What do US consumer prices reveal about interest rates?
1:36
(CNN Spanish) --
Although the price increase in the United States is no longer the same as what we saw last year, inflation in the country is still at high levels at the beginning of 2023, so you may be wondering how convenient It's the city you live in.
To help you answer that concern, we give you here a first input: the list of the most expensive cities in the country.
Santa Barbara is the most expensive city in the United States, according to data analysis site Numbeo's cost of living and rent index.
They are followed by New York City, and two more Californians (San Francisco and Oakland).
In fact, the presence of California is the most prominent in the ranking, since five of the 10 most expensive are in that western state.
The Numbeo values taken as a reference combine two indices: the cost of living and the income.
The cost of living is compiled based on the prices of consumer goods that include groceries, restaurants, transportation, and utilities.
The rent adds the cost of rentals to the equation.
With these data, this is the list of the most expensive cities:
Santa Barbara, California
New York (New York)
San francisco California)
Oakland (California)
Honolulu (Hawaii)
Seattle (Washington)
Boston (Massachusetts)
San Diego, California)
San Jose (California)
Washington (District of Columbia)
If cost of living without rent were taken into account, Santa Barbara would still be in first place, New York would drop to fourth place, and Honolulu would move up to second place, albeit with insignificant differences.
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However, if we take Honolulu as an example, the city is up to the fifth most expensive city in the US due to its low rent index.
Meanwhile, in the case of San José, CNN reported that this city is the most expensive place in the US to buy a house, according to data from the end of 2022;
however, prices there have dropped significantly since the second quarter of last year.
This was repeated in other California cities, including San Francisco.
Although it is also one of the most expensive cities to live in the United States, it was the one that registered the biggest drop in home prices at the end of 2022.
These are the US cities where home prices are falling
Correlation between the most expensive cities and states
At the state level, a certain correlation can be noticed.
According to the Missouri Center for Economic Research and Information, the five most expensive states in the country (taking the District of Columbia as independent) in 2022 were Hawaii, the District of Columbia, Massachusetts, California, and New York.
How to compare the cost of living
If you're considering moving and looking for places where the cost of living is lower, you can access this online calculator from CNN that allows you to compare what you pay between two cities in various categories disaggregated and in general terms.
The comparison is made based on the figures of the Cost of Living Index updated to September 2022.
most expensive cities
