Idaho’s Cost of Living Remains Stubbornly High for Rural America

It costs a lot to raise kids.  I saw a story on TV that said the price tag has jumped by 30 percent over the last couple of years.  You can factor that into the overall cost of living in America.  Where does Idaho rank in those costs?   Despite the soaring price of housing in the Gem State, Idaho is still among the middle-range states.  The stampede of people moving here over the last 25 years probably made it a lot pricier.  The lowest state for cost of living is Oklahoma.  The thing is, in many of the cheapest places, you won’t find a lot of economic activity.

We're Middle of the Road

Hawaii is the most expensive state.  Remember that goods need to be shipped over long distances to reach their destination.  The same with Alaska, which is in the top five.  The other three, rounding out the top five, are all high-tax states (California, Massachusetts, and New York) with expensive urban areas.

Housing May Be Easing

Are we starting to see costs ease in Idaho?  I can only offer anecdotal evidence, but some apartments in local complexes are vacant much longer than a few years ago.  Places where the turnaround was three days are now weeks, and in some places, a few months.  I’ve been a witness.  Our other challenge here is the price we pay for gas and diesel, which are mostly imported into the state due to a lack of refining capacity.  That was an issue even before the recent spike.

Idaho remains cheaper than bordering states, except Wyoming and Nevada.