After paying your rent or mortgage, transportation, utilities, and any other bills, how much do you have left at the end of the month? The answer probably depends largely on where you live.
FindTheBest created a cost of living index based on 2013 family budget estimates for housing, taxes, healthcare, childcare, transportation, and "other necessities" (like food) from the Economic Policy Institute to compare, in over 600 counties and metro areas across the US, where your dollar goes the farthest.
The average overall index for US cities and metro areas is 100, so a city with an index of 120 is 20% more expensive than average, and a city with an index of 80 is 20% cheaper than average.
15. San Francisco, California, metro area
San Francisco metro area index: 138
State index: 116
Housing is where they get you in San Francisco, especially for millennials. As of June 2014, the median cost of renting a one-bedroom apartment in San Francisco was $3,120. Luckily the minimum wage in the Bay Area — $11.05 an hour — helps make up for the cost, and residents voted to raise the minimum to $15 an hour by 2018.
14. Lowell, Massachusetts, metro area
Lowell metro area index: 139
State index: 135
The fourth-largest city in Massachusetts, Lowell has incredibly high taxes. This year residential taxes jumped 6.3%, the largest year-to-year property tax increase since 2007. A large college town, Lowell has a history of being home to the biggest industrial complex in the United States.
13. Brockton, Massachusetts, metro area
Brockton metro area index: 140
State index: 135
Living in Brockton, Massachusetts, is actually only 5% more expensive than the state average, but "Shoe City" still manages to place on the list. Brockton has been named one of the best communities for young people three times by America's Promise Alliance, and cost of public transportation is still relatively low.
12. Santa Cruz-Watsonville, California, metro area
Santa Cruz-Watsonville metro area index: 140
State index: 116
Healthcare in the Santa Cruz-Watsonville metro area is very affordable, but housing is not. The average rent for a one-bedroom apartment or condo in Santa Cruz is $1,306 a month, according to a report by UC – Santa Cruz, which is high relative to the median household income of $66,519.
11. Danbury, Connecticut, metro area
Danbury metro area index: 140
State index: 127
Danbury is the second-most expensive place to live in Connecticut. Both the income tax and sales tax in Danbury are higher than average in the US, but the unemployment rate is lower than average and both median household income and median family income are higher than average.
10. Easton-Raynham, Massachusetts, metro area
Easton-Raynham metro area index: 142
State index: 135
The least expensive part of living in the Easton-Raynham area is the cost of transportation. This past June, the Massachusetts Department of Transportation Board of Directors also announced a plan for a new commuter line to run through Easton, Raynham, and Stoughton that, over the next 10 years, could generate $500 million annually in new economic activity.
9. Orange County, California, metro area
Orange County metro area index: 143
State index: 116
Orange County, like the old TV show "The O.C.," is the most expensive place to live in California. Housing and taxes are very high. Some of the wealthiest towns in Orange County include Newport Beach and Corona del Mar, as well as Laguna Beach (also like the TV show).
8. New York, New York, metro area
New York metro area index: 144
State index: 120
The cost of living in New York City is always the butt of jokes — for a reason. Brooklyn is the least-affordable housing market in America and there are thousands of homes in New York City that are worth more than $5 million.
But it's not just the housing that's pricey: taxis are expensive, and now even the cost of public transportation is rising. The Metropolitan Transit Authority decided to raise the fare of a one-way subway ride from $2.50 to $2.75 beginning in March 2015.
7. Boston-Cambridge-Quincy, Massachusetts-New Hampshire, metro area
Boston-Cambridge-Quincy metro area index: 144
State index: 135 (MA), 123 (NH)
Taxes are what will really set you back in the Boston metro area. And when it comes to housing, Boston is the second-worst bargain when it comes to getting the most space for your money — $1 million won't even get you 2,100 square feet, whereas the same amount will buy you more than 10,000 square feet in cities like San Antonio, Houston, and New Orleans.
6. Washington-Arlington-Alexandria, DC-Virginia-Maryland, metro area
Washington-Arlington-Alexandria metro area index: 148
State index: 94 (VA), 96 (MD)
Despite being the hometown of the IRS, the DC metro area has some of the highest taxes in the country. The silver lining is that while DC is very expensive for some people, especially in Georgetown, it's also one of the most affordable places for low-income families to live.
5. Westchester County, New York, metro area
Westchester County metro area index: 149
State index: 120
Westchester is the county just north of New York City, and home to countless commuters. It's known for its great school districts, but also for sky-high taxes, especially property taxes. Transportation between Westchester and New York City can be very expensive, but transportation within Westchester County itself is cheaper.
4. Honolulu, Hawaii
Honolulu index: 149
State index: N/A
Honolulu is a hot vacation destination, but also isolated from the mainland, making food and other commodities expensive. On the plus side, at $59,605, Hawaii has the ninth-highest median income in the country.
3. Stamford-Norwalk, Connecticut, metro area
Stamford-Norwalk metro area index: 152
State index: 127
The Stamford-Norwalk metro area is the most expensive place to live in Connecticut. Almost 25% of households make $150,000 or more a year, and the downtown area is a hot spot for many hedge funds and financial institutions.
2. Nantucket-Dukes Counties, Massachusetts
Nantucket-Dukes index: 153
State index: 135
Nantucket, just south of Cape Cod, and Dukes County, home to Martha’s Vineyard, are popular summer home spots for wealthy individuals and families around the country. Real estate is very expensive, as are food, transportation, and other basics. A report by TripAdvisor rated Martha's Vineyard the most expensive vacation destination in America.
1. Nassau-Suffolk Counties, New York
Nassau-Suffolk index: 155
State index: 120
Nassau and Suffolk Counties, on Long Island, aren't the highest in the country in terms of housing, taxes, or healthcare, but they're up there in each category, and that's enough to make the area the most expensive place to live in America. Also a major New York City commuting hub, it's known for high property taxes and pricey real estate, especially in Nassau County. Suffolk is home to the Hamptons, a popular summer spot for the wealthy and the famous.
Time to get out of the city.
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