Report: Hawaii residents 'most likely' to live paycheck to paycheck
HONOLULU (HawaiiNewsNow) - For the second year in a row, Hawaii has been named the state where residents are "most likely" to live paycheck to paycheck.
The GoBankingRates.com ranking noted that while Hawaii has the second-highest median household income in the nation, the cost of food, housing, transportation and utilities all far exceed those found in other states.
That should come as no surprise to residents. A survey conducted last year found that nearly half of Hawaii residents are living paycheck to paycheck.
But the ranking's analysis is all the more startling because it concludes that someone earning the median income in Hawaii can't actually cover all needed expenses. The report said that a household earning the median in Hawaii would be about $367 short each paycheck.
"In all, Hawaii has the highest cost of living, making it one of the most expensive states to live in," the analysis concluded.
California came in second in the nation, while New York rounded out the top three. Mississippi was named the state where residents were least likely to live paycheck to paycheck.
To see the full rankings, click here.
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