Connecticut has a higher cost of living than Alaska

It may not be a surprise to hear that CNBC recently ranked Connecticut among the most expensive states in which to live.

What may be surprising, however, is that recent Massachusetts Institute of Technology Statistics suggest the state is actually more expensive than Alaska, and only slightly less expensive than Hawaii.

In short, Connecticut is certainly one of the most expensive states in the continental United States.

According to MIT’s Poverty in America research organization, it takes approximately $22,000 to support a reasonable one-adult household in the state.

If a family is made up of one adult, and three children, scientists at MIT believe a $72,000 annual income is required, and monthly child-care costs can run a family $1,400.

In Alaska, for instance, the income needed for those respective family make-ups are $19,496 and $63,000 — lower than Connecticut because taxes and child-care costs are significantly lower.

These numbers represent the “living wage” in a given state, or the amount of income needed for a family to meet “basic needs.”

A living wage, MIT’s Living Wage project says, would “enable the working poor to achieve financial independence while maintaining housing and food security. When coupled with lowered expenses, for childcare and housing in particular, the living wage might also free up resources for savings, investment, and/or for the purchase of capital assets.”