25 Priciest Cities To Live In America
The recent increase in cost of living is taking a toll on many Americans. But if you live in or are considering relocating to one of these most expensive cities in the United States, your bank account might have an even harder time adjusting.
U.S. News & World Report gathered data from their personal internal resources, the U.S. Census Bureau, the FBI, and the U.S. Department of Labor to determine the most expensive cities in America.
So, if you’re in the market to move and are on a tight budget, you might want to avoid living in these cities.
Weighing the Indexes
U.S. News broke down the data into four indexes, weighing them according to a 2023 public survey. The survey asked participants which factor they considered most important when choosing where to live. The results were:
- Quality of life (36%)
- Value (23%)
- Desirability (22%)
- Job market (19%)
The results are about as blue as each state’s political makeup.
1: San Diego, California
It’s official: San Diego is the most expensive American city to live in. Mild, sunny weather draws in tourists, sparking some to contemplate moving there. But residents complain about San Diego’s high homeowner’s association fees, though many are willing to bite the bullet in the name of living downtown and along the city’s cliff-framed coastline.
San Diego’s Stats
Median Home Price: $889,225
Median Monthly Rent: $1,842
Average Annual Salary: $67,200
2: Los Angeles, California
The city where dreams come true may be the case for the rich. But starstruck tourists who flock to LA’s streets should think again before moving there. High prices and traffic jams await. But so do stunning beaches and hikes in nearby mountains.
Los Angeles’ Stats
Median Home Price: $807,498
Median Monthly Rent: $1,685
Average Annual Salary: $63,056
3: Honolulu, Hawaii
Honolulu scored excellent in U.S. News’ study for quality of life, following the common belief that it’s one of the happiest places in the U.S. But between green sea turtles and luaus, the island paints a troubling tale for Americans living paycheck to paycheck.
Honolulu’s Stats
Median Home Price: $581,658
Median Monthly Rent: $1,870
Average Annual Salary: $61,860
4: Miami, Florida
The Magic City has a knack for scraping its residents clean of their cash. Many Americans are happily willing to pay the price, though, given that Miami offers a robust nightlife scene, a welcoming atmosphere for people from different backgrounds and gender identities, and pristine beaches.
Miami’s Stats
Median Home Price: $490,162
Median Monthly Rent: $1,492
Average Annual Salary: $54,790
5: Santa Barbara, California
The “American Riviera” draws in tourists-turned-residents because it offers a large city’s diverse activities without the struggles of a massive population. Santa Barbara’s high cost of living comes with benefits like being home to over 300 wineries and having the Channel Islands National Park at their fingertips. Nevertheless, residents need to be wealthy to live comfortably there.
Santa Barbara’s Stats
Median Home Price: $464,954
Median Monthly Rent: $1,810
Average Annual Salary: $62,020
6: San Francisco, California
San Francisco is an idyllic city for many, with landmarks like the Golden Gate Bridge and the locally dubbed “Crookedest Street in the World.” But limited housing units have skyrocketed rental and home prices in the city. Higher grocery and gas prices than the national average also financially stress San Francisco residents.
San Francisco’s Stats
Median Home Price: $1,082,875
Median Monthly Rent: $2,155
Average Annual Salary: $86,590
7: Salinas, California
Salinas’ charming downtown area is enough to draw in people wanting to move there. Picturesque farms surround the city, and it has many local farmer’s markets. Unfortunately for people with their eyes set on Salinas, real estate is about twice the national median price. The silver lining is that Salinas’ transportation, food, and utilities are about in line with the national average.
Salinas’ Stats
Median Home Price: $986,702
Median Monthly Rent: $1,718
Average Annual Salary: $56,350
8: Santa Rosa, California
Santa Rosa is a winery haven and attracts many artists and people wanting a lower-pace lifestyle in a countryside setting. Unfortunately, the price of homes is outrageous in Santa Rosa, doing little to offset its relatively lower cost of food.
