The Most Expensive Large Metros to Live In
Posted on July 20, 2016 by Nick Selbe
Anyone who’s moved from a small town to a big city quickly learns that you can’t stretch a dollar as far as you used to. When a 242-square-foot apartment costs $3,000 per month, it becomes pretty clear that cutting costs is a much more pressing need.
Despite the steep costs, some people feel at home in the hustle and bustle of the big city. CareerTrends — an employment and career research site powered by the Graphiq network — found the 10 most expensive large metros. The list is ranked by the monthly dollar amount required for a married couple with two children to meet a secure yet modest living standard, as defined by the Economic Policy Institute’s 2015 Family Budget Calculator.
The EPI provides estimated costs of childcare, food, healthcare, housing, taxes, transportation and other necessities across 618 locations. This list focuses on large metros with a population of at least 1 million people.
Unsurprisingly, large metros in California and New York are among the most expensive. The 10 most expensive large metros each have a monthly budget over $6,300. We’ll run down the list from No. 10, finishing with the most expensive metro of all, which has a monthly budget over $8,800.
#10. Milwaukee-Waukesha-West Allis, WI
Annual budget: $76,117
Population: 1.57 million
#9. Philadelphia, PA
Monthly budget: $6,366
Annual budget: $76,393
Population: 6.02 million
#8. Buffalo-Niagara Falls, NY
Annual budget: $77,843
Population: 1.14 million
#7. Rochester, NY
Monthly budget: $6,759
Annual budget: $81,106
Population: 1.08 million
#6. Hartford, CT
Annual budget: $81,623
Population: 1.22 million
#5. San Jose-Sunnyvale-Santa Clara, CA
Monthly budget: $7,038
Annual budget: $84,461
Population: 1.90 million
#4. Boston, MA
Annual budget: $85,793
Population: 4.65 million
#3. San Francisco, CA
Monthly budget: $7,649
Annual budget: $91,785
Population: 4.47 million
#2. New York, NY
Annual budget: $98,722
Population: 19.87 million
#1. Washington, DC
Monthly budget: $8,874
Annual budget: $106,493
Population: 5.76 million
