GucciMD

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Which states are most economical? So far in my research MS, LA, and FL seem to be more pocket book friendly.

On the costly end of living NY, NJ, and CA seem to be at the top.

What is your opinion?
 

surg4me

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NV, TX don't have income tax. NV in general has affordable housing. I know that Dallas also has affordable housing relative to places such as Los Angeles/CA.
 

GeneGoddess

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Texas doesn't have state income tax, but we DO have sales tax (8.25% in Houston, may go up to 9.25%) and pricey property taxes. But we are cheaper that most places in California.
 

endodoc

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surg4me said:
NV, TX don't have income tax. NV in general has affordable housing. I know that Dallas also has affordable housing relative to places such as Los Angeles/CA.
FL and NH also has no state income tax as well. Also to make it clear, TX, NV and NH have no income tax free, but only on the state level. You didnt think Uncle Sam would let you get away with that much did you?

As far as tax goes, the states who are "tax free" like to get you other places, there are no free rides.
 

docB

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In terms of housing NV has started to catch up with our wicked stepsister to the west (CA). For apartments and condos it's still reasonable bu houses have gone way up. We're still cheaper than CA, just not by as much as we were 2 years ago.
 

sunnyjohn

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Housing is fairly economical in Dallas, But property taxes are high, especially in the North Dallas suburb/cities like Plano and Frisco. They do have the public schools to prove it though.

There is no state income tax in TX.

"The stars at night, are big and bright,
deep in the heart of Texas..." :D :p

Agape
 

prominence

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endodoc said:
FL and NH also has no state income tax as well. Also to make it clear, TX, NV and NH have no income tax free, but only on the state level. You didnt think Uncle Sam would let you get away with that much did you?
pardon my ignorance, but what do u mean "only on the state level"?
 

sunnyjohn

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prominence said:
pardon my ignorance, but what do u mean "only on the state level"?
"Only at the State level"? It means that even though the state in question does not STATE income taxes, you still have to pay FEDERAL income tax.

You still have to file a 1040 by April 15th with the IRS.

No getting around that (Legally).....
:p

Agape
 

Furrball

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Gross generalization, central mid-west and southern US has lower cost of living than either the east or west coast. Although some cities on the coasts are affordable, e.g. Baltimore. Oh add Oregon to the list of states without sales tax, but it has income tax. New Hampshire has neither sales nor income tax, but they do get you in other ways. They do not charge sales tax on a new car, they just charge you a lean on your car over ten years payable when you register your car every year.
 

doc05

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Furrball said:
Gross generalization, central mid-west and southern US has lower cost of living than either the east or west coast. Although some cities on the coasts are affordable, e.g. Baltimore. Oh add Oregon to the list of states without sales tax, but it has income tax. New Hampshire has neither sales nor income tax, but they do get you in other ways. They do not charge sales tax on a new car, they just charge you a lean on your car over ten years payable when you register your car every year.
in other words, regions that suck have a lower cost of living. if you want to live in a nice place (either coast), it will cost you. but that's the price of civilization.
 

docB

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doc05 said:
in other words, regions that suck have a lower cost of living. if you want to live in a nice place (either coast), it will cost you. but that's the price of civilization.
Speaking of gross generalizations...
 

f_w

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Unless you have other sources of income, the state income tax won't be a big factor for your measly residency stipend. As you will be spending pretty much all of your income, the sales tax will take a considerable bite out of your wallet. Also, if you buy real-estate, don't bother about the state income tax, rather look at the property tax structure in the state you are going to.

That said: In NJ, NY, CT you will get clubbered with expenses at all levels. Housing, transportation insurance and taxes are all way above average While you will get about 55k as an intern in NYC, ALL of that is eaten away by the increased expense of living there.
 

fourthyearmed

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doc05 said:
in other words, regions that suck have a lower cost of living. if you want to live in a nice place (either coast), it will cost you. but that's the price of civilization.
That's your opinion. There are lots of great cities in the South and they all have very low cost of living compared to other parts of the country.