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One of the key considerations before moving to another place is how much it's going to cost to live there. Metro cities offer many features and amenities, from nationally-recognized sites and restaurants to public transit and unique cultures. Depending on where you live, however, it could be more pricey.
That's why 24/7 Wall St. analyzed data to find the most expensive city in every state. Here's how they conducted their research:
"To determine the most expensive city in every state, 24/7 Wall St. reviewed cost of living from the Bureau of Economic Analysis. Metropolitan areas were ranked based on the regional price parity for all goods and services in 2019. Supplemental data on median household income and poverty rate came from the U.S. Census Bureau’s 2020 American Community Survey based on five-year averages."
According to researchers, Washington's most expensive city is Seattle! Several reports say the cost of living in the Emerald City is exceptionally high compared to other metro cities in the U.S. Some communities near Seattle have the most expensive homes in the state.
They also broke down the stats for the metro area:
- Cost of living in Seattle-Tacoma-Bellevue: 12% more expensive than the U.S. average
- Cost of living in Washington: 7.4% more expensive than the U.S. average
- Poverty rate: 8.4% (state: 10.2%)
- Median household income: $90,790 (state: $77,006)
Check out the full report on 24/7 Wall St's website.