.03 per cent of households spend more than 35 per cent of their income on rent, resulting in a score of 6.39 out of 10. House prices in Georgia also saw a significant rise of 47.8% since the beginning of 2021, receiving a score of 8.4 out of 10.

The research used data from the Federal Reserve, United States Census Bureau, Federal Housing Finance Agency, Numbeo and Redfin. The index used 13 key factors with data from the first quarter of 2021 to the first quarter of 2024, where possible.

Data primarily came from the U.S. Census Bureaus American Community Survey for 2021, 2022, and 2023, with annual averages used where available. To make comparisons easier, the data was converted into percentages.

 

Related Posts

How Barron Trump has been helping dad Donald connect with young men.Vuong

  Barron Trump has been helping his dad connect with young voters by giving him the hot tip on which podcasts to appear on. The older Trump has been appearing…

Read more

Horrific messages sent by ‘world’s worst catfisher’ to victims revealed after girl, 12, killed herself.Vuong

  The sick messages sent by the world’s most prolific catfisher have been revealed. A 26-year-old man – Alexander McCartney – from Northern Ireland, has been sentenced to a minimum…

Read more

Washington Post says Jeff Bezos vetoed endorsement of Kamala Harris.Vuong

  Amazon boss Jeff Bezos has forbidden his paper Washington Post from endorsing any presidential candidate, marking the publication’s first break in 36 years from its traditional endorsement editorial. Bezos,…

Read more

Indiana mom avoids jail after baby boy suffers disfiguring rat attack.Vuong

  An Indiana mom, who admitted to neglect after her six-month-old son was horrifically attacked by a rat, leaving him with disfiguring injuries, has been handed a probation sentence. This…

Read more

Parents of Utah woman accused of killing husband in sleep ‘helped her cover up shooting’.Vuong

  The parents of a Utah woman accused of murdering her husband while he slept have been charged with helping their daughter cover up the murder, it was reported. Jennifer…

Read more

Killer of Illinois teen who vanished 50 years ago in cold case identified after suicide.Vuong

  Police have solved the case of the missing 19-year-old woman who vanished from her Illinois village 50 years ago, but the suspected serial killer died before he could answer…

Read more

Leave a Reply

Your email address will not be published. Required fields are marked *