The Most Expensive Cities In The U.S.
Homeownership U.S. Cities

The Most Expensive Cities In The U.S.

By
January 10, 2024 at 2:22 PM PST
Homeownership U.S. Cities

The Most Expensive Cities In The U.S.

By
January 10, 2024 at 2:22 PM PST

Let’s face it, the cost of living in the United States is high, especially if you live in a major city. Whether you’re looking to relocate across the country or a few states over, it’s important to know which cities are expensive. Of course, you’ll need to think about your income, cost of living, rent, bills, extracurriculars and other factors when deciding to move somewhere.

Also, consider that states like New York and California are going to be more expensive than others. When considering a place to live, learning about homeownership is key. You need to look at your income to see whether owning or buying a home is affordable, and if it’s not, consider renting.

The median home price in the U.S. is $412,000, but in some states, pricing is either higher or lower. Other factors to look at when moving to a new city are entertainment options, crime rate, weather, activities and more. If you’re a person who prefers the beach, cities like Malibu, Miami or Key West are great options. If you’re a person who just prefers the city, New York City, Orlando, Dallas or Los Angeles may be places to consider.

Here are the six most expensive cities in the U.S.

Honolulu, Hawaii

A popular vacation destination and relaxing beach vibes, Honolulu is one of the most expensive cities in the U.S. Pictured: An aerial view of Honolulu, Hawaii

While Honolulu may be seen as a tourist destination, it’s also a place where a lot of people reside. As one of the most expensive cities in the U.S., homeownership in Honolulu comes with a price. The average home price in this city is around $730,000 and this is typically on the lower end meaning prices tend to be higher.

  • Population: 995,638
  • Public School Rating: A
  • Average Home Price: $730,000
  • Walkability: High

For Black Families: If you love the sand, surfing, water activities and lying by the beach all day, Hawaii is the perfect city for raising a family. There are so many outdoor activities, local restaurants and shops to explore and things to do. For black families considering moving to this area, Honolulu is slightly diverse. About two percent of Black residents make up Honolulu’s population while around 42 percent are Asian, 10 percent are native Hawaiian and 23 percent are two or more races. There are also plenty of family-friendly activities by the beach.

For Young Professionals: For the young person who loves the outdoors and the beach, Honolulu is the perfect expensive U.S. city to consider if you have enough income to live here. Because it’s so expensive to live here, the average rent in Honolulu is around $2112. This is a great city for those in the military, higher education and hospitality and tourism.

New York City, New York

The largest city in the United States, New York City is incredibly diverse and also one of the most expensive cities in the U.S. Pictured: An aerial view of Manhattan, NYC

There’s no better feeling than hearing street cars and people at all hours of the day. You can experience this in NYC aka the city that never sleeps. If you want to get food at 3 am or go bar hopping in different areas of Manhattan during any day of the week being in NYC allows you to do that. The world truly is your oyster here. While New York City is expensive, you’ll need to determine where in the city to stay depending on your salary and budget. It’s also a great city for young professionals and families. The average home price in NYC is around $729,936 while the average rent is around $2,136 for a one bedroom apartment.

  • Population: 8,335,897
  • Public School Rating: A
  • Average Home Price: $729,936
  • Walkability: High

For Black Families: For Black families, NYC is inarguably one of the most diverse cities to raise a family in. From a ton of Black-owned businesses practically around every corner to a large diverse population, NYC is known as the melting pot of the country. Around 23 percent of Black residents make up the city’s large population

For Young Professionals: For young professionals, NYC is truly one of the best places you could live. There are job opportunities in just about every sector along with so many incredible companies to work for. There is no shortage of nightlife and things to do in the city.

San Francisco, California

As one of the most expensive cities in the U.S., San Francisco is known for cable cars, architecture and the Golden Gate Bridge. Pictured: A street view of San Francisco, California.

Another one of the most expensive cities in the U.S. to live in is San Francisco. This California city is unique with great weather year-round and decent job opportunities. San Francisco is known for its steep hills, the Golden Gate Bridge, cable cars and innovative tech industry. Homeownership in this area also comes at a steep price. The average home value is around $1.3 million while the average rent price is $3,267.

  • Population: 808,437
  • Public School Rating: B
  • Average Home Price: $1.3 Million
  • Walkability: High

For Black Families: Out of San Francisco’s large population, around five percent of residents are Black, so the area is slightly diverse. Because it‘s such a large city, there are plenty of family fun activities such as the Golden Gate Park and Pier 39.

