10 Most Expensive Big Cities in the U.S.
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During this period of economic uncertainty in the United States, consumers need insight into the average cost of living across the country’s big cities. This information not only helps when they are deciding about moving to a new city but also provides perspective into how much residents are spending on the most common household bills.
A new report by doxo, a bill pay platform, shows that the average U.S. household spends $24,557 annually on bills, 35% of the $70,784 median U.S. household income and about $2,046 per month. Some big cities pay much more and others quite a bit less.
“Through doxoINSIGHTS, we are able to provide consumers, businesses, and financial institutions alike with access to the broadest and most transparent data available on actual household spending for the most common bills,” Liz Powell, a senior director at doxo, said in a statement.
“Additionally, this data allows the service providers and financial institutions that serve them to better align with their needs, which is more crucial now than ever amid dampened consumer confidence in the economy.”
The report’s findings include the total monthly spend on the 10 most common household bills: mortgage; rent; auto loan; utilities; auto insurance; cable, internet and phone; health insurance (consumer-paid portion); mobile phone; alarm and security; and life insurance.
See the accompanying gallery for the 10 most expensive cities among the 50 biggest U.S. cities, according to doxo’s bill-pay data.
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