Santa Rosa’s Stats
Median Home Price: $828,156
Median Monthly Rent: $1,856
Average Annual Salary: $64,080
9: San Juan, Puerto Rico
San Juan doesn’t call an American state home, but U.S. News included it since it’s within U.S. jurisdiction. Military forts with sea views, historic neighborhoods, and tax breaks attract people looking to move there. However, energy bills are significantly higher than on the mainland, and the coastal neighborhoods where many want to move to are expensive, especially compared to the city’s low wages.
San Juan’s Stats
Median Home Price: Not provided
Median Monthly Rent: $551
Average Annual Salary: $31,650
10: Vallejo & Fairfield, California
Since Vallejo and Fairfield only sit 18 miles apart, U.S. News clumped them together. Despite job opportunities being present at the Travis Air Force Base and Jelly Belly Candy Co. factory in Fairfield, many people hop on a one-hour ferry from Vallejo to work in San Francisco. There, they may have the chance to earn higher wages, helping to offset their city’s painfully high cost of living.
Vallejo & Fairfield’s Stats
Median Home Price: $562,567
Median Monthly Rent: $1,802
Average Annual Salary: $64,270
11: New York City, New York
The City That Never Sleeps brims with districts to explore and activities to participate in for people of nearly every interest. But unfortunately for residents, the fast-paced lifestyle isn’t easy on their wallets. One-bedroom apartments often go for several thousand dollars per month, forcing many New Yorker wannabes to seek relatively more affordable housing in New Jersey or Connecticut.
New York City’s Stats
Median Home Price: $668,376
Median Monthly Rent: $1,574
Average Annual Salary: $74,108
12: Boston, Massachusetts
From world-class restaurants to cultural entertainment and some of the best healthcare in the nation, Boston is attractive for many. Although it managed to stay out of the top ten most expensive cities in the US, its median home price is more than New York City’s, while its average salary is just a tad higher.
Boston’s Stats
Median Home Price: $713,792
Median Monthly Rent: $1,659
Average Annual Salary: $76,850
13: Seattle, Washington
Seattle isn’t famous for sunny weather like San Diego. But its mountain and coastal scenery, coupled with hip coffee shops, craft breweries, and notoriously friendly locals, make it an attractive place to live. Sadly for Seattle natives and older generations, tech companies have attracted young professionals in droves, driving up the cost of living.
Seattle’s Stats
Median Home Price: $736,721
Median Monthly Rent: $1,701
Average Annual Salary: $76,170
14: San Jose, California
If you’re not familiar with San Jose, this will surely ring a bell: Silicon Valley. Tech companies have flooded the San Jose metro area, turning it into a place where wealthy workers can quickly arrive at the office. The expense of convenience aside, San Jose’s idyllic location at the foothills of the Santa Cruz Mountains and vineyards makes it an attractive city for people to want to live in.
San Jose’s Stats
Median Home Price: $1,455,741
Median Monthly Rent: $2,511
Average Annual Salary: $99,430
15: Sacramento, California
With so many California cities in U.S. News’ ranking, it makes sense that The Golden State’s capital makes the unwanted cut. Sunshine and economic development abound in Sacramento. The latter means that the cost-of-living ratio in Sacramento is better than in many other parts of California, relatively speaking, of course.
Sacramento’s Stats
Median Home Price: $625,014
Median Monthly Rent: $1,465
Average Annual Salary: $65,580
16: Denver, Colorado
Denver is ideal for residents who enjoy nature and city settings. But living at the base of the Rocky Mountains puts financial strain on many. Excessive population growth in recent years has caused housing prices to skyrocket, among other living expenses.
Denver’s Stats
Median Home Price: $642,437
Median Monthly Rent: $1,554
Average Annual Salary: $66,750
17: Stockton, California
Stockton isn’t on many tourists’ radars, but savvy home buyers-to-be often have their eye on it. Though it has a relatively low cost of living for California, it’s still expensive from a national perspective. Residents in Stockton are proud of their diversity, including being the first city in the U.S. to house a Sikh temple.
