The cost of living in the average American city is $5,111.17 per month. That comes out to $61,334 per year.
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The Most Unaffordable Cities in America
To find the most financially challenging cities to live in America, GOBankingRates used rental data from ApartmentList, cost-of-living data from Sperling’s Best and average expenditure data from the Bureau of Labor Statistics. Any city with an AreaVibes livability score under 65 didn’t make the cut.
Although there are plenty of locations in the U.S. that qualify as great places to live, affordability is usually a key factor for most people.
The national average home value is $356,336 in the U.S., a figure that's expected to rise by 2.7% over the next year.
Florida's population has boomed over the past decade, with nearly 3 million people moving to the Sunshine State from 2010 to 2020.
Retirees have long flocked to Arizona for its affordable cost of living and mild winters.
