The cost of living in the U.S. can differ from city to city; while some cities offer a relatively affordable lifestyle, others are notorious for their high prices and steep costs. It’s essential to know how much it costs to live in a particular city, especially if you’re considering moving. Here is a list of ten popular American cities and the costs associated with living in these cities.
LOS ANGELES, CALIFORNIA
Los Angeles, the city of Angels, is the most populous city in California and the second largest city in the United States after New York City. It is home to numerous iconic neighborhoods, such as Hollywood, Downtown, L.A. Venice Beach, and Malibu, and is surrounded by 75 miles of coastline.
To live in Los Angeles, one needs an average annual income of $47067 after taxes, but to live comfortably, $110,781 is required annually. The city is one of the most expensive in the U.S., with a cost of living that is 51% higher than the national average. Utilities cost 11% more, and healthcare costs 12% more. The median home price is $1040000, 140% higher than the national average.
NEW YORK CITY, NEW YORK
New York City, or NYC, is the largest city in the United States, with over 8.8 million people. It is one of the most ethnically diverse cities in the world, with over 800 languages spoken, and is a top tourist destination, receiving over 60 million visitors annually.
The average annual income after taxes required to live in New York City is $57145, but $138,570 is needed to live comfortably. New York is one of the most expensive cities in the world and the U.S. The cost of living is 128% higher than the national average, utilities cost 3% more, and healthcare costs 8% more than the rest of the U.S.
The median home price in NYC is $825000, 385% higher than the national average.
SEATTLE, WASHINGTON
Seattle is the largest city in Washington state and the headquarters for multiple Fortune 500 companies like Amazon, Microsoft, and Starbucks. The average annual income required after taxes is $51452, but to live comfortably in Seattle, one needs $119392.
The cost of living in Emerald City is 45% higher than the national average, while utilities cost 6% more and healthcare costs 30% more. The median home price is a whopping $847500, 111% higher than the national average.
AUSTIN, TEXAS
Austin, the capital of Texas, is the 11th largest city in the United States. It is surrounded by the beautiful Colorado River, Barton Creek Greenbelt, and the Balcones Canyonlands Preserve.
The average annual income required after taxes is $35014, but to live comfortably in Austin, one needs $99757.
The cost of living in Austin is only 1% higher than the national average, while utilities cost 6% more and healthcare costs 3% more. The median home price is $570000, 16% higher than the national average.
BOSTON, MASSACHUSETTS
Boston is the largest city in Massachusetts. It is home to prestigious institutions like Harvard and MIT and many Fortune 500 companies, such as State Street, Wayfair, and American Tower.
The average annual income required after taxes is $52155, but to live comfortably in Boston, one needs $124966.
Boston’s cost of living is 50% higher than the national average, while utilities cost 25% more and healthcare costs 19% more. The median home price is $774500, 124% higher than the national average.
EL PASO, TEXAS
El Paso is the 22nd most populous in the United States. El Paso is a unique city situated at an intersection of three states -Chihuahua, New Mexico, and Texas and two countries-Mexico and the U.S.
The average annual income required after taxes is $33002, but $75254 is needed to live comfortably in El Paso.
The cost of living is 10% lower than the national average, while utilities cost 9% more and healthcare costs 2% less. The median home price is $240000, 30% lower than the national average.
MONTEREY, CALIFORNIA
Monterey is a beautiful city and a popular tourist destination. It is known for its scenic 17-mile Drive, the famous Monterey Bay Aquarium, and the historic Cannery Row.
The average annual income required after taxes is $57334, but to live comfortably in Monterey, one needs $116400.
The cost of living in Monterey is 54% higher than the national average, while utilities cost 11% more and healthcare costs 12% more. The median home price is $1000000, 152% higher than the national average.
SAN DIEGO, CALIFORNIA
San Diego is the oldest town in California, dating back to 1769. The city is a major tourist destination, known for its world-famous San Diego Zoo, the historic Gaslamp Quarter, the USS Midway Museum, and the stunning Balboa Park.
The average annual income required after taxes is $51796, but $122803 is needed to live comfortably.
The cost of living in San Diego is 44% higher than the national average, while utilities cost 13% more and healthcare costs 4% more. The median home price is $970000, 123% higher than the national average.
LAS VEGAS, NEVADA
Las Vegas, also known as “Sin City” and the “Entertainment Capital of the World,” is a city in the Mojave Desert, Nevada. It is known for its extravagant casino hotels, world-class entertainment, and lively nightlife. Vegas is Nevada’s economic center and largest city.
The average annual income required after taxes is $41023, but $94432 is needed to live comfortably in Las Vegas.
Despite being a famous tourist attraction, the cost of living in Vegas is only 1% higher than the national average. Utilities cost 2% more, and healthcare costs 7% less than in the rest of the U.S.
The median home price is $435000, 10% higher than the national average.
MIAMI FLORIDA
Miami, a famous tourist destination, is Florida’s second most populated city. It is nicknamed the “Cruise Capital of the World” because five million people travel by cruise ship here. Miami is also the only major city founded by a woman, Julia Tuttle, in 1896.
The average annual income required after taxes is $43266, but $100922 is needed to live comfortably in Miami.
Miami is one of the most expensive states in the United States and the world, so it’s not surprising that the cost of living in Miami is only 21% higher than the national average. Utilities cost 6% more, and healthcare costs 5% less than in the rest of the U.S.
The median home price is $620,000, 47% higher than the national average.