New report breaks down most and least expensive states for household bills

0

Indiana, Kentucky and Ohio did well in the rankings.

Photo Shutterstock.

(undated) – If you live in Indiana, Kentucky, or Ohio, chances are your bills are cheaper than most other states.

Earlier this month, doxoINSIGHTS published its 2022 State-by-State Bill Payment Market Report.

The report examines the $4.6 trillion U.S. consumer bill payment market with a specific state-level breakdown of the 10 most common household bill payment categories including: mortgage, rent, loan auto, utilities, car insurance, cable and internet and phone, health insurance, and life insurance.

According to the report, Indiana and Kentucky rank among the 10 cheapest states for household bills.

  • Top 10 most expensive: 1. Hawaii, 2. California, 3. New Jersey, 4. Maine, 5. Maryland, 6. Connecticut, 7. New York, 8. Alaska, 9. Washington, 10. New Hampshire.
  • Top 10 cheapest: 41. Nebraska, 42. Alabama, 43. New Mexico, 44. South Dakota, 45. Oklahoma, 46. Kentucky, 47. Indiana, 48. Mississippi, 49. Arkansas, 60. West Virginia.

Indiana ranks 47th in monthly bill payment amount with an average spend per month of $1,607, 20% below the national average of $2,003. The average monthly bill cost in Indiana is about 34% of household income.

Lawrenceburg ranks as the 22nd most expensive city in the state with average monthly bills averaging $1,771.

Kentuckians spend slightly more per month than the Hoosiers ($1,627), ranking 46th.

Several cities in the Greater Cincinnati area are on the list of the 25 Most Expensive Cities in Kentucky. The cities are Union (3rd), Fort Thomas (4th), Florence (7th), Burlington (10th), Alexandria (11th), Independence (13th), Fort Mitchell (16th), Erlanger (24th).

Ohio ranks 39th in total spending per month at $1,717.

Globally, a recent doxoINSIGHTS study found that 9 in 10 Americans saw their household bills rise in the past 12 months, with those in the utilities category rising the most.

The study also found that 87% of Americans worry about their ability to pay their bills if inflation rates continue to rise.

For more information, visit doxoINSIGHTS’ 2022 State-by-State Bill Payment Market Report Finds Hawaii Most Expensive for Household Bills, West Virginia Least – doxo.

Share.

Comments are closed.