In this article, we will take a look at the 5 most expensive cities to live in the US in 2024. If you would like to read our discussion on the US economy, you can go to the 30 Most Expensive Cities to Live in the US in 2024.
5. San Jose, CA
Cost of Living Index: 88.2
San Jose is at the fifth position on the list of the most expensive cities to live in the US in 2024. The overall living cost in San Jose is 27% higher than the state average and 75% higher than the national average. Housing costs, in particular, are exceptionally high in the city. They are 65% higher than the state average and an alarming 226% higher than the national average.
4. Boston, MA
Cost of Living Index: 89.2
As the cultural and financial hub of the New England region, Boston holds significant importance. The overall cost of living in Boston is 47% higher than the national average. Housing costs are 121% higher than the national average, followed by utilities, which are 33% higher than the national average.
3. San Francisco, CA
Cost of Living Index: 91.8
San Francisco is known as a leading hub for finance and technology. The overall cost of living in San Francisco is 24% higher than the state average and 71% higher than the national average. Among these expenses, housing costs stand out as the highest, being 47% over the state average and 190% higher than the national average. Other than this, utilities are also 35% higher than the national average.
2. Honolulu, HI
Cost of Living Index: 91.9
Honolulu is at the second position on our list of the most expensive cities to live in the US in 2024. The city’s isolated setting and scarcity of available land contribute to the high cost of housing. With almost all goods being imported and shipped at premium rates, expenses for everyday necessities such as utilities, groceries, and transportation are inflated in the city. The overall cost of living in Honolulu is 84% higher than the national average, while housing costs exceed the national average by 202%.
1. New York, NY
Cost of Living Index: 100.0
New York ranks first among the most expensive US cities. The cost of living in New York is 27% higher than the national average. In addition, the housing costs in the city are 80% higher than the national average. Furthermore, transportation, food, utilities, and services costs in New York are all higher than the national average.
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