Want to move to where the action is? Be warned-it’s not going to be cheap. We’ve compiled a list of the 10 most expensive cities in the U.S. so you can determine how far your pay will go if you decide to live in one of these major industry hubs.
This list is based on statistics compiled in the 2018 Cost of Living Index (COLI) by the Council for Community and Economic Research. The cost of living scores compares median household income against all costs including median home prices, medical expenses, public transit costs, and groceries.
10. San Diego, California
- Overall Cost of Living: 46.1% above U.S. average
- Population: 1.42 million (2017)
- Median Household Income: $68,117
- Median Home Value: $488,600
- Unemployment Rate: 3.6%
San Diego is a cultural hub and home to beautiful beaches and the famous San Diego Zoo. It also happens to be the 10th most expensive city in the U.S. There’s a price for the gorgeous weather they get year-round!
9. Los Angeles, California
- Overall Cost of Living: 48.0% above U.S. average
- Population: 4 million (2017)
- Median Household Income: $51,538
- Median Home Value: $496,300
- Unemployment Rate: 4.4%
The City of Angels is where many aspiring creatives go to realize their dreams. Unfortunately for them, the cost of living can make it hard to make ends meet. If Hollywood beckons, be sure you can afford to live here before flying down.
8. Boston, Massachusets
- Overall Cost of Living: 48.2% above U.S. average
- Population: 685,094 (2017)
- Median Household Income: $58,516
- Median Home Value: $423,200
- Unemployment Rate: 3.5%
Home of the Liberty Trail and amazing clam chowder, Boston is at the intersection of history, culture, and industry. It boasts a smaller population than many of the other cities on this list but comes in as the 8th most expensive.
7. Seattle, Washington
- Overall Cost of Living: 49.0% above U.S. average
- Population: 724,745 (2017)
- Median Household Income: $74,458
- Median Home Value: $484,600
- Unemployment Rate: 4.7%
One of the fastest growing cities in the U.S. with a booming tech hub, you’ll be paying a premium to live in the birthplace of Starbucks. The cost of living is in line with the height of Seattle’s nearby giant redwood trees.
6. Oakland, California
- Overall Cost of Living: 49.5% above U.S. average
- Population: 425,195 (2017)
- Median Household Income: $57,778
- Median Home Value: $500,500
- Unemployment Rate: 3.0%
Being in close proximity to both San Francisco and Silicon Valley but lacking as many high paying jobs, housing prices in Oakland are high while the median income of residents is close to that of the U.S. average. You do the math.
5. Washington, D.C.
- Overall Cost of Living: 55.7% above U.S. average
- Population: 693,972 (2017)
- Median Household Income: $72,935
- Median Home Value: $506,100
- Unemployment Rate: 3.8%
The capital of the U.S. demands that you earn high capital to live there comfortably. However, while housing and rent here are expensive, other expenses don’t run as high as others on this list.
4. Brooklyn, New York
- Overall Cost of Living: 82.0% above U.S. average
- Population: 2.65 million (2017)
- Median Household Income: $50,640
- Median Home Value: $590,500
- Unemployment Rate: 4.6%
Brooklyn’s population and status warrant it a special place on our list, despite being a part of New York City. While Brooklyn is slightly cheaper than living in Manhattan, it’s worth noting that the average median household income is actually lower than the U.S. average.
3. Honolulu, Hawaii
- Overall Cost of Living: 88.3% above U.S. average
- Population: 351,792 (2017)
- Median Household Income: $77,161
- Median Home Value: $602,700
- Unemployment Rate: 2.0%
Welcome to paradise. Unfortunately, being on a remote island means higher food and gas prices. Its tropical climate combined with being part of the U.S. economy makes Honolulu the 3rd most expensive city in the U.S.
2. San Francisco, California
- Overall Cost of Living: 92.9% above U.S. average
- Population: 884,363 (2017)
- Median Household Income: $87,701
- Median Home Value: $858,800
- Unemployment Rate: 3.0%
Personified by The Golden Gate Bridge, San Francisco is a cultural and industrial hub and the financial center of Northern California. Its incredibly high property value and cost of living make San Francisco the 2nd most expensive city in the U.S.
1. Manhattan, New York
- Overall Cost of Living: 138.6% above U.S. average
- Population: 1.65 million (2017)
- Median Household Income: $75,513
- Median Home Value: $871,500
- Unemployment Rate: 4.6%
Without a doubt, Manhattan is the most expensive place to live in the U.S. with a cost of living score that is more than double the U.S. average. If you want to live where the money is, you need to have a lot of it.
What About The Most Affordable Cities?
We hope you found this guide helpful in doing research for a potential move. For a list of cities where the cost of living is less than average, be sure to read our Top 10 Most Affordable Cities in the U.S. list.