Insights » 2024 Cost of Bills Index (COBI) Report

2024 Cost of Bills Index (COBI) Report

Based on doxo’s newly launched Cost of Bills Index™ (COBI), the 2024 Cost of Bills Index Report reveals how much it costs to live in one area as compared to another as it relates to the most common household bills.

The COBI is based on doxo’s nationwide bill payment statistics for the ten most common household bill categories (Utilities, Cable & Phone, Mobile Phone, Auto Loans, Auto Insurance, Life Insurance, Health Insurance, Alarm & Security, Rent, and Mortgage), and provides a standard comparison index for the most fundamental expenses that comprise the cost of living. Leveraging doxo’s unique, aggregate, anonymized bill pay data, the COBI is a new feature of doxoINSIGHTS, which provides a comprehensive look into the Bill Pay Economy™ at the state, county and city level. 

Providing a standard benchmark, the 2024 Cost of Bills Index Report includes state- and city-specific breakdowns with comparisons to the national average, and uncovers the five most and least expensive U.S. states to live in, based on the COBI index:

The Top 5 Most Expensive U.S. States by the Cost of Bills Index (COBI)

StateStandard COBI*% Above/Below National Average
Hawaii145+45%
California142+42%
Massachusetts133+33%
New Jersey132+32%
Maryland126+26%

The Top 5 Least Expensive U.S. States by the Cost of Bills Index (COBI)

StateStandard COBI*% Above/Below National Average
West Virginia75-25%
Mississippi81-19%
Arkansas83-17%
Oklahoma84-16%
Kentucky84-16%

*For the COBI, the number 100 represents the national average and then, states, counties and cities are assigned a number, either above or below 100, based on how they compare to the national average. For example, the COBI for Seattle, WA is 143, meaning 43% above national average, while the COBI for Charleston, WV is 84, meaning 16% below national average.

2024 Cost of Bills Index Report

Download the full report for further details on doxoINSIGHTS’ Cost of Bills Index including state- and city-specific breakdowns with comparisons to the national average, and the five most and least expensive U.S. states and 50 largest cities to live in, based on the COBI.