The 15 most and least expensive cities in the US
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- Ten of the 15 most expensive metros based on regional price parity data for 2023 were in California.
- Miami and New York were two non-California metros with higher prices than the national average.
- Some of the least expensive areas were in Arkansas.
The most expensive US metros are commonly found in California, while many of the least expensive ones can be found in the South.
The Bureau of Economic Analysis recently published regional price parity data for 2023. The figures for states and metros show how price levels of goods and services compare to the national average.
The metro area of Seattle had a regional price parity for goods and services of around 113 in 2023. That means prices were 13% more expensive than the national average, making it one of the metros with the highest regional price parities.
"Whether you are considering a job offer in a more expensive city, looking for an affordable place to retire, or are just curious about how price levels compare between different parts of the country, our regional price parities can help," Vipin Arora, the director of the Bureau of Economic Analysis, said in a post.
California was 12.6% more expensive than the national average in 2023, making it the state with the highest regional price parity.
Several Golden State metros had the highest regional price parities among the over 380 metro areas in the US. San Luis Obispo-Paso Robles was roughly 11% more expensive than the national average, and prices in San Francisco-Oakland-Berkeley were 18% higher than the average.
It's also especially pricey in the Seattle, New York, Miami, Boston, and Honolulu metro areas, rounding out the non-Californian metros with the highest regional price parities in 2023.
Pine Bluff, Arkansas, was around 20% less expensive than the national average, making it the metro with the lowest regional price parity in 2023. Arkansas had the lowest regional price parity among states last year.
Several other metros in Arkansas were among the least expensive areas in the US. Most of the 15 metros with the lowest cost of living were in the South.