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7 Most Expensive Cities in the U.S.

Cost of Living

The cost of living has gone up for most of us across the US. But, some places are and will always be more expensive to live in than others.

Some of us are glad to make the sacrifices needed to live in the most expensive cities in the US. Others would rather trade the high cost of living for a more a less hip location that leaves money in their pockets at the end of the day.

So, what are the most expensive places to live?

It probably won’t surprise you that the places with a high cost of living are all big cities, usually on the east or west coast.

Take a look at the seven priciest places to hang your hat:

New York City

Three of the five boroughs of New York City are among the most expensive places to live. Manhattan, or the “Big Apple,” has the honor of being the priciest city in the country.

The average home price in Manhattan is over $1.3 million. The cost of living index, which accounts for housing prices, utilities, food, transportation and miscellany, is a staggering 225.4. The national average is 100.

Two other boroughs of NYC are also quite pricey. Brooklyn comes in second with a cost of living index of 178.6, pretty high, but not close to the index for Manhattan.

The average Brooklyn home costs just under $1 million. Queens is slightly more affordable, with a cost of living index of 148.3. The average home there costs just $630,000.

Honolulu, Hawaii

It might come as no surprise that Honolulu has a high cost of living. The city is on an island that’s known for its beauty and great weather. Plus, being on an island means it difficult for items to reach you.

For example, the average cost of a gallon of milk in Honolulu is more than $3, compared to just over $2 in New York City. The average home cost is pretty modest compared to the other most expensive cities in the US, just $668,020.

San Francisco, California

With a cost of living index of 163.4, San Francisco is the third most expensive city in the country. The average home costs $810,067, meaning the city only trails New York in terms of having the most expensive housing market.

The cost of living in San Fran may be high, but the cost of wine is lower there than anywhere else in the country.

San Jose, California

A city of millionaires, San Jose has a high median income of $79,405, 50 percent higher than the median income for the rest of the country. It also has the most millionaires per square inch.

While people have high incomes in San Jose, the cost of living index is lower than in it is in San Fran or NYC, at 153.4 But, the average apartment rents for twice the national average there, with rates averaging $1,728 per month.

Stamford, Connecticut

Housing and other costs of living are nearly twice the national average in Stamford. The typical home sells for $569,411 while a gallon of milk costs $2.51, more expensive than in New York City.

Although it’s expensive, its proximity to Manhattan makes it an appealing option for people who need to travel to NYC often.

Washington, DC

Expensive homes put the nation’s capital in 6th place. The average home in the capital costs $746,549 and the overall cost of living index is 144.6.

To make up for the high cost of living in DC, the area is full of jobs with higher than average incomes.

Orange County, California

The third city in California to land on this list, the cost of living index for Orange County is 140.6, making is slightly more expensive than Boston, which has a cost of living index of 139.9.

While the average cost of a gallon of milk or a T-Bone steak in the OC is cheaper than elsewhere, it’s the pricey homes that put the OC on this list. The average home cost is $682,703.

After reading the list of the most expensive places to live, you might be wondering where to go if you want to live cheaply.

The answer is: Texas.

Brownsville, Texas has the lowest cost of living index, at just 80. The average home price is $209,177 while the average rent is just $659 per month.

You’ll also spend a lot less there on groceries and other daily necessities than you would anywhere else. Texas is also home to several other cheap places to live, including Waco and Austin.

“7 Most Expensive Cities in the U.S.” was written by Kelly Anderson.