I personally love exploring new places. Last week, I was in New York City hanging out with my friends. One of the expensive cities in the US known for its tourist attractions like the Statue of Liberty, Brooklyn Bridge, Central Park and numerous world-famous museums. My vacation in New York was wondrous but also expensive.
So, anybody there thinking of living in New York City, think twice. After returning from New York City, I decided to write an article on the 20 most expensive cities in the US. Because I know there are many people like me who love to explore new places.
Here, we’ll cover everything about how much it costs to live in a city. It will help you know which city will be in your budget for vacation or relocating your business.
Introduction
You must know the cost of living in a city to explore the list of expensive cities in the US.
Cost of living is the amount of money required to meet your necessities.
It includes prices of groceries, housing, utilities, health care and transportation.
The prices for these expenses will help you know how expensive a city compared to the national average.
However, the cost of living will help you to determine which city is most expensive in the US, but it will not gauge whether you can afford to live in it or not.
But the data from the US census bureau and the St. Louis Federal Reserve can help you to know whether you could afford to live in these expensive cities or not.
These data will include median household income, poverty rate and unemployment rate.
Knowing these data of a city will help you determine whether you could afford to live in it or not.
Cost of living in the US
Before we move further to know how much it costs to live in a city in the US, we must have a better sense of the national average cost of living in the US.
Below, we’ll show you the picture of the cost of living in the US.
- Unemployment rate:- 6.1%
- Poverty rate:- 13.7%
- Median home price:- $347,500
- Monthly rent:- $784
- Median household income:- $66,039
From the above picture, you can make your decision whether living in the US is under your budget or not.
The information we showed you above will help you to make a better decision whether you’re deciding for a vacation or living permanently.
The cities that we will show you in this article will also come with these stats. So you can make your decision more efficiently.
20 Most Expensive Cities to Live in US
In this section, we’ll cover the twenty expensive cities in the US.
We’ll show you the data from the US Census Bureau like household income, employment rate and median home price for every city.
These data will help you determine whether you can afford to live in a city or not.
1. Boston, Massachusetts
- Median Household income:- $71,115
- Median House Price:- $675,921
- Unemployment rate:- 6.20%
- City population:- 692,600
- Cost of living:- 48.8% above US average
Boston is an attractive place to live with unparalleled collections of hospitals, historic sites, and universities.
The price for healthcare in Boston exceeds the average national cost by 25.9%.
On the other hand, the price for groceries exceeds the average national cost by 15.7%.
However, Boston comes with a robust higher education environment and a booming tech scene.
The bottom line is that Boston is one of the nations’ leading tourist destinations.
2. San Francisco, California
- Median Household income:- $112,449
- Median House Price:- $1,453,455
- Unemployment rate:- 8.3%
- City population:- 883,305
- Cost of living:- 94.7% above US average
After seeing the data shown above, we can conclude that San Francisco comes with the highest cost of living and house prices.
You can see that cost of living in San Francisco exceeds the US average by 94.7%.
The highest cost of living and house prices is the reason why people are deciding to leave San Francisco.
However, the median house price in San Francisco is exceeding $1.4 million.
Suppose you’re a family of four and decided to live in San Francisco. You need about $112,449 to meet your household expenses.
On the other hand, we noted that the unemployment rate in San Francisco in 2021 is 8.3% which is getting worse due to the outspread of coronavirus.
3. Honolulu, Hawaii
- Median Household income:- $85,857
- Median House Price:- $757,364
- Unemployment rate:- 11.6%
- City population:- 341,302
- Cost of living:- 97.6% above US average
If you want to enjoy the perks of living, you must visit Honolulu, Hawaii. Another name that we can give to Honolulu is a remote pacific paradise.
The cost of living exceeds the US average by 97.6%. And that is too much. On the other hand, the household income in Honolulu is $85,857, which is less than the household income of San Francisco.
After seeing the amount of household income, if you’re planning to live in Honolulu, be prepared to meet your daily expenses.
If you love adding eggs to your breakfast, we want to tell you that it will cost you about $2.58 in Honolulu.
The bottom line is that the prices for eggs are exceeding three times the national average.
On the other hand, the prices of bananas are also exceeding three times the national average.
After seeing all this, we can say that you have to think twice before planning to live in Honolulu, Hawaii.
4. Washington, DC
- Median Household income:- $85,203
- Median House Price:- $675,000
- Unemployment rate:- 8.4%
- City population:- 689,545
- Cost of living:- 60.7% above US average
When it comes to high living costs, you must visit the nation’s capital Washington DC.
