The cost that a two-parent, two-child family wants just to pay the bills ranges from approximately $50,000 to higher than $100,000 depending on where people live, according to data published Wednesday by the humane and nonpartisan think tank the Economic Management Institute. “This does not mean a middle-class lifestyle,” says Elise Gould, a senior economist with EPI. Most expensive cities in the US 2015, “This is just living, no savings.”
The study looked at 618 metro areas and calculated the cost of living in each based on the costs of housing, childcare, food, transportation, health care and other necessities, as well as taxes. Perhaps surprisingly, child care is the sole most expensive line item for these families. In 500 of the 618 areas that EPI looked at, child care was parents’ biggest annual expense, equating about $12,500 a year nationwide and climbing above $30,000 a year in one city.
List of Top Ten Most Expensive Cities In The US 2015
10. Danbury, Conn.
With high housing and child-care amounts, as well as high taxes, it will price a family of four just above ($89,000) to pay the bills in this city.
9. San Francisco
Despite covering costs that are the highest in the country, Most expensive cities in the US, with housing offset somewhat by child-care costs that are much cheaper than in much of New York ($10,815).
8. Ithaca, N.Y.
Living in this charming college town won’t come cheap it costs a family of four ($92,603) to get by. This high cost is expected to high taxes and rents, and may be skewed slightly higher thanks to the charges of child care in New York state.
7. Poughkeepsie-Newburgh-Middletown, N.Y.
These towns typically aren’t known for a ultra-posh living, but due in part to high housing costs, these municipalities collectively claim the 7th spot on the list. It costs a family of four ($92,837) to pay the bills in this area.
You’ll pay dearly to live amid the light and sand of Honolulu. It takes a people of four here ($94,092) to get by. Food prices ($11,244) are the highest in the country, thanks to the large role to extra shipping expense.
5. Stamford-Norwalk, Conn.
A family consisted of four members living in the Stamford-Norwalk area needs ($97,350) to pay the bills and gets hit mainly hard by housing costs ($22,290 a year), other necessities ($15,603) and taxes ($15,487).
4. New York City
The New York City gets the No. 4 spot on this list requiring a family of four to get ($98,722) just to get by. City dwellers get a break on transportation costs at least compared with their suburban friends in Westchester and Nassau–Suffolk County.
3. Westchester County, N.Y.
Like Long Island, this suburban region outside New York City is particularly pricey for families ($99,592) on average. The area shares various of the characteristics of Nassau–Suffolk County, containing high taxes ($15,589).
2. Nassau-Suffolk, N.Y.
Generations of city dwellers have traveled to Long Island to raise their kids, but clearly not to save money. The Nassau–Suffolk County district holds the second spot in the list of top 10 most expensive cities in the US, costing families their $103,606. You’ll likely use a lot for rent, as well as on taxes ($16,822) and other necessities ($13,881).
1. Washington, D.C.
A family of four wants ($106,493) just to get by in Washington making this city the most expensive u.s city for parents to raise two children. Here the child care is mainly priced at ($31,158) per year which is reported to be the highest in the United States.
List of Top 10 Most Expensive Cities In The US 2015-2016 at a Glance
||Most Expensive Cities in the U.S.
|3||Westchester Country, N.Y.||$92,603|
|4||New York City||$92,837|
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