Thinking About Moving To Any Of These 13 Major US Cities? Read This Before You Do
Families have been relying on budgets increasingly in the past few years, but where you live often affects the budget. Basic costs like food and housing vary and families must consider the basic costs before settling down. There are some areas of the country that are less expensive than others.
For instance, the average family can live better in the Houston, Texas, area than other metropolitan cities in the United States, if you can believe statistics. A standard family budget for a Houston family is $63,725 annually, compared to the $94,676 on average that it costs the same family of four to live in New York City. The primary differences lie in the cost of housing and taxes.
Surprisingly, California is an inexpensive place to live, according to numbers. It would cost a family $65,220 to live in Sacramento and $71,673 to live in San Diego. A family in Los Angeles could live adequately on $74,605 while numbers show it would cost a family $82,639 to live in San Francisco. Housing costs don’t sync with budget numbers. The actuality is that a decent home in Sacramento is available in that budget, but a similar home in Los Angeles will cost an average of $4,000 a month rather than the $1,421 budgeted number. The same goes for San Francisco, where there are a number of foreclosures.
The Northwest is considered affordable for families. Those living in the Portland area will need $66,062 while those living in Portland could live adequately on $70,242. It is interesting, and unrealistic, to consider numbers for other cities. Chicago families can live well on $73,055, according to the numbers, and that is average nationally. Yet, cost-of-living calculators rank Chicago as more expensive than the national average.
Other areas are suspiciously low cost. Numbers show it takes a family of four $88,285 to live in Washington, D.C. and $86,502 to reside in Boston. The same family would need to spend $77,928 a year to live in Philadelphia and $77,516 for those living in Baltimore. Denver families would pay $70,396 a year and those families living in Miami would only spend $66,667 to live well. However, residences in the nation’s capital run typically higher with the median in the upper $300,000s. In Miami, there are more than 10,000 homes on the market with many in foreclosure.
So, a family with a budget should research at the area they plan to live. Every family is different and some may want to simplify housing, but a general set of numbers don’t pinpoint the markets to make definitive decisions.