We all know that the cost of living has risen a great deal over the years. In fact, time and again, we have also presented for our readers lists of the most expensive cities across the globe. We bring you today the most expensive cities on the US shores in our pursuit to keep you updated on the expensive towns and locales. The list compiled by Forbes shows that some of the most popular American cities are also the most expensive.
Taking the top spot and coming as almost no surprise is New York City. The most expensive city to live on, on US soil, it is number eight on the list of the world’s most expensive cities. The average monthly rent for an apartment in the city is $2,800. What is more, tenants have to make 40 times the monthly apartment rent to qualify without a guarantor. So you’ll have to make around $112,000 to qualify for a regular apartment. And if you are a working parent, it gets even more costly with monthly daycare fees running over $2,000 a month while an average cup of coffee costs almost $.50!
The land of the celebrities, Los Angeles, takes the second spot. On the world ranking scale, it is the 23rd most expensive city to live on. Due to its high unemployment rate and rising housing rates, LA is considered by many to be the most overpriced destination by many. Gas prices are higher in L.A. than in any other city on the mainland!
The favorite holiday destination, Honolulu, Hawaii, takes the fifth spot on the list, while on the world ranking scale, this paradise has grabbed the 41st spot. Living in Honolulu costs 55% more than living in the average U.S. city with average monthly rental costs of $1,800. The sixth spot is grabbed by the cultural and entertainment hub Miami. Although housing prices in this city have dropped recently, the grocery and public services prices are sure to make a living in this city unaffordable to many.
Besides these, the other cities to get featured on the list include Aspen, which is now also known as the home of the rich, and the famous, Juneau, whose costs associated with housing, utilities, and health care are 40-100% higher than the national average.
So if you are short on cash and plan to move to a new US city, you had better go through this list before narrowing down on your new location.