17 Cities With the Fastest Rising Cost of Living in the US

Calling a city home has always been incredibly expensive, but in certain places, the rising cost of living is making it extortionate! In this article, we collected information on 17 U.S. cities that are becoming increasingly expensive to live in and why this is the case.

New York City, NY

Photo Credit: marchello74/Shutterstock.

Perhaps not a surprise to many, but New York City has one of the fastest-rising costs of living in the United States, specifically in areas like Manhattan and Brooklyn. According to Salary.com, the cost of living in New York is 77% higher than the national average, having increased by 1.6% since last year. This is mainly due to housing, utilities, and daily expenses.

Honolulu, HI

Photo Credit: Izabela23/Shutterstock.

Honolulu, Hawaii, is a gorgeous, unique island and popular tourist destination—both of which impact local prices and contribute to higher living expenses. The city unfortunately suffers from expensive housing, transportation, and food costs, which only seem to be rising year after year.

San Francisco, CA

Photo Credit: BiniClick/Shutterstock.

San Francisco, a tech industry stronghold, has some of the highest housing costs in the United States, 202% higher than the national average, according to RentCafe. The city also faces significant expense increases in transportation and utilities, which are currently 36% and 33% higher than the average, respectively.

Los Angeles, CA

Photo Credit: Cameron Venti/Shutterstock.

Los Angeles, known for its entertainment industry and sunny beaches, faces high housing and transportation costs. The city’s cost of living index is 149.1, according to CNBC, which reflects its diverse economy and lifestyle. Los Angeles is home to many celebrities and Hollywood stars, which contributes to its rising costs in housing and entertainment.

Washington, D.C.

Photo Credit: Musa Visual Media LLC/Shutterstock.

The nation’s capital, Washington, D.C., has experienced a 1.3% increase in the cost of living this year, with high housing costs in and around the city. The presence of government and political institutions impacts the local economy, continuously driving up expenses in healthcare, education, and daily living.

Boston, MA

Photo Credit: Sean Pavone/Shutterstock.

Boston is a historical city that experiences significant rates of tourism and also has an impressive educational sector, making it a popular place to live and visit. Unfortunately, this means that the city faces increasingly high costs in the housing, transportation, healthcare, and education sectors.

Seattle, WA

Photo Credit: Jose Luis Stephens/Shutterstock.

Seattle, home to the Space Needle and tech giants Amazon and Microsoft, experiences high housing costs. The average home price is over $1 million, and the average rent is $3,300, according to Forbes. Despite the high (and increasing) cost of living, Seattle’s robust job market and beautiful natural scenery continue to attract residents.

San Diego, CA

Photo Credit: Dancestrokes/Shutterstock.

Another popular city in California, San Diego faces high housing costs and elevated, increasing real estate prices. As reported by 7 San Diego, “San Diego is a great place to live. That drives the pricing up because there’s more and more people choosing to settle here now.” The city also suffers from expensive utilities and transportation.

Portland, OR

Photo Credit: James Bentley Photography/Shutterstock.

Portland is facing rapidly rising housing costs, especially in its most popular neighborhoods. The increasing cost of living is said to be due to growth in high-paying industries, such as healthcare, technology, and finance. The city also faces elevated expenses in food, entertainment, and public services.

Oakland, CA

Photo Credit: Jacob Boomsma/Shutterstock.

Located in the Northern California Bay Area and part of the larger San Francisco metropolitan area, it’s not surprising that Oakland has a high and increasing cost of living. RentCafe reports that the Oakland, CA, housing market is 98% more expensive than the country’s average, and the general cost of living is 44% higher.

Denver, CO

Photo Credit: Andrew Zarivny/Shutterstock.

Denver, with a growing labor force and strong economy, has a cost of living index of 11% above the national average. The city has plenty of job opportunities in the technology, healthcare, and aerospace industries, attracting residents despite its higher-than-average housing and utility costs.

