A new study found that Arizona is the No. 2 most affordable state in the U.S. with expenses taking up 70.5 percent of income. The national average is 81 percent. 

What consumers spend to buy everyday items has risen 2 percent in just the past year. With incomes not keeping pace, Americans need to be more careful than ever choosing where they live. 

TheSeniorList.org today released a study on the Most and Least Affordable States using the latest data from the Bureau of Economic Analysis and the Bureau of Labor Statistics on income and expenses like housing, utilities, groceries, healthcare, clothing, gas and more.

Here are key findings in Arizona:

• No. 1 lowest financial services & insurance costs, which is $2,049.

• No. 3 lowest healthcare costs at $5,681.

Here are key national findings: 

• 10 most affordable states are: D.C., Arizona, Georgia, North Carolina, Alabama, Washington, New Mexico, Oklahoma, Texas and Mississippi.

• The least affordable state is South Dakota, where the average resident spends more per year than they take in, a ratio of 100.9 percent.

• The South is the most affordable region, with an average of 77.2 percent of income eaten by expenses, while the Northeast is the most expensive with 85.1 percent.