Home affordability goes way beyond its listing price, and homeowners need to consider the costs of things like energy before making a purchasing decision. WalletHub’s recently released list of 2016’s Most & Least Energy-Expensive States could impact homebuying choices, measuring states by energy costs, energy consumption, fuel costs and more.
According to the report, the four highest energy cost states were all on the East Coast. Connecticut, Massachusetts, Rhode Island and Vermont ranked high with total energy costs between $404 and $332. Coming in the no. 5 spot was Georgia, where the total energy cost was $328.
Monthly energy costs were the cheapest in Washington D.C., where the average monthly energy bill was $82. Total energy cost was reported at $219, ranking the District in the no. 50 spot as the second-cheapest area for energy.
The highest cost for D.C. locals was monthly natural gas costs, which ranked eighth highest in the nation. However, that was somewhat balanced out, with D.C. having the lowest monthly motor-fuel cost in the nation, at $70.
And where can you find the lowest monthly natural gas costs? Florida. The Sunshine State’s warm weather made it a shoe-in for the top spot as the cheapest state for monthly natural gas, at just $4.
The average total energy cost in Florida was reported at $276. The most expensive energy cost for Floridians was electricity, which ranked no. 5 at $160.
California also ranked as a relatively low-cost state for energy. The Golden State was no. 45 on the list, placing it as the seventh least-expensive state in the nation. The state ranked highest for monthly motor fuel costs, which ranked as the 11th most-expensive at an average of $125.
Having the highest natural gas cost, Illinois residents pay an average $80 a month for the resource. However, the state ranked no. 36 overall, having inexpensive electricity prices of $96 a month (ranking no. 47) and motor fuel costs of $104 per-month (ranking no. 32) for balance.
Another state high on the list for natural gas costs was New York. The state ranked no. 3 in the category, having an average price of $66 per month. The state also ranked considerably high for home heating oil ($39 each month), which some states don’t use.
Motor fuel was the cheapest energy cost in New York, ranking no. 45 with a monthly average of $92.
In Texas, energy costs are pretty average. The Lone Star State ranked no. 28 overall with an average total energy cost of $289. It’s highest ranking was in monthly electrical costs (no. 8) with a $155 monthly average. Natural gas was fairly inexpensive, though, ranking no. 41 with a monthly cost of $24.
