Irrespective of the place you reside within the U.S., proudly owning a automotive prices some huge cash. And research counsel it’s persevering with to get dearer annually. In line with data from the Bureau of Transportation Statistics (BTS), the annual price of proudly owning a automotive topped $10,000 for the primary time in 2022. The latest annual estimate of $10,729 per yr represents a 19.9% improve over the past decade.
Nonetheless, lots of the prices related to proudly owning a automotive range by location. Consequently, automotive possession in some states is dearer than in others. To seek out out that are the most costly states to personal a automotive, our staff performed a state-by-state examine of the typical prices of main vehicle bills. Then we took these examine outcomes to disclose the states the place drivers pay essentially the most to personal a automotive.
10 States With the Highest Price of Automotive Possession
We utilized information reflecting the key prices of proudly owning a automotive for every state and crunched the numbers to create a Automotive Possession Price Rating. This proprietary rating is predicated on a 100-point scale, with the most costly states to personal a automotive incomes the best numbers. Via our analysis, we discovered that Connecticut is the most costly state for automotive house owners, with a rating of 87.3.
Within the part under, you’ll discover a breakdown of the fee scores for Connecticut and the remainder of the ten most costly states to personal a automotive. We’ve additionally supplied extra detailed details about particular person prices.
#1 Connecticut: 87.3
Insurance coverage: 91.3
Property Tax: 94.1
Auto Restore: 93.0
Connecticut drivers pay extra to personal a automotive than drivers in another state. The state isn’t ranked first in any single price class, however its constant place close to the highest in virtually each one ends in an general costly automotive possession expertise.
For instance, the two.15% Connecticut automotive house owners pay in property taxes annually is 99.1% larger than the nationwide common and the third-highest charge within the nation. Automotive insurance coverage in Connecticut can also be among the many priciest. Drivers within the Structure State pay a mean of $1,503 per yr only for a minimal protection coverage and a whopping $2,999 per yr for full protection.
#2 California: 83.2
Insurance coverage: 73.8
Property Tax: 68.4
Auto Restore: 100.0
Whereas insurance coverage prices and auto property taxes for California automotive house owners sit close to the center of the pack, drivers get hit onerous in relation to automotive repairs and fuel prices. The Golden State is first within the nation in auto restore prices, with the typical price of repairs 8.1% larger than the nationwide common. It’s additionally the second-most costly state to replenish your tank.
#3 Michigan: 81.5
Insurance coverage: 100.0
Property Tax: 81.8
Auto Restore: 64.8
Automotive insurance coverage is the principle cause Michigan lands at quantity three on our listing. Automotive house owners in The Nice Lakes State pay greater than anybody else to insure their autos, with the typical price of a full protection coverage at an astonishing $3,785 per yr. Property taxes are additionally larger in Michigan than in most states at 1.48%. These excessive charges are sufficient to offset the comparatively inexpensive auto restore and fuel prices within the state.
#4 Hawaii: 80.6
Insurance coverage: 71.1
Property Tax: 60.0
Auto Restore: 93.7
At simply 0.29%, Hawaii has the bottom property tax charge within the nation. However that’s not sufficient to maintain The Aloha State from rating because the fourth most costly state to personal a automotive. Hawaii is the most costly state to purchase gasoline, the place it prices 35.1% extra to gas up than the nationwide common. Drivers additionally pay greater than in most components of the nation to have their vehicles repaired, as Hawaii has the seventh-highest common restore price within the nation.
#5 North Carolina: 80.5
Insurance coverage: 78.2
Property Tax: 69.4
Auto Restore: 93.7
Whereas property taxes are decrease than common in The Tar Heel State, prices are comparatively excessive in each different class. At $1,015 per 30 days for minimal protection and $2,149 per 30 days for full protection, the typical price of automotive insurance coverage in North Carolina is 34% larger than the typical for the nation. But it surely’s the price of fuel and auto repairs that basically provides North Carolina drivers the blues. Automotive house owners pay 14.1% and 5.1% greater than the nationwide common for every, respectively.
