OAN’s Elizabeth Volberding
11:33 AM – Thursday, October 19, 2023
The United States News and World Report recently ranked San Diego as the country’s most expensive city to live in.
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The American news magazine released real estate data for 2023 and 2024, ranking the median gross rent and annual living costs in San Diego, as well as additional high fees for homeowner payments.
In the ranking, America’s Finest City was considered the most expensive city in the nation for residents living in the area. In the statistical research conducted to identify the most desirable cities for settling down, the metro region also received a “value score” of 3.3.
The magazine explained that the Value Index measures are based on how “comfortably” the average resident of a city can afford to live “without tension or stress.” It reviews housing reasonability and federal statistics on the equivalency between regional costs and nationwide averages.
Out of the ten most expensive cities in the United States, seven were in California.
Most Expensive Places to Live in the U.S. according to 2023-2024 data:
- San Diego, CA
- Los Angeles, CA
- Honolulu, HI
- Miami, FL
- Santa Barbara, CA
- San Francisco, CA
- Salinas, CA
- Santa Rosa, CA
- San Juan, PR
- Vallejo & Fairfield, CA
A few additional cities were ranked on the list as well, including San Jose (14th), Sacramento (15th), Stockton (17th), Modesto (19th), and Fresno (20th).
The main factor that pushed San Diego to the top of the list included the city’s home prices, given that the average prices are significantly higher than the country’s national ratio.
The report also highlighted how many San Diegans were still willing to pay increased prices for their housing, due to other aspects of the city that make it a “flawless place to live.” The magazine stated that some residents describe the elevated cost-of-living prices in the city as the “sunshine tax” or the price of “enjoying a year-round temperature climate.”
However, according to estimates from the U.S. Bureau of Labor Statistics (BLS), San Diego’s annual rate of inflation in September was higher than the 3.7% national average. The area’s prices increased 4.7% on average over the previous year, as reported by the agency.
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