What is The list of the top 10 most expensive cities in USA? The following are the ten cities in the United States with the highest cost of living. We used Kiplinger data to produce a list of the top ten cities in the United States with the highest cost of living. The cost of living in each city is much more than the national average, while the median house value is significantly higher than the national average.
The yearly average pay for all jobs in the United States is $51,960, according to the Bureau of Labor Statistics. To showcase how costly each of these cities is, we utilized a cost of living calculator to show how much that income is worth in each place. For comparison, we picked Atlanta, Georgia, as the resident’s originating city, a city with a cost of living that is just around the national average.
The list of top 10 most expensive cities in the USA
10. Boston, MA
If you moved from Atlanta to Boston and earned the national average pay of $51,960, you’d need to find a job that paid at least $75,137 to maintain your current quality of life. This is because the cost of living in Boston is 50% greater than the national average.
Boston does have a lower-than-average unemployment rate, which increases your chances of finding and keeping a job. The unemployment rate in December 2019 was just 2.1 per cent.
9. Queens, NY
To have the same purchasing power as a $51,960 income in Atlanta, you’d need to make at least $75,387 if you wanted to relocate to Queens, New York. Queens has a cost of living that is 52% higher than the national average. You’ll confront a considerably more competitive housing market in particular. The typical house value in Queens is $531,000, while the median rent for an apartment is $2,250, according to Zillow.
8. Arlington, VA
Arlington’s closeness to the Pentagon and the nation’s capital makes it a popular destination for government employees and attorneys, and the cost of living reflects this. The cost of living in Arlington is 53% more than the national average, while the median house value is $737,932 – about $50,000 more than the national median home value.
To maintain your quality of life if you relocated from Atlanta to Arlington, you’d need to earn at least $76,588.
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7. Oakland, CA
When it comes to housing in Oakland, be prepared for sticker shock. Oakland’s median house value is $765,350. The median rent for an apartment is $3,000 per month. This is about three times the national median rent for a one-bedroom apartment.
You’d need to earn at least $80,193 per year in Oakland to have the same spending power as you had in Atlanta.
6. Seattle, WA
The cost of living in Seattle is 54.8 per cent more than the national average. You’d need to earn at least $79,792 to maintain your quality of life after migrating from Atlanta. Be prepared to pay a large amount of money if you want to be a homeowner. Seattle’s median house value is $752,187. If you choose to rent, the median rent is $2,600 per month.
The area’s unemployment rate is quite low. It was just 2.2 per cent in December 2019. The median household income in the United States was $85,562.
5. Washington, D.C.
The national capital’s cost of living is 62.6 per cent more than the national average. To have the same purchasing power as previously, you’d need to earn at least $82,095 if you moved from Atlanta to Washington, D.C.
The typical household income is an impressive $82,604 per year. The area’s typical house value is $636,372, while the median rent is $2,700. However, unemployment is relatively high in Washington, D.C. It was 5.3 per cent in December 2019. It may be tough to obtain a job unless you already have one set up since it is a highly competitive market.
4. Brooklyn, NY
Brooklyn has become a more attractive neighbourhood for New Yorkers to reside in, and as a consequence, it has gotten more costly. Its cost of living is 81.7 per cent more than the national average, and you’d need to earn $92,206 to keep up with the Joneses.
While the property market is pricey, salaries are often modest. The typical household income in Brooklyn is about $56,015. Furthermore, the unemployment rate is relatively high. According to the most recent available statistics, the unemployment rate was 4.6 per cent in 2018.
3. Honolulu, HI
Moving to an island paradise may seem like a dream come true, but it comes at a high cost. The cost of living in Honolulu is 89.7 per cent more than the national average because so many of your daily necessities must be imported. To maintain your quality of life in Atlanta, you’d need to earn $100,766 in Honolulu.
Honolulu’s typical house value is $705,505, while the median rent is $2,200. Honolulu has a low unemployment rate of 2.1 per cent as of December 2019.
2. San Francisco, CA
Salesforce, Kimpton Hotels & Restaurants, and Genentech are just a few of the prominent employers that call San Francisco home. Because there are so many large enterprises in the neighbourhood, workers may typically fetch a high salary. San Francisco’s typical household income is $110,601, which is much more than the national median income.
However, the cost of living in San Francisco is 96.3 per cent more than the national average. You’d need to find a job that earned at least $100,166 per year to maintain your quality of life.
San Francisco has a median house value of $1,392,859. If you want to rent an apartment, be prepared to pay a hefty rent; the typical monthly rent is a whopping $4,500.
1. Manhattan, NY
Manhattan is well-known for its exorbitant cost of living. It has a 148.5 per cent higher cost of living than the national average. If you moved from Atlanta to Manhattan, you’d need to raise your pay to $127,497 to maintain your level of living – a $75,537 increase over your present wage. Everything is more costly in Manhattan, including rent, food, and transportation.
In Manhattan, the typical house value is $1,013,116, while the median rent is $3,450. Unfortunately, since Manhattan has a relatively high unemployment rate, finding and retaining a job to pay for those housing prices might be challenging. It was 4.1 per cent in 2018 (the most recent available data).