5 Most Expensive Places To Live In The US

Finding the best place to call home will require the right amount of effort and research. Of course, your final choice will largely depend on your budget. You may want to live in a mansion but only have the income for residing in the single-family home. The area in which you reside will play a significant role in the overall cost of living. This makes it a great idea to know some of the most expensive and least costly areas to consider if you’re in the market for a new place.

Most Expensive

Knowing where some of the costliest areas to live in is helpful. If you make a significant income, then you can possibly afford some of the most elite places to call home. 

New York City, New York

This city leads the list of the most expensive areas to live. In fact, there are an estimated 8.3 million people in this area, and the average cost for a home is $501,000. Studies indicate the cost of living in this city is 120% above the national average.

San Francisco, California

When it comes to glorious views and eclectic neighborhoods, you may want to choose San Francisco as your address. However, there is certainly a steep price to be paid for doing so.

Homes inside the city are said to average $820,000, making this one of the priciest areas for your residence. It’s thought it takes at least an annual salary of $119,000 to live well in this area.

The good news is the unemployment rate is as low as 2.6%, and this is welcome news to all of the residents.

Honolulu, Hawaii

Of course, when it comes to good weather and spectacular views, there is nothing better than Honolulu, Hawaii. You can expect to pay 55% more than the national average for groceries alone in this city. The average income is only $58, 397, but the unemployment rate is at a record low of 2.8% for this region.

Boston, Massachusetts

If your budget is high, you may want to call Boston home. This is one of the most influential areas in the U.S. You should be ready to pay around $374,000 for a home in this area. This is quite high considering the median income is only $53,163.

Washington, D.C.

If you have the expertise to do a government job, this may be the area you will want to choose. You will need to earn approximately $83,000 to live well. Homes sell at an average price of $443,000, and there are plenty to choose from if you have the budget for it.

Least Expensive

On the other hand, if your money is tight, you will want to know some of the cheaper places to place your hat. This is the key to stressing less and being able to get the most out of your money.

Harlingen, Texas

You may have heard the saying “Everything is bigger in Texas!” However, if you live in Harlingen, the cost isn’t.

This is one of the least expensive areas in the U.S. to reside with the average cost of a home at $229,558. Groceries are much cheaper here as well; you can usually get an entire pound of ground beef for only $2.35.

Memphis, Tennessee

If you’re looking for a low-cost area to live in, Tennessee may be the state for you. Studies show you can purchase a home for around $180,375 and rent is only about $726 per month in many areas. Memphis is one of the best options if your budget is low. 

McAllen, Texas

Another city in Texas that will be affordable to live in is McAllen. The average cost of a home is only $178,000, and the cost of living is 16.2% less than the national average. If renting is your plan, you can get a two-bedroom apartment for as little as $706 per month.

Ardmore, Oklahoma

This is one of the smaller areas that only has a population of 35,000. However, the cost of owning a home averages at $235,000, and you can rent a two-bedroom apartment for just $550 per month.

Ashland, Ohio

Finding a home in Ohio may be high on your agenda when you learn the median home price is $217,000 and you can rent a two-bedroom apartment for only $523.

The cost of living in Ashland is 14% less than the national average, and this makes it a top choice for thousands of Americans who are on budgets.

Regardless if you make a high living or a decent one, you will want to find a place to live that is within your means. The good news is there are numerous cities that will accommodate your needs on any budget and provide you with a welcoming place to live!