US Households Spend $2,095 a Month on Bills as California Tops States at $2,892
Updated
Updated · Newsweek · May 26
US Households Spend $2,095 a Month on Bills as California Tops States at $2,892
2 articles · Updated · Newsweek · May 26
A new doxo report found the average U.S. household spends $2,095 a month on essential bills—about 30% of median income—across 13 categories including housing, auto loans, insurance and utilities.
California ranked as the most expensive state at $2,892 a month, followed by Hawaii at $2,735 and Massachusetts at $2,668; West Virginia was lowest at $1,116, ahead of Mississippi and Arkansas.
Housing remained the biggest pressure point, with California posting the highest median mortgage payment at $2,643, while Hawaii led rents at $2,068 and California was close behind at $2,028.
The report lands as household debt has climbed to a record $18.8 trillion and rising oil prices and Treasury yields tied to Middle East tensions threaten to lift borrowing and living costs further.
As debt from basic needs soars, is the American dream now financed by credit cards?
With the SAVE plan gone, are 7 million student borrowers heading for a default crisis?
With millions of homes needed, which zoning reforms offer the fastest path to affordable housing?