3 Cities You Probably Can't Afford to Live In

(Image credit: Andrew Thomas)

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

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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.

Dan Burrows is Kiplinger's senior investing writer, having joined the publication full time in 2016.

A long-time financial journalist, Dan is a veteran of MarketWatch, CBS MoneyWatch, SmartMoney, InvestorPlace, DailyFinance and other tier 1 national publications. He has written for The Wall Street Journal, Bloomberg and Consumer Reports and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among many other outlets. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange.

Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.

In his current role at Kiplinger, Dan writes about markets and macroeconomics.

Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.

Disclosure: Dan does not trade individual stocks or securities. He is eternally long the U.S equity market, primarily through tax-advantaged accounts.