Study: Massachusetts is 3rd Most Expensive Place to Live in US

Massachusetts is the third most expensive place to live in America, according to a CNBC Study.

The Boston area is the driving force behind the Bay State's high cost of living, where the median price for a home is 70 percent higher than the national figure.

The study compares several basic items in the states' most expensive ranking. For instance, a doctor's visit in the Boston area will cost $151.91 compared with the Bethesda, Maryland area at $94.

The cost to live in Massachusetts is only surpassed by California and the most expensive place to live in the U.S. - Hawaii. New York is fourth on the list.

Two other New England states also made the top 10.

1. Hawaii

2. California

3. Massachusetts

4. New York

5. Alaska

6. Oregon

7. Maryland

8. Connecticut

9. Rhode Island

10.New Jersey

The study ranks all 50 states based on an index of basic items, including average home and food prices, monthly energy bills and health costs.

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