Most Expensive Cities In US To Live In 2024
By Biraj Khanal | On 11 March 2024 09:55 AM
In the US, living large comes with a hefty price tag. Cities like Honolulu reign supreme, its island isolation inflating housing and everyday costs.
San Francisco's tech boom and New York's bustling heart push their costs sky-high, making them playgrounds for the well-heeled. California's sunshine beckons, but San Jose and Los Angeles demand a premium for proximity to tech giants and Hollywood glamour.
Even beyond the coasts, Boston's historic charm and Washington D.C.'s power corridors come at a cost. While these cities pinch wallets, they offer unique experiences and opportunities that might just be worth the premium.
1. Oakland, California
- Cost of Living ( Family of Four without Rent): $4,491.2$
- Median Home Price: $862K
- Population: 440,646
- Average Rent: $2680
Oakland, California is considered an expensive city to live in, although not quite as expensive as Honolulu. The overall cost of living is 44% higher than the national average which means you'll need to earn significantly more in Oakland to maintain the same standard of living as you would in most other parts of the US.
Housing is the biggest expense for most residents. The median home price in Oakland is more than $862K, and the average rent is $2,680, which is 98% higher than the national average. Groceries in Oakland are about 30% more expensive than the national average. Public transportation is readily available, but owning a car can be expensive due to gas prices and parking costs.
2. Seattle, Washington
- Cost of Living ( Family of Four without Rent): $5605.5
- Median Home Price: $825K
- Population as of 2023: 784,754
- Average Rent: $2,267
Seattle, Washington is indeed considered an expensive city to live in. It ranks consistently high on various cost-of-living indices. The biggest contributor to Seattle's high cost is housing as it is one of the US cities with the highest rent prices. The median home price in Seattle is around $825K, more than double the national average. Renting is also expensive, with one-bedroom apartments averaging around $2,267 monthly.
Seattle has higher expenses for other things beyond housing, but not as much as the national average. Groceries are almost 25% more than the national average. The transportation cost is almost 23% more than the national average. Healthcare expenses are around 30% more than the national average.
3. San Francisco, California
- Cost of Living ( Family of Four without Rent): $5567.9
- Median Home Price: $1,216,087
- Population as of 2023: 802,805
- Average Rent: $3,267
San Francisco, California is widely considered an expensive city to live in. Depending on the specific cost-of-living index used, it often ranks among the top 3 most expensive cities in the US. The median home price in the city currently exceeds $1.2 million, and even rents for apartments can be astronomical, with the median exceeding $3,200 for a one-bedroom unit.
Groceries, transportation, and utilities also tend to be more expensive in San Francisco than in most other parts of the country. Dining out and entertainment can also be pricey, especially in popular areas.
4. San Jose, California
- Cost of Living ( Family of Four without Rent): $5440.9
- Median Home Price: $1.3 million
- Population as of 2023: 950,767
- Average Rent: $2,961
San Jose, California, is considered a very expensive city to live in. The city boasts a booming tech industry, attracting a large population and limited housing availability. This combination pushes the median home price well above $1 million, with rents following suit.
While high salaries often attract people to the area, they also contribute to the inflated cost of living. Groceries, transportation, and utilities also tend to be more expensive in San Jose compared to the national average. Despite its high cost of groceries, transportation, and utilities, it boasts a vibrant tech scene, diverse culture, and natural beauty.
5. Brooklyn, New York City
- Cost of Living ( Family of Four without Rent): $5261.5
- Median Home Price: $800K
- Population: 2,679,620
- Average Rent: $3,558
Brooklyn, New York City is considered an expensive city to live in, but not quite as expensive as some other major cities in the US. Brooklyn's cost of living is roughly 50% higher than the national average. This means everyday expenses like groceries, transportation, and utilities will be noticeably more expensive than in most parts of the country. However, it's slightly cheaper than other suburbs of New York City as a whole, with an overall cost of living about 7.6% lower.
Housing is the biggest contributor, with the median home price around $800K and rents ranging from $2,000-$4,000+ per month depending on the neighborhood. However, it offers a unique blend of affordability and vibrancy compared to other parts of NYC, especially Manhattan.
6. Boston, Massachusetts
- Cost of Living ( Family of Four without Rent): $5261.5
- Median Home Price: $830K
- Population as of 2023: 675,647
- Average Rent: $3,926
Boston, Massachusetts is another expensive city to live in according to various cost-of-living indices among the most expensive cities in the United States in 2024. Housing costs are the biggest driver of Boston's high cost of living but the option for types of housing is limitless. The median home price in Boston is over $700,000, and rents are also very high, especially in desirable neighborhoods like Back Bay and Beacon Hill.
