The United States is home to some of the most amazing cities in the entire world. From New York that the entire world flocked to in the 19th century to Los Angeles, home to Hollywood, the most important film industry on the planet. While living in those cities certainly is amazing, the cost of it can be pretty high. So, if you are looking to live in some of America’s greatest cities, you also need to know which are the most expensive cities in the US. While the cost of goods, real estate, and entertainment is very important it’s also vital to know how much is it compared to income. Here are some cities that have made it to the top of the list. Whether it’s worth it, it’s up to you. But one thing is for certain. If you can make it there, you can make it anywhere.
How to know which are the most expensive cities in the US?
There are many factors that determine the most expensive cities. Having all the facts can help you better determine where to move to. So, before you start looking for long distance moving companies, make sure you have all the facts.
One of the most important factors is the general cost of living. That means how much is it going to cost you to live in a city of your choosing. Everything from groceries to utilities. The next very important factor is the real estate prices. Even if you don’t intend to buy a home, real estate prices have a huge impact on rent prices. So, that’s an important thing to know before moving. Comparing these figures to the national average allows us to see just how expensive it really is to live in a given city.
Income is also important when determining how expensive cities are
All these figures are important, but they don’t paint the entire picture. Only once you add average income into the mix do you have a clear picture. For example, a city can be very affordable to live in, but if the income is very low, the livability standard will also be much lower. So, once we crunch all the numbers we can see which cities are most affordable and which are the most expensive ones. So let’s get to it.
New York City is one of the most expensive cities in the US year after year
New York City, The Big Apple, is arguably one of the most amazing cities in the entire world. It’s certainly a great privilege to call yourself a New Yorker. And while it truly has everything to offer, it’s also one of the most expensive cities in the US. So, before you start looking for long distance moving companies New York City, make sure you have all the info.
Let’s start with the cost of living, which in Manhattan currently sits at around 142% above the national average. That means that it’s more than twice as expensive as your average American town. That said, NYC has a pretty good median household income that is around $80,000. Is that enough to offset the high cost of living? Not likely. So, unless you land a high-paying job, it’s going to be tough going at first.
- The median monthly rent in NYC is just above $5,000
- The median home price is just over $2,000,000
- The unemployment rate sits at 3.8%
- The poverty rate is at 16.3%
San Francisco, California
Next on our list is sunny San Francisco, one of the most beautiful and most interesting cities in the US. Home to the Golden Gate Bridge, world-famous Alcatraz prison, countless tech companies and so much more. It’s no wonder that so many people flock to this amazing city. his is definitely a city worth moving to just for the beauty of it and the opportunities it offers. So you might take a look at cross country moving companies San Francisco. But, bear in mind that it’s also a very expensive city to live in.
The cost of living is not as bad as in NYC, but it’s still double of the national average. What puts San Fran at a much better spot than The Big Apple is an even higher median household income, which sits at just over $96,000. The monthly rent should set you back around $4,300. At least finding a job will be easier, because the unemployment rate is just 2.3%.
- The median home price is around $1,350,000
- The poverty rate is 11.7%
Honolulu, Hawaii is the third most expensive city in the United States
We started on the east coast, moved to the west and now we are going further west, all the way to Hawaii. It’s pretty obvious why living in Hawaii would be expensive. They are located far off the mainland, so most of the goods for modern life need to be transported there. Even though it’s expensive, it’s still Hawaii, one of the most beautiful places in the entire world. So finding long distance moving companies Honolulu and moving is the dream for many people. That said, here are some stats that put things into perspective.
The cost of living is high but not as high as the previous two cities. It sits at around 91% above the national average. Still expensive, but not that bad, especially considering it’s Hawaii. Median household income is not too shabby as well and is around $80,000. Buying a home in Honolulu might be a problem for many, as the median home price is around $1,390,000. Is it worth it for a chance to live in paradise on earth? That’s up to you to decide.
- Median monthly rent is just shy of $3,000
- The unemployment rate is 3.1%
- The poverty rate is 8.3%
It’s time to get back to the east, to the country’s capital – Washington DC. Even though it’s not as expensive as other cities on this list, it’s still quite costly to live here. While the other cities on this list have massive industries in terms of tourism, tech, trade, etc. Washington has the United States Government. That might not sound like much, especially if you are not looking to get into politics. But that sector doesn’t just employ people directly. It also pushes many other industries that developed around it.
The cost of living in DC is around 63% higher than the national average. And with a median household income of around $77,000, it makes living there a bit more difficult than in your average town. Homes are a bit more affordable than in Hawaii, with the median home price at around $1,000,000.
- The median rent price is $3,000
- The unemployment rate is 5.6%
- The poverty rate is 16.6%
Is it worth moving to some of the most expensive cities in the US?
The answer to this question is entirely up to you. All the cities on this list have a lot to offer, both in terms of employment as well as living standard. It’s up to you to rise above the median income and provide a better life for yourself. So you might want to head onto Verified Movers and start looking for a quality moving company. Because one thing is certain. If you can make it in these cities, you can make it anywhere.