#6 Florida: 80.3
Insurance coverage: 89.2
Property Tax: 70.5
Auto Restore: 88.1
Drivers in Florida take pleasure in comparatively low property taxes and fuel prices in comparison with the remainder of the nation. Nonetheless, issues get a bit of gloomy in The Sunshine State when it’s time to pay for insurance coverage protection. Florida is the third most costly state for automotive insurance coverage, the place the typical coverage prices a staggering 81.7% greater than the nationwide common. A minimal protection coverage prices $1,343 per yr on common, whereas the typical price of a full protection coverage is $2,947. Gasoline prices are additionally on the upper facet of common in Florida.
#7 New Jersey: 79.4
Insurance coverage: 64.5
Property Tax: 100.0
Auto Restore: 94.0
At 2.47%, New Jersey’s property tax charge is the best within the nation and 128.7% larger than the nationwide common. The Backyard State can also be the fifth most costly state to get your automotive mounted, with the typical price of auto repairs 5.2% larger than common. With charges 23.4% under the nationwide common, New Jersey is without doubt one of the extra inexpensive states to insure your automotive. However that’s nonetheless not sufficient to offset the excessive prices in different classes and preserve New Jersey out of the highest 10 most costly states to personal a automotive.
#8 North Dakota: 78.2
Insurance coverage: 88.9
Property Tax: 73.0
Auto Restore: 68.3
North Dakota remains to be an costly place to be a automotive proprietor, regardless of having the seventh lowest common restore prices within the nation. The state’s excessive price rating is due, partially, to the value of gas. North Dakota has the tenth highest common fuel price within the nation, with drivers paying 6.3% greater than common to replenish. Nonetheless, the principle issue touchdown North Dakota on our listing is the price of auto insurance coverage in Roughrider Nation. Automotive house owners pay a mean of $1,472 for minimal protection and $2,783 for full protection in North Dakota, making the state the fourth most costly place to purchase an insurance coverage coverage.
#9 Rhode Island: 77.5
Insurance coverage: 73.2
Property Tax: 82.8
Auto Restore: 85.2
Nothing comes low-cost for automotive house owners in Rhode Island. Auto restore prices are basically on the common for the nation. However automotive house owners pay 12.3% greater than the nationwide common for auto insurance coverage and three.8% extra for fuel. It’s property taxes, nevertheless, that drive up the price of automotive possession in Little Rhody essentially the most. The 1.53% property tax charge is 41.7% larger than the nation’s common charge and the eleventh highest within the nation general.
#10 Colorado: 76.9
Insurance coverage: 71.0
Property Tax: 64.0
Auto Restore: 93.0
Whereas automotive house owners in Colorado take pleasure in lower-than-average property taxes, additionally they face the fifth highest fuel costs within the nation. Including to the tab is automotive insurance coverage, which prices 3.1% extra in The Centennial State than the typical for the nation. Nonetheless, the mile-high price of automotive repairs is what pushes the state into the ultimate spot on our prime 10. Drivers pay 4.7% greater than the nationwide common for auto repairs, making Colorado the ninth most costly state to get your automotive mounted.
Price of Automotive Possession in All 50 States and D.C.
The desk under reveals our price scores for every state within the U.S. and the District of Columbia.
|Rank||State||Automotive Possession Price Rating||Insurance coverage Price Rating||Property Tax Rating||Auto Restore Price Rating||Gasoline Price Rating|
|14||District of Columbia||76.1||77.7||65.1||97.7||65.2|
Our researchers compiled a number of price information factors for 4 classes of main automotive possession bills: auto insurance coverage, taxes, auto repairs, and gas. We averaged the prices for every class after which translated them to a 100-point scale proportional to the variations in prices to permit for simpler comparability. Then, we weighted the classes primarily based on their affect on automotive possession prices to create a single price information rating for every state, additionally on a 100-point scale.