I can only answer based on where I've lived and what I've heard from some other states.
In DFW Texas I started out at $18.25/hr being a new grad 2 years ago. The cost of living in that area was pretty inexpensive there. I could have bought a nice new 3bd 2ba house for less than $120,000. So I think the wages to cost of living are pretty fair.
I now live in the Seattle area, WA and with less than one year experience I started at $18.80 plus $1.00/hr for evening shift differential, $19.80/hr. Now with two years of experience and working at a hospital I am making on average $22.00/hr with shift and weekend differentials. Where I live now, the same 3bd house would cost probably at least $400,000. I feel that doesn't at all match the cost of living for the area, even the RNs salaries don't match the cost of living. There is a thread going on at my state's forum about how outraged nurses are that we are getting shafted. I plan on moving sometime in the future, and that is big reason why