4. Brooklyn, New York
- Cost of living: 70.3% above U.S. average
- Borough population: 2,641,052
- Median household income: $67,567
- Median home value: $793,300
- Unemployment rate: 5.5%
Technically, Brooklyn is one of the five boroughs that make up New York City, but in the past 20 years or so it has emerged as something of a metropolis unto itself. Indeed, if Brooklyn were an independent city, its population would be on par with Chicago, the third-largest city in the nation.
Once upon a time, Brooklyn was considered a viable alternative for those who couldn't afford to live in Manhattan. Not anymore. Housing-related expenses, including rents and mortgages, are almost four times higher than the national average.
And yet, the median household income in Brooklyn is actually lower than the U.S. median. It's also almost $17,000 lower than the median household income in Manhattan.
Happily, not everything in Brooklyn is eye-wateringly expensive. Utilities run about 4% higher than the national average, and healthcare is only about 6% more expensive. Between them, groceries and transportation costs run about 15% more than what the typical American pays.
Adding to Brooklynites' pocketbook pain is the fact that New York is one of the least tax-friendly states for both retirees and middle-class families.
