It’s always a dream for most of us to have our own house where we can stay stress-free with our loved ones. Are you planning to buy a house in the United States? Here’s all you should know about the most expensive cities in the country.
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San Francisco, California
If you are looking for the most expensive cities in the U.S., San Francisco is one of our list’s top ones. The out-of-reach housing prices and high living costs make people think of leaving this city and shifting to another every day. The prices of median homes are around $1.4 million in San Francisco city. The major industries of this area are I.T., tourism, and financial services. If a family of 4 people wants to make ends meet, they need to have a household income of around $103,200. A good thing about San Francisco is that the rate of unemployment is very low (approximately 1.8 percent).
New York City, New York
It is the topmost on the list of the most expensive cities to stay in in the U.S. If someone wishes to live in Manhattan, the cost of living has increased by around 154 percent more than the national price. People who want to live in median homes need to pay about $652,700. The national median in the U.S. is around $245,000. The home prices in Manhattan easily lie above $1 million.
The cost of public transport and groceries is also high in New York. If you plan to stay here, you should be ready to break the bank because it’ll cost most of your pennies to find a home here.
Boston, Massachusetts
Health care and groceries cost a lot of their bank balance in Boston (Massachusetts). This number exceeds the national average of 14 percent for food and 22 percent for healthcare. Boston provides its citizens with a fantastic tech scene that stands with Silicon Valley, higher education facilities, and historical sites to visit, making Boston one of the best tourist spots in the U.S. The unemployment rate in Boston, Massachusetts, is 2.1% in Boston and the nearby areas (according to the survey of December 2019). Still, the residents of this city have to spend a lot of money for the sake of staying. $632,000 is the median home value in Boston, while its citizens’ household income is around $65,900. If a family consists of four members, they would need $84,905 in income to run the household well.
Oakland, California
It is situated on the opposing end of the Bay Bridge. Such a location makes it a cheaper place to stay in comparison to San Francisco. However, the city of Oakland, also situated in California, is a very expensive place to stay in the U.S. and costs more than many other cities you can choose to live in. $765,400 is the median home price in Oakland, and the money one would need to pay rent is around $3000 per month. The national average rent is $1600, and that of Oakland is just double that. We can already imagine how expensive this city must be!
Miami, Florida
Miami is a south USA city that ranks among our top expensive cities in the United States. This wonderful city has a high population of wealthy and bank-breaking foreigners willing to stay here even if they need to pay more. Apart from tourism, there is the busiest cruise ship port globally and numerous international financial institutions in Miami that give this city a high price tag. If you want a median house in Miami, your income should be around 53,300 dollars. While the national average unemployment rate is more than that of Miami (1.8 percent), a family of four members would require a per-month income of $70,800 to make both ends meet. Miami is a stylish city that has newly constructed commercial and residential buildings.
In this article, we saw the most expensive cities to live in in the United States. Apart from these, there are many cities worldwide where people find it hard to make ends meet with their families.
