The same model may have a similar price tag at dealerships nationwide, but the cost of owning that vehicle can vary dramatically by region. CarInsurance.com recently rated all 50 states using its Automotive Misery Index.
The Misery Index factors the cost of gas, miles driven and cost of insurance in every state. It then compiles those numbers together to figure out what percentage of a state’s average household income goes toward car ownership: the higher the percentage, the higher the misery.
What’s the worst state to live in according to Car Insurance.com’s Misery Index? Mississippi. Mississippians drive a ton, spend a lot on gas and have the lowest average income of any state. Once those factors are combined with above average insurance costs, residents of Mississippi spend 11.6% of their annual income on their cars.
The next four worst states to live in after Mississippi are Oklahoma, Louisiana, West Virginia and Georgia. The top five states, in order from one to five, are: New Hampshire, Alaska, Connecticut, Colorado and Washington.