It comes with Government and private sector jobs due to numerous lobbying firms, federal agencies and robust tourism sectors.
The household income for Washington DC is $85,203, and the home value is $675,000, which is almost equal to Boston.
So, we can say that if you’re a four-member family and planning to live in Washington DC, you need about $79,696 to meet your household needs.
5. Oakland, California
- Median Household income:- $76,469
- Median House Price:- $902,003
- Unemployment rate:- 7.70%
- City population:- 390,724
- Cost of living:- 53.9% above US average
Living in Oakland is a cheaper alternative to San Francisco due to its location at the opposite end of the Bay Bridge.
But still, it is on the list of the most expensive cities in the US. It is due to its cost of living exceeding the US average by 53.9%.
On the other hand, the median household income of Oakland is $76,469 that exceeds the national average by two times.
6. San Jose, California
- Median Household income:- $109,593
- Median House Price:- $1,189,520
- Unemployment rate:- 5.60%
- City population:- 1,021,795
- Cost of living:- 96.8% above US average
In the list of expensive cities in the US, San Jose located within the commuting distance of Oakland and San Francisco.
However, the median home prices in San Jose are above $1 million due to the presence of Silicon Valley.
The unemployment rate in San Jose is about 5.60% due to numerous tech industry employees.
7. San Diego
- Median Household income:- $79,673
- Median House Price:- $729,318
- Unemployment rate:- 6.9%
- City population:- 1,423,851
- Cost of living:- 41.4% above US average
San Diego considered one of the best tourist destinations with an ideal climate and miles of beaches.
If you love outdoor activities like surfing, hiking, biking and golfing, you must visit San Diego.
Apart from outdoor activities, San Diego also comes with numerous world-class zoos, museums and wide-ranging restaurant scenes.
However, San Diego is California’s southernmost expensive city due to military contracting firms like Science Applications International Corporation and Northrop Grumman Corporation.
In San Diego, you will get a chance to spend on some luxuries such as yacht clubs, high-end eateries and pricey forms of entertainment.
Moreover, the unemployment rate in San Diego is slightly above the national average.
8. Los Angeles
- Median Household income:- $68,044
- Median House Price:- $852,648
- Unemployment rate:- 11.7%
- City population:- 39,538,223
- Cost of living:- 46.6% above US average
If you need an excess for glamour, you must visit Los Angeles. The median annual income is only $550 above the national average.
It makes Los Angeles one of the expensive cities in the US. The movie industry present in Los Angeles plays a vital role in brooming its economy.
However, the ports of Los Angeles are one of the busiest ports and contributed a massive amount to its cost of living.
If you’re a four-member family and planning to live in Los Angeles, we want to mention that you need about $87,239 to meet your household expenses.
9. Miami, Florida
- Median Household income:- $51,347
- Median House Price:- $407,574
- Unemployment rate:- 4.80%
- City population:- 478,251
- Cost of living:- 74% above US average
Miami is the only southern US city ranking in this list of most expensive cities in the US.
Due to numerous international financial institutions and the busiest cruise ship, Miami highly populated with wealthy foreigners.
The unemployment rate in Miami is above the national average. If you’re a four-member family and planning to live in Miami, we want to tell you that you need about $71,500 to meet your expenses.
10. New York City
- Median Household income:- $63,998
- Median House Price:- $651,786
- Unemployment rate:- 8.20%
- City population:- 8,419,316
- Cost of living:- 187.2% above US average
New York City is one of the most expensive cities in the US. It is one of the highly populated, expensive cities approaching 8.4 million.
However, if you’re planning to live in New York City, you must know that its living cost exceeds the national average.
The home prices in New York City are about $651,786 that is also above the national average.
On the other hand, New York City’s unemployment rate is 8.0%, which is better than the previous month.
11. Anchorage, Alaska
- Median Household income:- $83,648
- Median House Price:- $321,300
- Unemployment rate:- 13.0%
- City population:- 291,538
- Cost of living:- 24.4% above US average
Anchorage is the most expensive city in Alaska. It says that the cost of living in Anchorage is about 25% higher than the national average.
On the other hand, the cost for groceries and utilities is also third times higher than the US average.
The amount of rent in Anchorage is also about 35% higher than the national average.
Some other expenses, including healthcare and utility bills, are also higher than the national average.