For Young Professionals: For young professionals passionate about entering tech, health care, finance, education, biotechnology, apparel and textiles and marketing, San Francisco is the perfect city to consider moving to. While it is expensive, the average annual salary is much higher than the national average, with many residents making over $86,590.

Los Angeles, California

Known for Palm trees, beautiful beaches and pop culture, Los Angeles is also one of the most expensive cities to live in the U.S. Pictured: A few of palm trees in L.A. with the city behind it.

A sunny oasis and the second largest city in the United States is Los Angeles. This California city is one of the most expensive cities in the U.S. When you think of LA, entertainment, celebrities and pop culture might come to mind, but this city is so much more than that. There are so many things to explore in LA. Take a hike to the Hollywood sign or go to Santa Monica beach for some sand and surf.

Explore the hundreds and thousands of restaurants, shops, museums and activities the city has to offer. Because you are within access to just about any and everything in LA, the price of rent and homeownership are higher. The average home price in LA is around $920,605 and the average rent comes in at around $2,719 per month. Of course location, square footage and amenities play a factor in pricing.

  • Population: 3,822,238
  • Public School Rating: B
  • Average Home Price: $920,605
  • Walkability: Moderate to High

For Black Families: Los Angeles is a great place for raising families. With nine percent of the population making up Black residents and families, the city has a rich culture and diversity. There’s an abundance of activities, both indoor and outdoor, for families to participate in.

For Young Professionals: Another city with a lot of opportunities in the job market, there are so many career paths to take when moving to LA. From the entertainment industry to the toy industry to hospitality and tourism to technology and trade and logistics, LA provides so much to take advantage of. With a healthy job market, the average annual salary is at $63,056, almost $5000 higher than the national average.

Washington D.C

Because it is the Nation's capital, Washington D.C. is one fo the most expensive U.S. cities to live in. Pictured: A view of Washington D.C.

Filled with rich history and culture, our nation’s capital is one of the best and most expensive cities in the U.S. to live in. Not only is Washington D.C. a city of opportunity for young professionals, families can also thrive while living in this area. There are tons of museums that give kids and adults the opportunity to learn about the history in the United States. Restaurants, shopping, and activities are in abundance in this area too. For families considering a place to make their home, the average home price in this city is around $609,175. The average rent comes in at around $2422 for singles, friends and couples who want to live in this historic and vibrant city.

  • Population: 678,972
  • Public School Rating: A
  • Average Home Price: 609,175
  • Walkability: High

For Black Families: For Black families looking to uproot your family to a new area, consider Washington D.C to call home. While the cost of living can be expensive, there are so many fun and free activities for you and the kids to join in on. Washington D.C. is also pretty diverse, with 45 percent of Black residents living in the area, just one percent less than the amount of white residents.

For Young Professionals: While it may seem obvious to move to Washington D.C. if you’re considering a career in politics, there are also many other job industries that are taking over this city. For young professionals interested in working in finance, law, sports, education and real estate, Washington D.C just might be the perfect place to call home. While the cost of living tends to be higher, the unemployment rate in this area is fairly low.

Miami, Florida

As a Spring Break and vacation destination, it's no wonder that Miami is a great place to live, especially for young professionals. It's also one of the most expensive cities in the U.S. to live in because of proximity to beaches, nightlife and activities. Pictured: An aerial view of Miami Beach.

If you’re looking to live in a city of nightlife and beaches, Miami is the perfect place to call home. While the cost of living here is higher than the national average, it definitely makes up for it by being surrounded by beautiful beaches, restaurants, activities and events and cool nightlife. The average home price in Miami is $699,000, which is slightly lower compared to other expensive U.S. cities. The average rent in Miami is $2,451, with pricing still being high, but not as high as some other U.S. cities. The architecture, music and cuisine in Miami is like no other and while it’s deemed a major vacation spot, it also makes the perfect place to live.

  • Population: 449,514
  • Public School Rating: A
  • Average Home Price: $699,000
  • Walkability: High

For Black Families: For Black families considering moving to this Florida city, it is important to note that that city is known for its nightlife. With that being said, there will likely be a lot of young people at events in the city, at the beach or in general just around the city. But, there are plenty of activities and events for families including water parks, the children’s museum, ziplining and more. Another city known for its diversity, around 14 percent of Black residents and families live in Miami.

For Young Professionals: If you’re a young professional looking to live by the beach with warm weather, Miami is a southern city that you should consider. Not only is it known for its nightlife and activities, but the job market in this area is stable. If you’re interested in working in entertainment, hospitality and tourism, finance, real estate, healthcare and international trade, consider moving to this vibrant and fun Florida city.



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