Boston is home to some of the best universities and hospitals in the world, which contributes to the city's high cost of living. Education and healthcare costs are significantly higher in Boston compared to the national average.
7. Washington, DC
- Cost of Living ( Family of Four without Rent): $5145.5
- Median Home Price: $615K
- Population as of 2023: 689,545
- Average Rent: $2422
Compared to the US average, Washington D.C.'s cost of living is 52% higher than the national average. It's less expensive than some other major cities like New York City and San Francisco, but still pricier than many others. The median home price is $615K, and rents can range from $1,500-$4,000+ per month depending on the neighborhood.
Prices for groceries and everyday items are generally higher than the national average, but there are affordable options available depending on where you shop. While Washington D.C. is indeed an expensive city, it also offers visits to the Smithsonian Institution, the National Mall, and the Whitehouse Tour or you can have a walk or ride along the Potomac River.
8. Los Angeles, California
- Cost of Living ( Family of Four without Rent): $4,945.90
- Population: 12,534,000
- Median home price: $836,831
- Average monthly rent: $1,685
Housing is often the biggest expense for residents. Los Angeles has a limited housing supply, especially in desirable areas, driving up prices significantly. The median home price in Los Angeles exceeds $795,000, and even renting an apartment can be quite costly.
In Los Angeles, traffic congestion is a big problem, and driving may be costly because of tolls, parking costs, and petrol prices. While there are choices for public transit, driving is often faster and less time-consuming than using it. Daily necessities like food and utilities are more costly in Los Angeles than they are nationwide, albeit not as much as they are in housing and transportation.
9. San Diego, California
- Cost of Living ( Family of Four without Rent): $4,943.50
- Population: 1,386,960
- Median home price: $919,507
- Median monthly rent: $2,997
San Diego, California is an expensive city to live in. In fact, according to U.S. News & World Report's 2023-2024 list. Housing costs are a major driver, with the median home price exceeding $800,000 and rents significantly above the national average.
Transportation costs are also high, with gas prices, car insurance, and public transportation fares exceeding national averages. The cost of groceries and other everyday goods is generally higher than the national average. Additionally, San Diego offers many advantages that may outweigh the higher cost of living for some people, such as its beautiful beaches, mild climate, and vibrant culture.
10. Portland, Oregon
- Cost of Living ( Family of Four without Rent): $4859.6
- Median Home Price: $527.5K
- Population: 652,503
- Average Rent: $1,728
Portland, Oregon, has a reputation for being a relatively affordable city, but its cost of living has been steadily rising in recent years. Portland's overall cost of living is about 10% higher than the national average. This means that everyday expenses like groceries, transportation, and utilities will cost you slightly more in Portland than in most other parts of the country.
Housing, however, is a different story. Portland's median home price is 62% higher than the national average, making it one of the most expensive housing markets outside of major coastal cities. While Portland isn't the cheapest city to live in, it offers a relatively affordable option compared to many other major cities, especially on the West Coast.
11. Sacramento, California
- Cost of Living ( Family of Four without Rent): $4852.4
- Median Home Price: $467K
- Population as of 2023: 534,056,
- Average Rent: $1,850
12. Atlanta, Georgia
- Cost of Living ( Family of Four without Rent): $4,491.2$
- Median Home Price: $382K
- Population as of 2023: 498,715
- Average Rent: $1,813
Atlanta's overall cost of living is about 1% higher than the national average. This means you can expect to pay a little more for things like groceries, transportation, and utilities compared to the rest of the country. However, it's significantly cheaper than many other major cities, such as San Francisco, New York City, and Los Angeles.
While Georgia's overall cost of living is below the national average, Atlanta is one of the more expensive cities in the state. It's about 12% higher than the state average. However, it is known for the Georgia Aquarium, Ponce City Market, and the iconic Peachtree roads.
13. Miami Florida
- Cost of Living ( Family of Four without Rent): $4706.9
- Median Home Price: $554.2K
- Population: 464,544
- Average Rent: $2,451
Miami's overall cost of living is roughly 20% higher than the national average. This means you can expect to pay more for most expenses, including housing, groceries, transportation, and utilities. Housing costs are particularly high, with the median home price exceeding $597,000 and rents averaging $2,451 per month. Additionally, groceries are 9% more expensive than the national average, and transportation costs are also higher.
Groceries are generally more expensive than the national average, especially fresh produce and imported goods. However, Miami offers a unique lifestyle with its beaches, vibrant culture, and exciting nightlife.
14. Denver, Colorado
- Cost of Living ( Family of Four without Rent): $4657.4
- Median Home Price: $580K
- Population as of 2023: 717,110
- Average Rent: $1,979
Denver's cost of living is higher than both the national average and the Colorado average. Overall, Denver's cost of living is about 11% higher than the national average. This means you can expect to pay more for housing, groceries, transportation, and other necessities.
