#7 New Jersey
In terms of high living expenses, New Jersey rivals New York. In Jersey City, a one-bedroom apartment costs $1421 per month. It also has high taxes, with income tax rates ranging from 1.4% to 8.97%.
In New Jersey, almost everything is pricier than average, but the most dangerous hidden expense seems to be the state’s notoriously high taxes, particularly property taxes. Over the course of their lives, the state’s citizens will pay over $1 million in taxes – $932,000, to be exact. That is greater than any other state’s residents. Also, even though Social Security benefits are not taxed, withdrawals from other retirement funds are.
