As housing prices, rent, and daily living expenses soar across the U.S., certain cities have become increasingly difficult for residents to afford. Rising demand, economic factors, and limited housing availability have made some cities unaffordable for families and young professionals.
Here’s a closer look at seven U.S. cities where living costs have reached new heights, leaving many struggling to stay in their homes.
New York City, New York
New York City, particularly Manhattan, consistently ranks as one of the most expensive U.S. markets. The median home price hovers around $1.2 million, while rents for a one-bedroom apartment often exceed $3,000 per month.
With overall living costs 68% higher than the national average, New Yorkers face challenges with everything from dining out to transportation costs. Although the city offers a wealth of job opportunities, many residents are finding it increasingly difficult to make ends meet.
Washington, D.C.
The average monthly rent for a one-bedroom apartment in Washington, D.C., is now approximately $2,265, with centrally located units typically fetching around $2,500…