![]() Here the average household income is only $55 191 annually, whereas the amount needed to live comfortably is $99 667. It also highlighted that the biggest gap between median household income and what you actually need to live comfortably is in New York. ![]() The analysis pointed out that San Francisco residents need the highest income to cover the cost of necessities. During this same time period, the consumer price index has increased at a much lower rate of 109.In 1986, 1 would have purchased over half of a Big Mac. The increase in the cost of living means that Americans need to earn more to live comfortably, but unfortunately the median household income is not keeping up with the increases in the cost of living experienced by America’s largest cities. Since 1986, the price of a Big Mac has increased 171 from 1.60 to 4.33 today. While you can expect to earn more in these cities, the increase in salary is often not enough to offset the higher cost of living.Ī recent analysis of the Bureau of Labour Statistics’ Consumer Price Index shows that the cost of living in America has climbed 14% over the past three years. While the cost of living in the USA varies from region to region and even city- to-city, it’s important to be aware that living in a cosmopolitan centre, irrespective of region, can work out more than 50% above the national average. Cost of living in USA: Major cities put a strain on your budget
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