According to the Council for Community and Economic Research, here are the top three most expensive cities in the U.S.
Number 1. San Francisco – you’ll need to make at least $120,000 a year to live comfortably . Currently the median home value in the Bay Area is $935,000. Average rent for an apartment is $4,000 per month.
Number 2. Manhattan, New York – You need to make at least $99,000 per year to live comfortably. The average rent for an apartment is $4,500 and a median home value is $871,000.
Number 3. Washington D.C. – You’ll need to make at least $90,000 per year. The average cost for rent of an apartment is around $2,000 per month and a median priced home value is $500,000.
The three most affordable cities in the U.S., according to SmartAsset are Pecos and Kermit, Texas, along with Federal Heights, Colorado, and Holbrook, Arizona.
In Arizona as a whole, according to Zillow, the median price for a home is $233,000. The average rent for a one-bedroom apartment is $800.00-per month. To be considered low income for one person is $36,000 per year. For a family of four, low income is $51,000.