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America's most expensive states in 2014

John Warburton-Lee | AWL Images | Getty Images

» more from America's Top States for Business 2014

5. Alaska

Aurora borealis—bright curtains of yellow, green, red and purple light produced by charged electrons and protons in the atmosphere—illuminates the sky over Fairbanks, Alaska, about 240 nights a year. Since the average cost of your power bill in the fifth most expensive state to live will set you back more than $500, you may be better off relying on the Northern Lights to brighten your home.

  • 2014 Cost of Living rank: #46 (5th most expensive)
  • 2014 Cost of Living score: 5 (out of 50)
  • 2013 Cost of Living rank: #49 (2nd most expensive)
  • Avg. home price (Fairbanks Metro): $395,133
  • Half gallon of milk: $2.43
  • Pound of ground beef: $4.35
  • Monthly energy bill: $509.29
  • Doctor visit: $168.67
John Warburton-Lee | AWL Images | Getty Images