Living in a big city can be exciting, but also expensive. Depending on where you choose to settle down, you might have to pay a lot more for housing, transportation, food, and other necessities than the average American. But what are the most expensive cities to live in the U.S. in 2024?
To answer this question, we looked at the latest data from the Council for Community and Economic Research (C2ER), which publishes an annual cost of living index that compares the prices of various goods and services across 265 urban areas in the country. The index is based on six categories: housing, groceries, utilities, transportation, health care, and miscellaneous goods and services. The national average for each category is set at 100, and the higher the score, the more expensive the city is.
Based on this data, here are the 10 most expensive cities to live in the U.S. in 2024, along with some of their characteristics and challenges.
Boston, MA
Cost of living index: 157.6
Boston is one of the oldest and most historic cities in the U.S., as well as a hub for education, health care, and innovation. It is home to some of the most prestigious universities in the world, such as Harvard, MIT, and Boston University, as well as many renowned hospitals and research centers. The city also boasts a rich cultural and artistic scene, with museums, theaters, and sports venues.
However, living in Boston comes at a high price, especially when it comes to housing. The median home value in Boston is $713,000, according to Zillow, and the average rent for a two-bedroom apartment is $3,100, according to Apartment List. The city also has a high cost of transportation, as public transit fares, parking fees, and gas prices are above the national average.
Seattle, WA
Cost of living index: 159.8
Seattle is the largest city in the Pacific Northwest and a major center for technology, commerce, and culture. It is home to some of the world’s most influential companies, such as Amazon, Microsoft, Starbucks, and Boeing, as well as many startups and entrepreneurs. The city also offers a vibrant and diverse lifestyle, with scenic views, outdoor activities, and a thriving music and arts scene.
However, Seattle is also one of the most expensive cities to live in the U.S., mainly due to its soaring housing market. The median home value in Seattle is $863,000, according to Zillow, and the average rent for a two-bedroom apartment is $2,300, according to Apartment List. The city also has a high cost of utilities, as electricity and water rates are higher than the national average.
San Jose, CA
Cost of living index: 161.1
San Jose is the heart of Silicon Valley, the world’s leading hub for innovation and technology. It is home to some of the most prominent tech companies, such as Apple, Google, Facebook, and Netflix, as well as many universities and research institutions. The city also has a diverse and multicultural population, with a large Hispanic, Asian, and Indian community.
However, San Jose is also one of the most expensive cities to live in the U.S., mainly due to its astronomical housing costs. The median home value in San Jose is $1.2 million, according to Zillow, and the average rent for a two-bedroom apartment is $3,000, according to Apartment List. The city also has a high cost of groceries, as food prices are higher than the national average.
Washington, D.C.
Cost of living index: 162.4
Washington, D.C. is the capital of the U.S. and the seat of the federal government. It is home to some of the most iconic landmarks and monuments in the country, such as the White House, the Capitol, and the Lincoln Memorial, as well as many museums and cultural institutions. The city also has a diverse and educated population, with a large African American, Hispanic, and immigrant community.
However, Washington, D.C. is also one of the most expensive cities to live in the U.S., mainly due to its high housing costs. The median home value in Washington, D.C. is $693,000, according to Zillow, and the average rent for a two-bedroom apartment is $2,600, according to Apartment List. The city also has a high cost of transportation, as public transit fares, parking fees, and tolls are higher than the national average.
Oakland, CA
Cost of living index: 163.1
Oakland is the largest city in the East Bay region of the San Francisco Bay Area and a major port and industrial center. It is home to some of the most diverse and progressive communities in the country, with a large African American, Hispanic, Asian, and LGBTQ population. The city also has a vibrant and creative culture, with a strong music, arts, and sports scene.
However, Oakland is also one of the most expensive cities to live in the U.S., mainly due to its high housing costs. The median home value in Oakland is $877,000, according to Zillow, and the average rent for a two-bedroom apartment is $2,800, according to Apartment List. The city also has a high cost of utilities, as electricity and water rates are higher than the national average.
New York, NY
Cost of living index: 164.8
New York is the most populous and most iconic city in the U.S., as well as a global center for finance, media, entertainment, and culture. It is home to some of the most famous landmarks and attractions in the world, such as the Statue of Liberty, the Empire State Building, and Times Square, as well as many museums, theaters, and parks. The city also has a diverse and dynamic population, with people from all over the world and from all walks of life.
However, New York is also one of the most expensive cities to live in the U.S., mainly due to its high housing costs. The median home value in New York is $711,000, according to Zillow, and the average rent for a two-bedroom apartment is $3,200, according to Apartment List. The city also has a high cost of transportation, as public transit fares, taxi fares, and tolls are higher than the national average.
Honolulu, HI
Cost of living index: 170.5
Honolulu is the capital and largest city of Hawaii, the only U.S. state located in the Pacific Ocean. It is home to some of the most beautiful and exotic natural scenery in the world, such as the Diamond Head, the Waikiki Beach, and Pearl Harbor, as well as many historical and cultural sites. The city also has a diverse and multicultural population, with a large Native Hawaiian, Asian, and Pacific Islander community.
However, Honolulu is also one of the most expensive cities to live in the U.S., mainly due to its high cost of living. The median home value in Honolulu is $827,000, according to Zillow, and the average rent for a two-bedroom apartment is $2,500, according to Apartment List. The city also has a high cost of groceries, as food prices are higher than the national average due to the island’s isolation and dependence on imports.
San Francisco, CA
Cost of living index: 191.1
San Francisco is the cultural and financial center of the San Francisco Bay Area and a major tourist destination. It is home to some of the most iconic landmarks and attractions in the country, such as the Golden Gate Bridge, Alcatraz Island, and Chinatown, as well as many museums, galleries, and festivals. The city also has a diverse and liberal population, with a large Asian, Hispanic, and LGBTQ community.
However, San Francisco is also one of the most expensive cities to live in the U.S., mainly due to its sky-high housing costs. The median home value in San Francisco is $1.5 million, according to Zillow, and the average rent for a two-bedroom apartment is $4,000, according to Apartment List. The city also has a high cost of transportation, as public transit fares, parking fees, and gas prices are higher than the national average.
Manhattan, NY
Cost of living index: 214.8
Manhattan is the most densely populated and most affluent borough of New York City, as well as the economic and cultural heart of the city. It is home to some of the most prestigious and influential institutions and organizations in the world, such as Wall Street, the United Nations, and Broadway, as well as many museums, parks, and skyscrapers. The borough also has a diverse and cosmopolitan population, with people from all over the world and all social classes.
However, Manhattan is also one of the most expensive cities to live in the U.S., mainly due to its astronomical housing costs. The median home value in Manhattan is $1.2 million, according to Zillow, and the average rent for a two-bedroom apartment is $4,500, according to Apartment List. The borough also has a high cost of living, as everything from groceries to entertainment to health care is more expensive than the national average.
Brooklyn, NY
Cost of living index: 216.7
Brooklyn is the most populous and most diverse borough of New York City, as well as a cultural and creative hub. It is home to some of the most vibrant and eclectic neighborhoods and communities in the country, such as Williamsburg, Park Slope, and Coney Island, as well as many landmarks, festivals, and events. The borough also has a rich and varied history, with roots in various ethnic and immigrant groups.
However, Brooklyn is also the most expensive city to live in the U.S., mainly due to its skyrocketing housing costs. The median home value in Brooklyn is $1.1 million, according to Zillow, and the average rent for a two-bedroom apartment is $3,500, according to Apartment List. The borough also has a high cost of living, as everything from groceries to utilities to health care is more expensive than the national average.
