Cities with the highest living costs

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Cost of living varies widely across the U.S.’ largest cities, reports CNBC, quoting a new study by the Economic Policy Institute. In many cities in the Midwest and Southwest, a single person will spend between $33,000 to $38,000 on housing, food, transportation, health care, other basic necessities and taxes. However, if you want to live in New York City, you’ll be spending at least $50,000 per year on basic expenses. And if that’s breaking the bank, don’t move to San Francisco, where you’ll need to spend close to $70,000 on household expenses. The biggest expense across all 15 cities surveyed? Perhaps not surprisingly, it’s rent.


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