LAS VEGAS (KTNV) — Inflation has been raising costs for Americans everywhere, but Nevadans are paying more than residents of 48 other states for at least one thing: car ownership. A new report from Forbes has ranked Nevada at no. 1 for most expensive state to own a car.
Costs for residents in the Silver State are not only the highest, but rose over 10% in the past year. In 2022, it cost an average of $10,728 (or $894/month) for Nevadans to own a car — up 10.99% over the 2021 calendar year.
The report tracked costs related to a wide range of needs including insurance premiums, the price of gas, and repair costs.
Both Nevada and California ranked first on the list, just above Colorado, Florida and Alaska. Ohio is the cheapest state to own a car in the U.S.
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Some quick facts from the report include the following:
- California and Nevada tied as the most expensive states to own a car in the U.S., followed by Colorado, Florida and Alaska.
- Ohio is the least expensive state to own a car, followed by Iowa, Wisconsin, Maine and New Hampshire.
- Seven of the 10 most expensive states for car ownership are located in the Pacific and West, including California, Nevada, Colorado, Alaska, New Mexico, Washington and Wyoming.
- Six of the 10 least expensive states for car ownership are in the Midwest, including Kansas, Nebraska, Indiana, Wisconsin, Iowa and Ohio.
- Connecticut is the most expensive state for car repairs (Connecticut residents pay $418.37 on average for check engine light-related car repairs).
- New York is the most expensive state for full coverage car insurance ($4,769 per year).
The full report can be found here.
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