The United States is the richest country in the world, but there is a huge disparity between its richest and its poorest, which is why it tops the list for overall wealth, but still struggles with homelessness, unemployment and severe poverty, the likes of which you usually don’t see in such grand first-world countries. But where is all of that money going—where are the richest cities in the US and where are the most expensive ones to live?
The seat of government is also one of the most expensive cities in the US. It’s big on tourism and this industry is part of the driving force behind rising property, grocery and entertainment prices. After all, those restaurants charge those premiums because they know tourists will pay them, but it means that the locals also end up footing the bill when they decide to enjoy a night on the town.
The biggest city in the country is also one of the most expensive. One of the things that makes Boston so expensive is healthcare, as you’ll pay between 1/5th and 1/4th more than you will in other major cities. The cost of living is also very high and there is a premium charged on groceries and on eating out.
Unlike other expensive cities in the country, the median household income isn’t quite enough to cover the cost of basic living and this city is a long way from allowing the average resident to live comfortably within their means.
This is one of the tourist capitals of the United States, so it only makes sense that it is also one of the richest and most expensive cities in the country. They also have to import a lot of the products you see in grocery stores, which is part of the reason you’ll pay nearly twice the national average for staples like eggs and milk. Utilities cost over 70% the national average as well and that’s before we even touch upon the cost of eating out.
It’s a beautiful part of the country, but you pay a premium to experience it every day.
New York City, New York
This is the financial capital of the United States, if not the world. New York is home to the world’s two biggest stock exchanges, some of the biggest companies in the country, and so much more. It seems like everything in the Big Apple is grand and rich. Personal injury in New York is a colossal business and one we’ve covered before; sport is even bigger, with several teams in the NFL alone; shopping is massive, with customers traveling from around the world. There’s just so much to see and do. It really is the embodiment of the American Dream and that’s why it is and likely always will be the richest city in the United States.
It’s also one of most expensive when you factor in things like the cost of food, but if we’re talking about property and several other things then one city tops it.
San Francisco, California
This is the richest city in the US and the one where you’ll pay more rent than anywhere else. In fact, a one-bedroom apartment here costs more than the same apartment in New York. At more than $3,500 it’s the most expensive rental price in the US and it even tops some of the world’s biggest and richest cities.
San Francisco is a grand and glorious place to live. It has so much to offer, with rolling hills, glorious sunshine and a bridge that is instantly recognizable. You might get what you pay for, but it all depends on your perspective and we’re sure many of you would prefer to be living in New York and paying a little less for the pleasure.