3 Cities You Probably Can't Afford to Live In
High cost of living puts these places out of reach for most would-be homebuyers and renters.
Even if you make a good living, your paycheck may not be enough to cover the high cost of residing in one of the nation’s most expensive cities. Outrageous rents and real estate prices are just the start. Expect to pay more – a lot more – for everything from groceries to gasoline. Here are the three U.S. cities with the highest cost of living.
1. Manhattan
City Population: 1.6 million
Cost of Living: 127.8% above U.S. average
Median Household Income: $72,871 (U.S.: $53,889)
Median Home Value: $848,700 (U.S.: $178,600)
Average Monthly Rent: $4,239 (U.S.: $1,004)
Unemployment Rate: 4.8% (U.S.: 4.9%)
Highlight: “Hamilton” on Broadway
2. Sunnyvale, Calif.
City Population: 151,754
Cost of Living: 122.9% above U.S. average
Median Household Income: $105,401 (U.S.: $53,889)
Median Home Value: $790,300 (U.S.: $178,600)
Average Monthly Rent: $3,092 (U.S.: $1,004)
Unemployment Rate: 3.8% (U.S.: 4.9%)
Highlight: Silicon Valley
3. Honolulu
City Population: 992,605
Cost of Living: 90.1% above U.S. average
Median Household Income: $74,460 (U.S.: $53,889)
Median Home Value: $580,200 (U.S.: $178,600)
Average Monthly Rent: $2,996 (U.S.: $1,004)
Unemployment Rate: 2.8% (U.S.: 4.9%)
Highlight: Palm trees and trade winds
See the full list of the most expensive U.S. cities to live in.
