What are some most expensive cities in the U.S.? Though we all look for that one “perfect place” that offers everything including economy and atmosphere, a dream place often comes with a hefty price. Low wages, unaffordable housing, inflation, and taxes are some of the most common reasons that make many U.S. states an expensive living choice. The top rated cross country movers with Pricing Van Lines generalize that the west coast and the northeast coast of the country are more expensive than others.
If we check the Expensive State Index based on average home value, amount of property taxes (average state and local tax rate), and annual income, the following is the list of the most expensive U.S. states. So before you decide on a move, consult the list given below:
The top 10 most expensive cities in the U.S.
The fact that almost all grocery items are shipped from somewhere else to Alaska says all about it being an expensive place. The cost of energy is very high that too when winters are very cold here. The average electric bill in Alaska is $169.50 monthly which is thrice the amount that you will have to pay in Arkansas. Juneau is the most expensive city in Alaska.
2. Rhode Island
Rhode Island is the smallest state (area-wise) of the U.S. and most of its population is Italian-American. With costlier grocery rates than average rates of the country, Rhode Island lists itself among the most expensive states of the country. Providence is the most expensive city in the state and the average home price of the state is $451,509.
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With finance, insurance, and real estate as the major industries Connecticut is one safe and peaceful place to live. If we talk about the most expensive states of the U.S., Connecticut comes at number 10 because the state provides a high average salary with a relatively low cost of living. Alcohol prices in Connecticut are very high as alcohol is a valued commodity there. With an average home price of $662,445, Greenwich, Darien, and Stamford are the costliest cities of Connecticut.
Hawaii, known for home-grown coffee, is one of the most expensive states in the U.S. The common grocery things like eggs and coffee are also very costly in Hawaii. Aloha is one word that all Hawaiians use often which means both hello and good-bye in Hawaii. The most expensive place in Hawaii is Honolulu and the average home price is $1,158,500. The cost of living can be guessed from grocery rates as half a gallon of milk in Hawaii costs about $4.18.
5. New York
Housing prices are the highest in the densest cities of New York, Manhattan. The cost of a condo in Manhattan is almost ten times the cost of a four-bedroom house in another state like Missouri. Manhattan is the most expensive city in New York and the average home price there is $1,901,000. Half a gallon of milk in New York is for $2.56 that exposes the inflation conditions in New York.
Known as the Bay State, Massachusetts is a very expensive as well as most liveable place in America. Boston, the capital city of Massachusetts is the most expensive in the state. Housing prices in Boston are very high and are among the highest rates in the country. A two-bedroom apartment in Boston is almost four times costlier than in some cities of Arizona. Gas prices in Massachusetts are four times higher than prices in North Carolina. With average home prices of $663,940, Massachusetts is one of the most expensive places in the U.S.
Oregon is home to Bend, the third fastest-growing city in the U.S. With an average housing price of $355,000, Oregon also provides the best salaries in the country. Though Oregon enacted statewide rent control laws in 2019, it still is one of the most expensive places in the U.S. Half of the Oregonians live in Portland making it the most expensive city in the state.
California is known as the Golden State and the name justifies itself. Booming Silicon Valley and economic growth of the city and the short housing supply are some common features of this expensive state. San Francisco is the most expensive city in the state and with an average housing price of $ 1,243,240; California itself stands among the first five most expensive states of the U.S.. California is almost five times more expensive than Dublin, Georgia.
Maryland or the Old Line State as it is popularly called is one of the most expensive places in the U.S. Housing prices in Maryland are beyond imagination and are more than twice the average housing price of the country. Bethesda, Gaithersburg, and Frederick come under the most expensive cities of Maryland.
10. New Jersey
New Jersey is one of the most populated yet area-wise smallest states of the U.S. Avalon is the most expensive city of New Jersey. With an average home price of $346,365, New Jersey stands among the top most expensive states in the U.S. The expensive state index score of New Jersey is 78.14. You will have to pay almost 50% higher prices in New Jersey as compared to the country prices.
What Are the 3 Most Expensive Cities in the United States?
The American three cities where you can expect to fork out the most money to live include New York City’s Manhattan borough, Honolulu, and San Francisco, according to the Council for Community and Economic Research.The organization publishes quarterly updates to the cost of living in the most expensive cities.
Why Are Cities So Expensive?
There are various factors that affect the cost of living in cities, especially major metropolises. One of the most obvious reasons is the cost of housing, whether you choose to rent or buy your property. Other considerations include the cost of gas and transportation, taxes, child care, insurance, and utilities. Supply and demand are generally what drive up prices,
What Makes New York and California so Expensive?
There’s not just one reason why these two states are so expensive. Housing and taxes are generally two of the biggest factors that affect the cost of living in these areas. This spreads out to other areas of the economy, including child care, insurance, food and gas prices.