Cost of Living Skyrockets in America's Most Expensive Cities

The 30 most expensive US cities to live in 2024 are ranked by cost of living index, with New York City as the baseline at 100%. Prices have risen significantly since 2020.

Housing costs are a major driver of high expenses, far surpassing national averages in cities like Los Angeles (137% higher) and Washington DC (140% higher).

Inflation and interest rates, though improved since 2022 peaks, remain high enough to impact major companies like Tesla. Wage growth lags behind inflation still.

The top 5 most expensive US cities in 2024 are Seattle, San Diego, Washington DC, Los Angeles, and San Francisco, in ascending order. Their cost of living indices range from 87.2 to 90.3.

Factors like high demand, limited housing supply, and steep healthcare costs contribute to the high cost of living in these cities. Prices for food, utilities, and other expenses also exceed national averages.