Top 10 most expensive Cities to live in the U.S 2020
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| most expensive cities in the us |
Depending on where you reside, your income might not offer you the maximum amount of spending power as you expect. as an example, someone making $100,000 in Lancaster, Pennsylvania are going to be much more comfortable than someone making $100,000 in Manhattan, New York.
If you’re thinking of moving to a replacement city, consider the value of living before committing to relocating. The city’s cost of living can have an enormous impact on your income and your ability to handle your expenses, including your student loan repayment if you've got education debt.
10 Cities with the very high Cost of Living within the US
To come up with an inventory of the ten U.S. cities with the very best cost of living, we checked out information compiled by Kiplinger. In each city, the value of living is well above the national average and therefore the median home value is over $450,000 well above the median home value for the state as an entire.
According to the U.S. Bureau of Labor Statistics, the annual average wage for all occupations is $51,960 to point out you only how expensive each of those cities actually is, we used a price of living calculator to demonstrate what that salary is worth in each location. For the sake of comparison, we used Atlanta Georgia because of the resident’s original city — a city that's right at the national average in terms of cost of living.
Here are the ten costliest U.S. cities to measure certain 2020
most expensive cities in the us number 10
Boston, MA
If you relocated from Atlanta to Boston and earned the national average wage of $51,960 you’d need to get employment that paid a minimum of $75,137 to take care of an equivalent standard of living that you’re familiar with in Boston. That’s because Boston’s cost of living is 50% above the national average.
Boston does have a below-average percentage, increasing your chances of finding and maintaining employment. As of December 2019, the percentage was just 2.1%.
most expensive cities in the us number 9
Queens, NY
If you would like to maneuver to the Queens section of the latest York, you’d need to earn a minimum of $75,387 to possess an equivalent spending power as you'd with a $51,960 salary in Atlanta. the value of living in Queens is 52% above the national average. especially, you’ll face a way more competitive housing market. consistent with Zillow, the median home value in Queens is $531,000 and therefore the median rent price for an apartment is $2,250.
most expensive cities in the us number 8
Arlington, VA
Arlington’s proximity to the Pentagon and therefore the nation’s capital makes it a hotspot for state workers and lawyers, and therefore the cost of living reflects that. Its cost of living is 53% above the national average, and therefore the median home value in Arlington is $737,932 — nearly $500.000 quite the national median home value.
If you moved from Atlanta to Arlington, you’d need to earn a minimum of $76,588 to take care of your standard of living.
most expensive cities in the us number
Oakland, CA
In Oakland, be prepared for sticker shock when it involves housing. The median home value in Oakland is $765,350. The median rent for apartments may be a whopping $3,000. That’s quite 3 times the national median rent for a one-bedroom apartment.
To have equivalent spending power in Oakland as you probably did in Atlanta, you’d need to earn a minimum of $80,193 per annum.
most expensive cities in the us number 6
Seattle, WA
Seattle’s cost of living is 54.8% above the national average. to take care of your standard of living after relocating from Atlanta, you’d need to earn a minimum of $79,792. If you would like to be a home-owner, be prepared to spend a big amount of cash. The median home value in Seattle is $752,187. If you favor renting, the median rent price is $2,600.
The percentage within the area is comparatively low. As of December 2019, it had been just 2.2%. The median household income was $85,562.
most expensive cities in the us number 5
Washington, D.C
The cost of living within the nation’s capital is 62.6% above the national average. If you relocated from Atlanta to Washington D.C., you’d need to earn a minimum of $82,095 to possess an equivalent spending power as you probably did before.
The median household income may be a high of $82,604. The median home value within the area is $636,372, and therefore the median rent price is $2,700. However, unemployment in Washington D.C. is sort of high. As of December 2019, it had been at 5.3%. Unless you have already got employment lined up, it's going to be difficult to seek out an edge since it’s a really competitive market.
most expensive cities in the us number 4
Brooklyn, NY
Brooklyn has become a more desirable area for brand spanking new Yorkers to measure, and it’s become costlier as a result. Its cost of living is 81.7% above the national average, and you’d need to earn $92,206 to take care of your standard of living.
While the housing market is dear, incomes tend to be relatively low. The median household income for Brooklyn residents is simply $56,015. And, the percentage is sort of high. As of 2018 — the last available data — the percentage reached 4.6%.
most expensive cities in the us number 3
Honolulu, HI
Moving to an island paradise may sound sort of a dream come true, but that dream comes with a hefty tag. Honolulu’s cost of living is 89.7% above the national average, largely because such a lot of your everyday essentials got to be imported. to take care of the quality of living you enjoyed in Atlanta, you’d need to earn $100,766 working in Honolulu.
The median home value in Honolulu is $705,505, and therefore the median rent price is $2,200. Unemployment is Honolulu is low; as of December 2019, unemployment was at 2.1%.
most expensive cities in the us number 2
San Francisco, CA
Many major employers call San Francisco home, including Salesforce, Kimpton Hotels & Restaurants, and Genentech. With such big companies within the area, employees can often command high salaries. The median household income for San Francisco is $110,601, well above the national median income.
However, San Francisco’s cost of living is sort of high; it’s 96.3% above the national average. to take care of your standard of living, you’d need to find employment that paid a minimum of $100,166 per annum.
The median home value in San Francisco is $1,392,859. If you would like to rent an apartment, be prepared to pay a high price; the median rent price may be a staggering $4,500 per month.
most expensive cities in the us number 1
Manhattan, NY
Manhattan is notorious for its sky-high cost of living. In fact, its cost of living is 148.5% above the national average. If you were to maneuver to Manhattan from Atlanta, you’d need to increase your salary to $127,497 to take care of your standard of living — a $75,537 increase over your current income. Everything in Manhattan is costlier, especially housing, food, and transportation.
The median home value in Manhattan is $1,013,116, and therefore the median rent price is $3,450. Unfortunately, finding and keeping employment to buy those housing costs are often difficult since Manhattan does have a comparatively high percentage. As of 2018 — the last available data — it had been at 4.1%.
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