20 Cities With the Biggest Cost of Living Increase in 2017
It's becoming more expensive to live in these major U.S. cities.
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The overall cost of living is rising in many of America’s major cities, but increases are larger in some than others. So, if you’re looking for a cheaper place to live, you might want to avoid moving to any of the cities on our list.
To determine the top 20 major U.S. cities with the biggest cost of living increase in 2017, GOBankingRates examined three factors:
Cost of Living: Overall cost of living increase year-over-year from 2016 through 2017. This measure indicates the cost of consumer goods, including groceries, restaurants, transportation and utilities.
Rent: Increase in median rent year-over-year from September 2016 to September 2017.
Home Prices: Increase in median home prices year-over-year, from September 2016 to September 2017.
Click through to see the results of our cost-of-living comparison by city, and discover the cities where the cost of living is rising quickly.
20. Salt Lake City
Cost of living increase in 2017: 4.3%
Year-over-year change in rent: 6.3%
Year-over-year change in home prices: 12.7%
Salt Lake City is one of the cities where incomes are increasing, which is good news considering the cost of living is rising as well. Between 2016 and 2017, the median rent in Salt Lake City rose from $1,417 to $1,506, and median home prices jumped from $354,900 to $399,990.
Even though costs have increased in the city, the overall cost of living remains relatively low: Of the 156 cities ranked for cost of living, Salt Lake City ranked toward the bottom of the list at No. 141.
19. Tampa, Fla.
Cost of living increase 2017: 8.9%
Year-over-year change in rent: 3%
Year-over-year change in home prices: 7.7%
The median home price in Tampa, Fla., is now $279,900, up $20,000 from last year’s median. On the plus side, if you can afford to buy a house in Tampa, you’ll be happy to know a previous GOBankingRates study found it’s one of the best cities in the country to own an investment property.
18. San Jose, Calif.
Cost of living increase 2017: 10.4%
Year-over-year change in rent: 0.1%
Year-over-year change in home prices: 10.3%
San Jose is one of the most expensive cities in the U.S. that require a large salary in order to live comfortably, found a separate study. And it looks like it will become even more expensive.
The cost of owning a home has risen over 10 percent in the past year, with median list prices now at $869,999. Of the major U.S. cities, San Jose has the second-highest median list price in the country.
Although the median rent has only risen $2 between 2016 and 2017, the city still has the highest rents in the country compared to the other cities in the study. Housing advocates have pushed to increase current rent control laws, stating that rent prices are increasing at a rate that residents’ wages simply cannot keep up with.
17. Rochester, N.Y.
Cost of living increase 2017: 4.5%
Year-over-year change in rent: 4.2%
Year-over-year change in home prices: 18%
Rochester experienced the sixth-biggest increase in median home prices of all the cities included in this study. However, home prices are still relatively inexpensive in this Northeast city. With a median home price of $64,900, Rochester offers the second least expensive homes in the U.S. compared to the other major cities.
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16. Greensboro, N.C.
Cost of living increase 2017: 6%
Year-over-year change in rent: 4.9%
Year-over-year change in home prices: 13.1%
The cost of living, rent and home prices are all on the rise in Greensboro, but it’s still an affordable place to rent. A previous GOBankingRates study found Greensboro is one of the cheapest places to rent in the U.S. And, North Carolina is one of the only states where it’s still cheaper to rent than to buy. Median rent now sits comfortably at $1,023.
15. Jacksonville, Fla.
Cost of living increase 2017: 7.5%
Year-over-year change in rent: 2.7%
Year-over-year change in home prices: 14.8%
Jacksonville’s increase in home prices have contributed the most to its rising cost of living. The median home list price rose from $169,900 in 2016 to $195,000 in 2017. And a separate GOBankingRates cost-of-living comparison found that the amount of income required to live comfortably in Jacksonville has risen over $2,000 between 2016 and 2017.
14. Tulsa, Okla.
Cost of living increase 2017: 15.6%
Year-over-year change in rent: -2.3%
Year-over-year change in home prices: 6.2%
Rent prices have decreased in Tulsa over the past year, but the overall cost of living is still on the rise. Basic living costs — including groceries, restaurants, transportation and utilities — increased 15.6 percent, which is the third-biggest increase of any city included in this study.
13. Sacramento, Calif.
Cost of living increase 2017: 5.6%
Year-over-year change in rent: 8.7%
Year-over-year change in home prices: 10.8%
Both rent and home prices have increased in Sacramento over the past year. The median rent has increased from $1,482 in 2016 to $1,611 in 2017, while median home list prices have increased from $269,750 in 2016 to $299,000 in 2017. As a result, Sacramento is one of the worst places to live if you’re trying to save money.
12. Hartford, Conn.
Cost of living increase 2017: 10.5%
Year-over-year change in rent: 8.1%
Year-over-year change in home prices: 0%
Home prices have remained steady, but living expenses and rent have both increased in Hartford over the past year. It might be difficult for Hartford residents to keep up with rising costs — a previous GOBankingRates study found that Hartford is the poorest city in Connecticut, with about a third of the population living below the poverty line.
11. Charleston, S.C.
Cost of living increase 2017: 12.6%
Year-over-year change in rent: 1.6%
Year-over-year change in home prices: 6.8%
Charleston ranked just shy of the top 10 U.S. cities where the cost of living has increased the most in 2017. Median rent in the Southern city has increased from $1,779 in 2016 to $1,808 in 2017, and median home prices have gone up from $350,990 in 2016 to $374,900 in 2017.