Housing is the biggest factor driving up the cost of living in Denver. The median home price is currently around $580K, and rents can range from $1,200-$3,000+ per month depending on the neighborhood. Utilities (electricity, water, etc.) are about 13% less expensive in Denver compared to the national average.
15. Chicago, Illinois
- Cost of Living ( Family of Four without Rent): $4635.8
- Median Home Price: $344.9K
- Population as of 2023: 2,599,059
- Average Rent: $2,251
Chicago's overall cost of living is roughly 20% higher than the national average. This means you can expect to pay more for things like housing, groceries, transportation, and utilities compared to most other parts of the country.
The median home price is currently above $340,000, and rents can range from $1,500-$3,000+ per month depending on the neighborhood in Chicago. Grocery prices are about 5% higher than the national average, while other necessities like utilities are slightly lower. However, Chicago offers a vibrant urban lifestyle with diverse neighborhoods and cultural attractions.
16. Pittsburgh, Pennsylvania
- Cost of Living ( Family of Four without Rent): $4,491.2
- Median Home Price: $217K
- Population as of 2023: 297,812
- Average Rent: $1512
Pittsburgh, PA, boasts a slightly higher cost of living, around 0% to 2% depending on the source. This means you can expect to pay marginally more for everyday expenses like groceries, transportation, and utilities compared to the rest of the United States.
The biggest expense, it's around 7% cheaper than the national average. The median home price is above $217K, and rent averages $1,512 per month, offering more breathing room compared to other parts of the country. Despite slightly higher costs, Pittsburgh consistently ranks high in livability indices due to its cultural offerings, green spaces, and overall quality of life.
17. Honolulu, Hawaii
- Cost of Living ( Family of Four without Rent): $4309
- Population: 348,547
- Median home price: $729.5K
- Median monthly rent: $2,112
Hawaii consistently ranks as one of the most expensive cities to live in the United States, even exceeding cities like San Francisco and New York in certain categories. Being at 88% higher than the national average, you'll need nearly double the income to maintain the same standard of living compared to the rest of the US.
Median home price exceeds $700,000 and rents can be just as high, especially in popular areas. Importing necessities drives up costs. Prices are 50% higher than the national average, so be prepared to pay more for everyday items like food and toiletries. However, living in Honolulu offers beautiful scenery, pleasant weather, and a unique lifestyle and the best part is you can save a fortune as Hawaii is a US state with the lowest real estate tax rate.
18. Manhattan, New York City
- Cost of Living ( Family of Four without Rent): $4299
- Median Home Price: $1.2M
- Population as of 2023: 1,694,250
- Average Rent: $4,768
Living in Manhattan, the heart of New York City is known for its exorbitant cost of living. It consistently ranks among the most expensive cities in the United States, and even globally. Compared to the US average: Manhattan's cost of living is a staggering 127% higher than the national average.
Housing seems to be the biggest culprit, with the median rent for a one-bedroom apartment exceeding $4,700 and the median home price hovering around $1.2 million. While public transportation is extensive, owning a car is costly due to parking fees, insurance, and traffic congestion. However, Manhattan offers endless options, but they come at a premium. From trendy restaurants to Broadway shows, be prepared to spend more on leisure activities.
19. Cleveland, Ohio
- Cost of Living ( Family of Four without Rent): $4,197.4
- Median Home Price: $122k
- Population as of 2023: 354,043
- Average Rent: $1,338
Cleveland, Ohio, offers a significantly lower cost of living compared to both the national average and many other major cities in the US. Cleveland's overall cost of living is about 6% lower than the national average.
Housing costs are a major factor in any cost-of-living comparison, and Cleveland shines here. The median home price in Cleveland is about $15% lower than the national average, and rent is also considerably cheaper. When compared to major cities like San Francisco, New York, or Los Angeles, Cleveland offers a much more affordable lifestyle.
20. Fresno, California
- Cost of Living ( Family of Four without Rent): $2865
- Median Home Price: $360K
- Population: 542,107
- Average Rent: $1,556
The cost of living in Fresno, California is about 7% higher than the national average. However, it is considerably cheaper than many major California cities like Los Angeles, San Francisco, and San Diego. For example, housing costs in Fresno are about 5% higher than the national average, while in San Francisco they're over 200% higher.
Housing is the biggest expense, with the median home price around $453,000 and average rent at $1,556. This is lower than the national average and significantly lower than other CA cities. However, Fresno offers a relatively affordable cost of living compared to most other major cities in California and the US.