If you are contemplating moving to a populous metropolitan center, an item of concern that must be at the forefront of your mind is the cost of living. It is no secret that moving to a major American city is not cheap, and even the cities that are considered to be less costly are still more expensive than any other area in the country.
With that in mind, here is a list of the most expensive places to live in the U.S. right now:
Living on the San Francisco side of the Golden Gate bridge may bring some stunning views, but it also brings astronomical housing expenses that will inevitably break the bank — especially since the supply of single-family homes in the area is seriously lacking in comparison to the level of demand. In order to live comfortably in San Francisco, one needs to be making an excess of $120,000 per year, which is double the national average income.
Seeing as this area is associated with glitz, glamour, and celebrities, it should come as no surprise that housing in Los Angeles is highly sought after. Although the overall cost of living is high, it is important to note that costs are driven up depending on the ZIP code one moves into. For example, the renowned 90210 ZIP code boasts a median home value in excess of $4 million. The rest of Los Angeles’ home values, on the other hand, hover around $475,000. In order to live comfortably in Los Angeles, one should aim to earn at least $75,000.
Boasting a rich history and stunning homes that date back to the 13 colonies — as well as an educational environment and a booming tech industry — it is no surprise so many people are flocking to Boston in search of a new home. With an average home cost of $375,000 and a 3.6 percent unemployment rate, those who live in Boston must make approximately $84,000 per year in order to live comfortably.
Living in the nation’s capitol is synonymous with a high cost of living. However, there seems to be a greater number of available jobs in the District, thanks to the countless government agencies, think tanks, and other organizations that operate out of the area. And with the average home prices hovering around $445,000, it is imperative to have a well-paying job — preferably one that pays $85,000 per year — in order to live comfortably in Washington, D.C..