If you took a typical family of four earning a total of $60,000 and moved them around the country, the city in which they would have to spend the most in order to maintain their lifestyle is, with no suprise, New York City.
According to the analysis by Runzheimer International, the annual cost for this family to live in Manhattan is $146,040, including housing, taxes, and costs of owning two vehicles or commutation depending on location.
Unless I’m missing something, a family earning $60,000 each year with $146,000 in expenses each year is in a very bad position.
At an annual cost of $146,060, Manhattan homeowners pay 137.9% more than the national average. And it costs $12,173 more a year to live in Manhattan than to live similarly in San Francisco, according to Runzheimer. The difference between the second and third locations, San Francisco and Los Angeles, is $16,161.
Updated July 16, 2010 and originally published October 19, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.