5 States with Highest Minimum Wage and Low Cost of Living

2. Washington

Minimum Wage: $15.74

Cost of Living Index: 115.7

Score: 0.1360

According to the US Department of Labor, Washington has the highest minimum wage rate among all states in the nation. The hourly rate is set to rise further in 2024 to total $16.28, which could mean a full-time worker earning as much as $34,000 per annum. The adjustment to the minimum wage rate is being made due to a 3.3% increase in cost of living in the state. There are three cities in Washington that pay more than the state average. These are SeaTac ($19.06), Tukwila ($18.99), and Seattle ($18.69).