Yahoo Finance has gathered statistics from the Economic Policy Institute's 2015 Family Budget Calculator to demonstrate, once and for all, that living in San Francisco and New York City is really expensive. The accompanying story suggests that Cincinnati might be a cheaper — and vastly superior (our interpretation) — alternative.
"Even if you're living on your own, expenses can add up," Yahoo Finance explains. "Especially in a big city."
The Economic Policy Institute gathered data in 618 metro areas throughout the the U.S. for several different family types, and Yahoo's story focused on the cost of living for a single person (one adult, zero children) in 24 major U.S. cities. Their numbers measure the annual cost of necessities for one adult to live a "modest lifestyle" by estimating the costs of housing, food, transportation, health care, other necessities and taxes; the numbers don't include savings or discretionary spending.
It costs over $43,500 per year for a single person to live in San Francisco and NYC, the two most expensive cities of the 24 surveyed. Cincinnati comes in as the cheapest, costing a single person $25,403 per year. Cleveland, San Antonio and Pittsburgh were just behind Cincinnati on the list.
Read the full Yahoo Finance story here