Stockton’s Stats
Median Home Price: $547,954
Median Monthly Rent: $1,387
Average Annual Salary: $55,020
18: Washington, DC
It seemed inevitable that Washington, DC, would make the U.S. News’ most expensive city ranking. Living there is a dream come true for many with a passion for politics. While the cost of living in Washington, DC ultimately depends on which of the four quadrants one lives, residents can expect to pay far more for a home there than in most other cities in the U.S.
Washington, DC’s Stats
Median Home Price: $535,038
Median Monthly Rent: $1,783
Average Annual Salary: $80,480
19: Modesto, California
Modesto has anything but modest living expenses, though they’ll feel that way compared to the cities covered thus far. The parents of actors Jeremy Renner and Timothy Olyphant knew how to choose a high-quality hometown, given Modesto’s vibrant downtown but quiet residential areas. Unfortunately for people wanting to move there, housing prices are well above the national average.
Modesto’s Stats
Median Home Price: $421,894
Median Monthly Rent: $1,251
Average Annual Salary: $53,906
20: Fresno, California
Fresno is famed for its pistachio, peach, and other fruit and vegetable farms, many of which are organic to cater to California’s health-conscious crowd. While residents struggle with a higher cost of living in Fresno than the national average, the city’s cost of living is below California’s state average.
Fresno’s Stats:
Median Home Price: $430,212
Median Monthly Rent: $1,098
Average Annual Salary: $53,860
21: Portland, Oregon
Portland embraces self-expression, making it an attractive city for people with an eclectic side to want to move to. Unfortunately, rent costs are increasing faster than the national average, making it a challenging new home city for people who aren’t rolling in the dough.
Portland’s Stats
Median Home Price: $601,399
Median Monthly Rent: $1,434
Average Annual Salary: $64,330
22: New Haven, Connecticut
Home to Yale University, it comes as little surprise that New Haven is one of the most expensive cities in America. But given its small-town charm and old architecture, it’s hard for people not to fall in love with it. Nevertheless, they’ll need to be willing and able to shell out a pretty penny for groceries, utilities, and more.
New Haven’s Stats
Median Home Price: $376,708
Median Monthly Rent: $1,223
Average Annual Salary: $62,030
23: Boulder, Colorado
Boulder joins Denver as the second most expensive city in Colorado. It’s easy for the scenic view of Boulder from Route 36 to turn tourists into interested homebuyers. The problem is that with such limited land around the city, there aren’t a lot of places for resident wannabes to claim. The result is inflated housing prices.
Boulder’s Stats
Median Home Price: $784,844
Median Monthly Rent: $1,694
Average Annual Salary: $73,360
24: Trenton, New Jersey
Trenton’s ideal location makes it easy for residents to travel to New York City, Philadelphia, and Atlantic City. Those wanting to hang out at home have the Delaware River a stone’s throw away and many museums to explore. But all that convenience can come at a cost, with expensive toll rides and property taxes. Nevertheless, the average median price of a single-family home is below the national average.
Trenton’s Stats
Median Home Price: $331,317
Median Monthly Rent: $1,361
Average Annual Salary: $71,600
25: Eugene, Oregon
Eugene straddles the ocean and the Cascade Mountains, attracting outdoor enthusiasts. Artists also long to call it home, given its array of performing arts centers. Although Eugene is the most affordable city on this list, a lack of availability makes it challenging for homebuyers to land a reasonable deal.
Eugene’s Stats
Median Home Price: $414,146
Median Monthly Rent: $1,093
Average Annual Salary: $53,020
Surf’s Not Up
According to the US Census Bureau, California had the lowest percentage of people moving into the state in 2021 (9.9%). It appears that to many, the Golden State’s agreeable weather isn’t enough for movers-to-be to justify draining their bank accounts.
Most Affordable City
The cheapest city to live in the U.S. is Hickory, North Carolina. Residents in Hickory average $44,470 per year and spend only 18.95% of their median household income on housing.
Runners Up
Youngstown, Ohio, is the second most affordable city in America. Huntington, West Virginia, and Ashland, Kentucky, tie for third place.
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34 Cities With Sky-High Rent Prices for 1 Bedroom Apartments
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