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Economics

40 U.S. Cities With The Highest Cost Of Living

TristaDecember 10, 2021
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7. Stinson Beach, California

Stinson Beach is a favorite for some high-earning Silicon Valley leaders (via NPS). People who live in this idyllic enclave shell out an average of $356,279 per year to cover their personal living expenses; that amount comes out to nearly $30,000 per month. Homes in Stinson Beach have an average value that is just shy of $4 million, meaning that to own a piece of paradise in this exclusive area, you can expect to put down a 20% payment of $785,230 (via Go Banking Rates).

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6. Wainscott, New York

Wainscott is a census-designated place on Long Island that is steeped in history. The Wainscott School was the last one-room schoolhouse to operate in the United States (via Wikipedia). It lasted from 1730 until 2008, when an annex was built, and the school was no longer one room. Owning a part of this dramatic piece of American history comes at a steep price, with the average home value a whopping $2.56 million in January 2021 (via Go Banking Rates). Residents of Wainscott pay an average of $384,394 in annual living expenses, making this small CDP on Long Island one of the most expensive places to live in the entire country.

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5. Portola Valley, California

Portola Valley might be considered the spoiled little sister of Palo Alto. Palo Alto has served as the incubator of many tech geniuses and the companies they have built, and it has one of the highest costs of living in the country (via Best Places). Portola Valley has an even higher cost of living despite not having the accomplishments of Palo Alto. In this small census-designated place, the average value is $4.1 million, and residents pay an average of $393,471 to cover their annual living expenses (via Go Banking Rates).

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4. Hillsborough, California

Hillsborough is another super high-end small town in Silicon Valley full of mega-mansions for wealthy tech executives who have shaped so much of the world in which we live. It also has many historical landmarks, making it a great place to visit for those who are visiting San Francisco. People who live in Hillsborough pay an average of $410,112 to cover their annual living expenses, an amount that comes out to $34,176 per month (via Go Banking Rates). The average value of a home in Hillsborough is nearly $4.6 million, making a decent down payment about a million dollars (via Zillow).

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3. Los Altos Hills, California

There’s Los Altos, and then there’s Los Altos Hills, and the “Hills” ending should indicate that this small town is an even more affluent area than Los Altos (via Wikipedia). The city has expansive lots that house mega-mansions and all the toys that billionaires desire. People who live in Los Altos Hills pay an average of $421,017 each year to cover their living expenses, meaning that they are shelling out $35,085 every single month (via Go Banking Rates). The average value of a home in Los Altos Hills, as of January 2021, came out to nearly $4.7 million.

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2. Jupiter Island, Florida

Jupiter Island has the largest per-capita income of any other place in the entire country. This island off the coast of Florida is home to some of the country’s largest, and most expensive homes, worth an average of $5.24 million as of January 2021 (via Go Banking Rates). Residents of Jupiter Island pay an average of $477,750 per year to cover their own living expenses, meaning that they are forking out nearly $40,000 every single month.

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1. Atherton, California

The most affluent, most exclusive, and most expensive place to live in the entire country has long been the small town of Atherton, California (via Wikipedia). Annual expenditures for someone who lives in Atherton are a whopping $575,834 per person per year, and the average value of a home is nearly $6.6 million (via Go Banking Rates). No other place on this list comes close to the cost of living in Atherton. To afford to live in this palatial residential area, you have to be an executive-level earner at a Silicon Valley company. How much does that person need to make? Bet on an income that would allow you to spend nearly $50,000 per month.

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