10. Detroit
Cost of living increase 2017: 10.6%
Year-over-year change in rent: 0%
Year-over-year change in home prices: 15.3%
The cost of living is on the rise in Detroit, but fortunately, it’s still a relatively affordable place to live. The average rent price has not gone up in the city over the past year, and with a median rent of $747, Detroit has the cheapest rent of any of the major U.S. cities included in the study. In fact, among the 50 biggest cities in America, Detroit requires the second-lowest income to live there comfortably.
9. Salem, Ore.
Cost of living increase 2017: 7.9%
Year-over-year change in rent: 6.7%
Year-over-year change in home prices: 12.1%
If you’re looking for a cheaper place to live, you might not want to move to Salem where costs are rising for residents’ living expenses, rent and homes. The median home list price increased from $239,900 in 2016 to $269,000 in 2017.
8. Louisville, Ky.
Cost of living increase 2017: 7.2%
Year-over-year change in rent: 9.2%
Year-over-year change in home prices: 11.1%
Increasing home prices are the biggest factor in Louisville’s overall cost of living increase. Between 2016 and 2017, the average home list price rose $25,000 and is now at $150,000. GOBankingRates also found that you’ll need to make $2,066 more each year to live there comfortably in 2017 compared to the previous year.
7. Seattle
Cost of living increase 2017: 12.1%
Year-over-year change in rent: 4.6%
Year-over-year change in home prices: 9.2%
Seattle has grown rapidly thanks to Amazon — which has its headquarters there — and the tech boom, which has caused living costs in the city to rise. In the past year, the median home price increased $55,000, and the average price for a home now sits at $650,000 — the seventh-highest of all the cities included in this study. Seattle is currently working to expand its affordable housing program to combat rising housing costs and the increase in homelessness.
6. Atlanta
Cost of living increase 2017: 6.6%
Year-over-year change in rent: 4.9%
Year-over-year change in home prices: 22.7%
Home prices are skyrocketing in Atlanta, which saw the biggest year-over-year increase in the median home price of any of the major cities in the U.S. Home prices jumped $60,950 between 2016 and 2017 in the Southern city. Rents are also on the rise in Atlanta, so it might become difficult to afford any housing in the area. The median rent is now $1,533.
Don’t Buy a Home Here: Top 20 Cities Where Home Prices Are Skyrocketing
5. Indianapolis
Cost of living increase 2017: 10%
Year-over-year change in rent: 1%
Year-over-year change in home prices: 22.4%
Indianapolis has the second-largest year-over-year increase in home prices of any major city in the U.S. with prices rising $26,900 between 2016 and 2017. Fortunately, rent has remained pretty stagnant, so those looking to rent have more affordable options. The median rent for 2017 is $1,090.
4. Reno, Nev.
Cost of living increase 2017: 9.9%
Year-over-year change in rent: 6.7%
Year-over-year change in home prices: 12.6%
Although cost of living is increasing at a high rate in Reno, it’s still one of the more affordable major cities in the U.S. The 2017 median rent in Reno is $1,603, while the median home price is $399,900. A separate GOBankingRates study found that Reno is one of the U.S. cities where you can live comfortably for less than $50,000 a year.
More Affordable Places: 31 Cities Where You Can Afford to Live Off Less Than $50,000
3. Nashville, Tenn.
Cost of living increase 2017: 15.4%
Year-over-year change in rent: 2.2%
Year-over-year change in home prices: 10.2%
Nashville has seen a large jump in the cost of everyday living expenses, with the cost of living increasing 15.4 percent — the fourth-largest increase of all the major U.S. cities. Housing prices have also seen a sizable year-over-year increase from 2016 to 2017, with the median home price rising from $295,000 to $325,000. GOBankingRates found that it costs $9,135 more to live comfortably in Nashville this year than it did last year.
2. Saint Paul, Minn.
Cost of living increase 2017: 15.7%
Year-over-year change in rent: 2.2%
Year-over-year change in home prices: 13.4%
At 15.7 percent, Saint Paul has seen the second-largest annual cost-of-living increase of the major U.S. cities in the study. Home prices also increased significantly, with median home prices rising from $184,700 in 2016 to $209,500 in 2017.
1. Eugene, Ore.
Cost of living increase 2017: 22%
Year-over-year change in rent: 5.7%
Year-over-year change in home prices: 10.9%
Eugene tops the cost-of-living index by city for its high cost-of-living increase by year. The jump in living expenses has soared at the highest rate there compared to any other major U.S. city, while rent and home prices also continue to rise. Rent has increased $77 over the past year, while median home prices have increased $30,000.
Up Next: 20 Cities With the Biggest Cost of Living Decrease in 2017
Methodology: GOBankingRates determined the top 20 major U.S. cities with the biggest increase in cost of living based on three factors: 1) overall cost of living increase year over year from 2016 through 2017, sourced from Numbeo.com; 2) increase in median rent year-over-year, from September 2016 to September 2017, sourced from Zillow; and 3) increase in median home prices, from September 2016 to September 2017, sourced from Zillow.
About the Author
Gabrielle Olya
Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Before joining the team, she was a staff writer-reporter for People Magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she has been featured on “Good Morning America” as a celebrity news expert.
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