If you've been in the market to buy a home, especially in New England, you have probably noticed that it's come with some challenges.

If you have a good credit score and good income, it obviously becomes easier. But as a realtor, I have seen that finding suitable housing has posed some challenges, and there have been some hoops to jump through to get my buyers into what they need. Factors like low inventory combined with higher interest rates have made it quite difficult for the typical first-time homebuyer. These three states are among the top 10 that have additional issues, making even more difficult for those looking to buy as well as residents who already own property.

According to CNBC, three New England states have ranked in the top 10 most expensive places to live in the US.

1. New Hampshire: The Live Free or Die state is known for not having State Income Tax, but they rely heavily on property taxes to generate revenue, leading to higher tax bills for residents. The ones that truly benefit from the absence of state income tax are the tourists. The lack of housing supply and high energy costs in the winter are a few of the other contributing factors.

2. Massachusetts: As the most populous state in New England, Massachusetts ranks high in terms of cost of living. Being close to Boston along with high demand for housing, limited land availability, and strong job markets are a few of the factors that contribute to the elevated cost of living. Also, higher state income and property tax rates, especially in desirable areas, are contributors to the high costs.

3. Rhode Island: Despite it being the smallest state, Rhode Island, like the other two states, has limited affordable housing due to low inventory as well as higher state income and property tax rates. This is a direct hit on residents' disposable income.

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