The most expensive cities involve high rent
Housing was the biggest expense for those living in the top 5 cities, forming 29.34% of the overall composite index of the cost of living.
An oft-quoted complaint, rent in New York City strains New Yorkers’ finances tremendously — with a one-bedroom apartment rental in Manhattan going for $3,100 a month — according to apartment-search site Naked Apartments.
Everyday living was also more expensive in the city. According to data company Numbeo, a meal at McDonald’s in New York costs $9 and a cappuccino demands $4.54. At the same time, median annual household income was around $75,400, according to Data USA.
On the West Coast, San Francisco’s housing situation has also become brutal for tenants in recent years.