In this article, we will list 7 cities with the highest cost of living in the US. If you want to read our discussion on inflation and the rising cost of living, go to 20 Cities With the Highest Cost of Living in the US.
7 – Miami, Florida
Insider Monkey Score – 7
Miami, Florida, is 7th on our list of the 20 cities with the highest cost of living in the US. The cost of living in the city is 21% higher than the national average, with housing expenses being the most significant contributor. In addition, the median home price of $517,987, is much higher than the national average.
6 – Washington, DC
Insider Monkey Score – 7
Washington, DC, is one of the top 7 most expensive cities in the US. The city has high rent, food, and transportation prices. Housing expenses in the city are particularly high. A house costs 148% more in Washington, DC than the national average. The median home price in the city is $1,117,362, and the median rent is a whooping $3,397 per month.
5 – Boston, Massachusetts
Insider Monkey Score – 5
Boston is among the top 5 cities with the highest cost of living in the US. The cost of living in the city, for one person, is $2,899 per month, placing it in the top 1% of the most expensive cities in the world. Transportation and food costs in the city are 38.1% and 24% higher than the national average, respectively. In addition, the city’s housing expenses are almost 300% of the national average.
4 – San Jose, California
Insider Monkey Score – 5
San Jose is one of the most expensive cities to live in the world. The city has high housing, transportation, and healthcare costs. Its cost of living is 49% higher than the national average. In addition, houses in the city are 61.5% more expensive than the state average.
3 – San Diego, California
Insider Monkey Score – 5
San Diego, California, is among the top 3 cities with the highest cost of living in the US. Housing expenses in San Diego, in particular, are higher. A two-bedroom unit in the city costs upwards of $3,000. Housing costs in the city are 123% higher than the national average.
2 – San Francisco, California
Insider Monkey Score – 2.5
San Fransisco is one of the most expensive cities in the world. Its cost of living is 79% higher than the national average. Houses in the city, on average, are 207% more expensive than the national average, and the median home price is upwards of $4,000 a month.
1 – New York City, New York
Insider Monkey Score – 1.5
New York City tops our list of the 20 cities with the highest cost of living in the US. According to the Economist Intelligence Unit’s Worldwide Cost of Living Report, it is the third most expensive city in the world. The city has a thriving economy, diverse culture, and an excellent quality of life, which attracts high earners from all around the world, driving the prices higher. The median rent for a two-bedroom apartment in New York City is $6,191. For perspective, the national median rent for a two-bedroom apartment is $1,306.
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