CNBC Study Finds 9 of 10 Costliest States Are Democrat-Run, With California No. 1
Updated
Updated · Fox News · Jul 14
CNBC Study Finds 9 of 10 Costliest States Are Democrat-Run, With California No. 1
2 articles · Updated · Fox News · Jul 14
Summary
CNBC ranked nine Democrat-led states among the 10 most expensive, with California topping the list and Florida the only Republican-led exception.
California’s costs stood out across housing and energy: 40% of residents spend more than 30% of income on housing, average monthly energy bills hit $373, and gasoline averages $5.39 a gallon.
RAND data cited in the report tied California’s housing burden to construction costs of $640 per square foot versus $228 in Texas, with typical development timelines stretching 49 months versus 27 months.
The report argues high taxes, strict zoning, pro-union labor rules and energy policies are pushing up rents and other essentials; California’s unemployment rate is 5.3% versus a 4.2% national average.
CNBC’s most affordable states list was dominated by Republican-led states including Missouri, Ohio and Indiana, reinforcing the report’s link between state policy and living costs.