You know those perennial reports in which New York City is revealed as a horrid expensive garbage can in which we all shell out far too much money to live in the same ten-mile radius as Alec Baldwin? Well here are some statistics that are slightly less depressing! The Bureau of Labor Statistics came out with a ranking of the most expensive American cities to live in for housing, and for once, New York isn’t at the top of the list. In fact, it came in third.
The average annual expenditure on housing costs, including utilities, furnishings,operations, supplies, and the basic cost of shelter (aka rent or mortgage/property taxes/maintenance) came out to be the highest in Washington D.C. which, according to the study, requires residents to shell out an average of $28,416 per year on housing. That’s compared to a national average of $16,887, meaning that the average American spends thirty-three percent of their income in housing costs.
The second-most expensive city to live in is San Francisco, and New York sneaks in just after that, followed by San Diego, Baltimore, Los Angeles, Seattle, and Boston. The least expensive city in the study was Cleveland, Ohio with housing costs of $9,061 per year on average. So expect the next New York City exodus to point towards the Midwest.