Living Costs in Different US Cities
The cost of living is one of the three factors that will tell you how hard it is to live in a particular city. The other two indicators are unemployment rates and average income. Together, these three indicators can give you very excellent general guidance on what to expect if you are plotting to go to a city. But, your income is a better indicator of how simple or hard a city is going to be for you.
One of the highest cost of living cities is Las Vegas. The recession has not been able to dent its unemployment rate to any major extent, and the city offers a excellent average annual income. But the cost of living here is very high, especially housing, as any Las Vegas Property Management expert will tell you. Few people plot to retire to Las Vegas, but, if there is some special circumstance that’s giving you the thought of moving to Las Vegas; make sure you are aware of the high cost of living. That helps negotiate salaries with employers, too.
Any list of high cost cities will always find New York at the top. Despite the city’s skyward expansion, real estate is still very expensive, and what they call a nice “duplex condo” in New York will not pass for a loft in cheaper Midwestern cities. The city has a cost of living index that is about 120 points above the national average, and though average income is about $3000 dollars above the national average, that doesn’t really mean much in practice when you start living in the city.
Los Angeles is another city that the recession has left lurching in the top position in the list of over expensive cities. Not that Los Angeles is as expensive as New York; but it has lost over 40,000 jobs in the last year alone, and that has affected the economy everywhere. Even though it is a gorgeous city, things are getting more hard, and there is small hope the situation is going to change anytime soon.
One of the worst hit cities is Providence, in Rhode Island. The city has an unemployment rate of 11.6%, which is, by far, one of the worst in the USA. Most employment opportunities are down, including construction, Providence’s largest employment sector. The city, once known as a manufacturing hub, is also losing out in that sector and thousands have lost their jobs and been given the pink slip.
Providence citizens, like their counterparts everywhere else in the country, have cut down on expenses, which has hit the retail sector hard. Though Providence has a median income of $54,064, which is $4000 more than the national average, cost of living at Providence is 122, which is more than 22 points above the country’s average. People are finding it hard to live here any longer, and just like everywhere else in the US, there’s a shift towards lower cost of living cities.
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