San Jose, CA

Photo Credit: Sundry Photography/Shutterstock.

In the heart of Silicon Valley, the city of San Jose has faced a significant increase in living costs. The high demand in the housing market has led to soaring real estate prices, and the cost of living is now significantly above the national average due to the tech industry boom.

Mesa, AZ

Photo Credit: Wangkun Jia/Shutterstock.

Mesa’s workforce has grown by 3.9% since 2022, and the cost of living index is 3% above the national average—likely to continue to increase. The city’s strong job market and affordable housing options make it a popular choice for new residents, despite the increasing costs.

Nashville, TN

Photo Credit: Kevin Ruck/Shutterstock.

The booming music and entertainment industry in Nashville has driven the city’s population growth. As a result, there have been rising housing costs due to increased demand and economic growth. Overall, the cost of living is growing faster than the national average.

Minneapolis, MN

Photo Credit: AMB-MD Photography/Shutterstock.

Minneapolis has seen a gradual increase in its cost of living. This is partly due to the steady increase in housing prices, both in the buying and renting markets. The city is experiencing a growing economy, and rising costs in healthcare, education, and utilities are contributing to the overall cost of living.

Miami, FL

Photo Credit: Mia2you/Shutterstock.

Miami, a much-loved beach destination and luxurious party hotspot, comes with a cost of living that is 20% higher than the national average. Housing in Miami is a particularly expensive sector, currently 50% above the national average. The city’s population continues to rise due to its attractive lifestyle, meaning costs are likely to follow suit.

Austin, TX

Photo Credit: Sean Pavone/Shutterstock.

Austin has experienced a rapid increase in living costs over the past few years, particularly in the housing sector. KVUE reports that the cost of living in Austin is 17.8% higher than it was a decade ago, with housing costs having increased by 20.7%.

READ MORE

Photo Credit: Prostock-studio/Shutterstock.

While it’s easy for younger generations to feel like they’re steeped in slang, Boomers know that some of the best phrases have been passed down for years. Think you’re hip to all of them? Read on for 18 popular phrases of Baby Boomer slang.

18 BABY BOOMER SLANG PHRASES THAT MAKE MILLENNIALS SCRATCH THEIR HEADS

20 THINGS OLD PEOPLE LOVE THAT THE REST OF US DON’T UNDERSTAND

Photo Credit: Shutterstock.

Different generations enjoy different things, but have you ever seen something an old person loves and thought to yourself, why? A recent internet survey asked, “What is something that old people love that you don’t understand?” Here are the top 20 answers.

20 THINGS OLD PEOPLE LOVE THAT THE REST OF US DON’T UNDERSTAND

20 THINGS WE DID WHEN WE WERE YOUNG THAT WE REGRET NOW

Photo Credit: Kues/Shutterstock.

It’s easy to say hindsight is 20/20, but what advice would you really give your younger self? Here are 20 things that most people did when they were young that they regret today.

20 THINGS WE DID WHEN WE WERE YOUNG THAT WE REGRET NOW

THINK 60’S OLD? THESE 17 AWESOME FACTS WILL CHANGE YOUR MIND

Photo Credit: Shutterstock.

When it comes to aging, there’s no need to fear the big 6-0! In fact, it’s a cause for celebration! In this post I highlight the 17 things that make being 60 absolutely amazing — from newfound wisdom to retirement adventures. Let’s embrace our 60s together!

THINK 60’S OLD? THESE 17 AWESOME FACTS WILL CHANGE YOUR MIND

23 THINGS PEOPLE THINK YOU STOP DOING IN YOUR 50S BUT YOU DON’T

Photo Credit: Krakenimages.com/Shutterstock.

As we enter midlife, there’s a common misconception that we have to “settle down” and “act our age.” However, we’re here to debunk this myth! So, check out this post as we list 23 things that people think you stop doing in your 50s but you don’t have to!

23 THINGS PEOPLE THINK YOU STOP DOING IN YOUR 50S BUT YOU DON’T