3rd most expensive: San Francisco
Cost of living: 61.6 percent above U.S. average
City population: 825,863
Median household income: $73,802
Median home value: $750,900
Living expenses in San Francisco can be as steep as the city’s famed hills. Housing costs, at nearly three times the national average, are the main culprit. The median value of a home in San Francisco is by far the highest on our list of expensive cities, beating out runner-up San Jose by a whopping $175,800. A typical two-bedroom, two-bathroom apartment rents for $2,925 a month, more than triple the national average.
Household incomes about 40 percent above the national median help balance local budgets. The job market is favorable, too, with an unemployment rate of 6 percent and 5,335 job postings available per 10,000 people over the past year. Entrepreneurial opportunities also abound: San Francisco has drawn in $3.2 billion in investment money, about 34 percent of all U.S. venture capital, in just the first quarter of 2014.
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