How much does the American dream cost: the most expensive and affordable states

If in 2019 year you are one of those who seek to realize their own American dream, it is important to realize your real financial situation. It is expected that house prices, although slower, will continue to rise in the 2020 year, which cannot be said for wages. With this perspective, can the American dream still be available?

According to a new study Gobankingrates, the answer may depend on where you live. Researchers have defined the concept of the American dream as the life of a married couple with two children, a pet, a house, and a car. The study analyzed the annual costs of maintaining the above (along with other needs, such as utilities and healthcare) and the final costs needed to achieve the American dream in each individual state.

All figures are given per year.

Most Available States

1. Mississippi

• Products: $ 11 205,30
• Pet Care: $ 754,36
• Car: $ 8,499
• Healthcare: $ 5 590
• Utilities: $ 4,805
• Education: $ 2,335
• Baby Care: $ 10 220
• Mortgage: $ 10 548
• Total annual expenses: $ 53 956,26
• American Dream Cost: $ 107 913

2. Arkansas

• Products: $ 10 735,48
• Pet Care: $ 763,06
• Car: $ 9 107
• Healthcare: $ 5 205
• Utilities: $ 4 895
• Education: $ 2 362
• Baby Care: $ 12 368
• Mortgage: $ 9 780
• Total annual expenses: $ 55 215,73
• American Dream Cost: $ 110 431

3. Alabama

• Products: $ 11 264,03
• Pet Care: $ 776,11
• Car: $ 8 282
• Healthcare: $ 5 425
• Utilities: $ 5 571
• Education: $ 2 402
• Baby Care: $ 11 185
• Mortgage: $ 12 312
• Total annual expenses: $ 57 217,02
• American Dream Cost: $ 114 434

4. Kentucky

• Products: $ 10 582,79
• Pet Care: $ 797,86
• Car: $ 8 951
• Healthcare: $ 5 510
• Utilities: $ 5 247
• Education: $ 2 469
• Baby Care: $ 12 821
• Mortgage: $ 11 136
• Total annual expenses: $ 57 514,47
• American Dream Cost: $ 115 029

5. West Virginia

• Products: $ 10 829,44
• Pet Care: $ 801,34
• Car: $ 8 612
• Healthcare: $ 5 474
• Utilities: $ 4 810
• Education: $ 2 480
• Baby Care: $ 16 380
• Mortgage: $ 9 192
• Total annual expenses: $ 58 578,63
• American Dream Cost: $ 117 157

On the subject: States whose residents pay the highest sales taxes per capita

The most expensive states

46. Connecticut

• Products: $ 13 096,34
• Pet Care: $ 1 121,53
• Car: $ 8 374
• Healthcare: $ 6 983
• Utilities: $ 6 907
• Education: $ 3 471
• Baby Care: $ 28 232
• Mortgage: $ 21 432
• Total annual expenses: $ 89 616,12
• American Dream Cost: $ 179 232

47. New York

• Products: $ 13 155,07
• Pet Care: $ 1 177,21
• Car: $ 8 628
• Healthcare: $ 6 366
• Utilities: $ 5 688
• Education: $ 3 644
• Baby Care: $ 27 752
• Mortgage: $ 24 456
• Total annual expenses: $ 90 866,01
• American Dream Cost: $ 181 732

48. California

• Products: $ 13 953,77
• Pet Care: $ 1 210,28
• Car: $ 9 384
• Healthcare: $ 6 824
• Utilities: $ 6 268
• Education: $ 3 746
• Baby Care: $ 28 420
• Mortgage: $ 29 076
• Total annual expenses: $ 98 881,94
• American Dream Cost: $ 197 764

49. Massachusetts

• Products: $ 13 389,98
• Pet Care: $ 1 167,64
• Car: $ 8 251
• Healthcare: $ 7 245
• Utilities: $ 5 896
• Education: $ 3 614
• Baby Care: $ 36 008
• Mortgage: $ 26 952
• Total annual expenses: $ 102 523,57
• American Dream Cost: $ 205 047

50. Hawaii

• Products: $ 19 485,95
• Pet Care: $ 1 671,42
• Car: $ 8 692
• Healthcare: $ 7 203
• Utilities: $ 8 700
• Education: $ 5 173
• Baby Care: $ 22 667
• Mortgage: $ 29 796
• Total annual expenses: $ 103 387,72
• American Dream Cost: $ 206 775

On the subject: States with the most expensive and cheapest public colleges

Other states:

24. Florida

• Products: $ 12 368,12
• Pet Care: $ 862,25
• Car: $ 8 650
• Healthcare: $ 5 883
• Utilities: $ 5 475
• Education: $ 2 669
• Baby Care: $ 16 520
• Mortgage: $ 17 088
• Total annual expenses: $ 69 515,64
• American Dream Cost: $ 139 031

26. Pennsylvania

• Products: $ 11 816,07
• Pet Care: $ 859,64
• Car: $ 8 514
• Healthcare: $ 5 639
• Utilities: $ 5 715
• Education: $ 2 661
• Baby Care: $ 21 614
• Mortgage: $ 13 704
• Total annual expenses: $ 70 522,07
• American Dream Cost: $ 141 044

33. Illinois

• Products: $ 11 287,52
• Pet Care: $ 826,57
• Car: $ 8 891
• Healthcare: $ 6 097
• Utilities: $ 5 140
• Education: $ 2 558
• Baby Care: $ 24 174
• Mortgage: $ 16 788
• Total annual expenses: $ 75 761,96
• American Dream Cost: $ 151 524

41. Oregon

• Products: $ 13 143,33
• Pet Care: $ 1 158,07
• Car: $ 8 145
• Healthcare: $ 6 915
• Utilities: $ 4 635
• Education: $ 3 584
• Baby Care: $ 23 677
• Mortgage: $ 21 912
• Total annual expenses: $ 83 169,38
• American Dream Cost: $ 166 339

44. New Jersey

• Products: $ 12,837,94
• Pet Care: $ 1 091,08
• Car: $ 8 724
• Healthcare: $ 6 359
• Utilities: $ 5 507
• Education: $ 3 377
• Baby Care: $ 23 843
• Mortgage: $ 23 688
• Total annual expenses: $ 85 427,72
• American Dream Cost: $ 170 855

Full rating can be found here.

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