12. Portland, Oregon
- Median Household income:- $73,097
- Median House Price:- $451,000
- Unemployment rate:- 11.4%
- City population:- 652,573
- Cost of living:- 34.3% above US average
If you’re living near the great outdoors, you must visit Portland, Oregon. Portland considered one of the fastest-growing urban cities.
The median house prices in Portland are about 84.2% which is above the national average.
On the other hand, the cost of transportation is a third higher than the national average.
And the cost of healthcare is also more than the national average, which made it the most expensive city in the US.
13. Alexandria, VA
- Median Household income:- $101,215
- Median House Price:- $561,800
- Unemployment rate:- 8.3%
- City population:- 160,530
- Cost of living:- 40.0% above US average
Alexandria is well known for its highly educated seeking high-powered jobs.
However, the cost of transportation, healthcare and other utility bills are also higher than the national average.
When it comes to keeping a rook over your head in Alexandria, you have to pay about 125%, which is more than the national average.
14. Queens, NY
- Median Household income:- $69,320
- Median House Price:- $577,400
- Unemployment rate:- 21.8%
- City population:- 2,278,906
- Cost of living:- 47.8% above US average
Queens is another most expensive city in New York. Queens is best known for Archie Bunker, and the house prices are double the national average amount.
On the other hand, the household income is also more prominent than the national average.
So, we can say that if you’re planning to live in Queens, think twice before making any decision.
15. Seattle
- Median Household income:- $93,481
- Median House Price:- $758,200
- Unemployment rate:- 9.2%
- City population:- 744,949
- Cost of living:- 56.7% above US average
There was a time when the Seattle economy was hot and high. But the outbreak of Covid-19 puts an end to all the high economic rates.
Due to famous tech companies, Microsoft and Amazon, Seattle has become an expensive city in the US.
According to the cost of living index, the house-related cost for the renter is double the national average.
16. Manhattan
- Median Household income:- $85,066
- Median House Price:- $1,013,400
- Unemployment rate:– 16.0%
- City population:- 1,628,701
- Cost of living:- 145.7% above US average
If you’re already living in Manhattan, you’ll get to know how expensive it is to live there.
The home prices in Manhattan are second-highest than San Francisco. According to the cost of living index, the house-related cost for renters is about $5,102 a month.
On the other hand, the cost for transportation in Manhattan is about 47% above the national average.
If you want to watch movies in Manhattan, we want to tell you that the prices of tickets are also 50% higher than the national average.
17. Brooklyn, NY
- Median Household income:- $61,220
- Median House Price:- $759,400
- Unemployment rate:- 20.5%
- City population:- 2,582,830
- Cost of living:- 80.5% above US average
Brooklyn is the third-largest city in the nation and emerged as something of the metropolis.
If you couldn’t afford to live in Manhattan, you can live in Brooklyn, New York.
The house-related price for the renters is about 240% more than the national average.
On the other hand, the household income in Brooklyn is below the household income in Manhattan.
18. Arlington, VA
- Median Household income:- $122,394
- Median House Price:- $707,000
- Unemployment rate:- 5.9%
- City population:- 237,521
- Cost of living:- 50.5% above US average
Arlington is another expensive city visited across the Potomac River from Washington, DC.
Arlington is one of the cities with the highest cost of living. According to the cost of living index, the house-related price for renters is 2.6 times exceeding the national average.
19. Orange County
- Median Household income:- $75,822
- Median House Price:- $580,100
- Unemployment rate:- 13.7%
- City population:- 1,704,670
- Cost of living:- 50.2% above US average
Did you know? The synonymous for Orange County means wealth. The median house price is more than $1.8 million, making Orange County’s reputation for sheltering many of southern California’s wealthiest.
According to the cost of living index, the average house rent is about $998,256.
These numbers make Orange County’s house market the sixth priciest market in the country.
20. Stamford
- Median Household income:- $91,079
- Median House Price:- $435,000
- Unemployment rate:- 10.3%
- City population:- 943,823
- Cost of living:- 36.4% above US average
Stamford is also the wealthiest city making its living in a massive apple. If you live in Stamford, you can make a good earning.
Stamford covers numerous metro areas, including Bridgeport and Norwalk and many public companies like Booking Holdings and Xerox.
However, all these high-paying jobs make Stamford one of the most expensive cities in the US.
On the other hand, the house-related cost for renters is 89% higher than the national average.
Wrapping up
We hope after seeing the list of 20 most expensive cities in the US, you must get an idea of which city is under your budget. However, the statistics shown for every town will tell you which one is more expensive. So what will be your next city for vacation or living?
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