New Report Reveals Most Expensive and Most Affordable Largest U.S. Cities

While the Average American Spends $2,126 per Month on Household Bills, San Jose, CA is the Most Expensive City at $3,695 per Month, and Detroit, MI is the Most Affordable at $1,640 per Month

New Report Reveals Most Expensive and Most Affordable Largest U.S. Cities

Press Contact
Dotted Line Communications for doxo
Jenny Davis
press@doxo.com

A new report released today by doxo uncovers Americans’ cost of living based on the amount spent on household bills for the 50 largest cities in the nation (based on number of households). doxoINSIGHTS’ 50 Largest U.S. Cities Household Spend Report 2024, which reflects actual bill payment activity across more than 97% of U.S. zip codes, reveals the most and least expensive largest cities for Americans to reside based on average spend per month on bill payments. While the average U.S. household spends $25,513 annually on bills, 34% of the U.S. household median income ($74,755) and roughly $2,126 per month, plenty of cities rank well above or below this figure. San Jose, New York, Boston, San Francisco, and San Diego top the list as the most expensive, while Rochester, El Paso, Dayton, Cleveland and Detroit are the most affordable.

Frustrated by the persistent inflation experienced over the past few years, Americans across the nation are awaiting the economic change they voted for in the 2024 Presidential election. Now more than ever, it’s essential for consumers to have insight into the average cost of living across the top U.S. cities. This information not only aids in making informed decisions about relocating, but also sheds light on how much Americans are spending on the top 10 most common household bills.

“With the unparalleled transparency we offer through doxoINSIGHTS, consumers, businesses, and financial institutions have access to the most comprehensive data on real household spending for everyday bills,” said Liz Powell, Senior Director of INSIGHTS at doxo. “With a clear perspective into how much Americans are spending on household bills depending on where they live, and the ability to compare to other cities across the nation, consumers have the insights needed to strengthen their financial well-being. At the same time, this data empowers billers and financial institutions to better understand and meet consumer needs as the economy remains center stage.”

The findings outlined in the Largest 50 U.S. Cities Market Household Spend Report 2024 include the total monthly spend for bills each month, the Cost of Bills Index (COBI), the percentage of income these bills amount to, how these bills compare to the national average and a breakout of each of the ten most common household bills, including: Mortgage; Rent; Auto Loan; Utilities (electric, gas, water & sewer, and waste & recycling); Auto Insurance; Cable, Internet & Phone; Health Insurance (consumer paid portion); Mobile Phone; Alarm & Security; and Life Insurance. A high-level look at the 10 most expensive and least expensive cities among the 50 largest U.S. cities are outlined below.

10 Most Expensive Largest U.S. Cities for Household Bills:

City	Monthly Bill Expense Per Household*	Cost of Bills Index (COBI)**	Percent of Household Income	Percent Above National Average
San Jose	$3,695	174	32%	+74%
New York	$3,639	171	38%	+71%
Boston	$3,410	160	41%	+60%
San Francisco	$3,359	158	29%	+58%
San Diego	$3,324	156	39%	+56%
Los Angeles	$3,113	146	51%	+46%
Seattle	$3,049	143	33%	+43%
Washington, DC	$2,991	141	34%	+41%
Miami	$2,867	135	49%	+35%
Portland	$2,758	130	36%	+30%

10 Least Expensive Largest U.S. Cities for Household Bills:

City	Monthly Bill Expense Per Household*	Cost of Bills Index (COBI)**	Percent of Household Income	Percent Below National Average
Indianapolis	$1,976	93	38%	-7%
Louisville	$1,936	91	34%	-9%
Memphis	$1,912	90	43%	-10%
Albuquerque	$1,907	90	36%	-10%
Oklahoma City	$1,896	89	38%	-11%
Rochester	$1,858	87	35%	-13%
El Paso	$1,784	84	38%	-16%
Dayton	$1,773	83	32%	-17%
Cleveland	$1,735	82	41%	-18%
Detroit	$1,640	77	53%	-23%

*Household Bill Pay Expense averages shown above reflect the ten most common bills paid, including housing (rent/mortgage). See report for details.

**For the COBI, the number 100 represents the national average and then, states, counties and cities are assigned a number, either above or below 100, based on how they compare to the national average.

From this list of the 50 largest cities in the U.S., doxo’s report reveals the most and least expensive places for Americans to live based on average spend per month on actual household bill payments. Residents of San Jose pay the highest monthly bills out of these 50 cities, at an average of $3,695 in monthly expenses, or 74% higher than the national average of $2,126. California is well represented among the most expensive metro areas ranked, with San Francisco, San Diego, and Los Angeles also on the list. New York, Boston, Washington DC, Seattle, Miami, and Portland also made the list of the top ten most expensive cities.

Findings also show that cities in the Midwest are some of the least expensive in doxo’s largest 50 cities rankings. Detroit residents pay the least in average monthly expenses, at $1,640, which is 23% lower than the national average. Other Midwest-based cities make up the majority of the least expensive cities with Indianapolis, Cleveland, and Dayton all making the list.

To view more from doxoINSIGHTS and its 50 Largest U.S. Cities Household Spend Report 2024, including a full breakdown of the amount paid in household bills across all of the 50 states, as well as previous doxo reports, visit the doxoINSIGHTS website.

Bill Payment Data for 4000+ Cities:

doxoINSIGHTS data covers more than the 50 largest cities in the United States. Use doxoINSIGHTS to uncover household bill information for more than 4,000 cities and towns across the country. The infographics compare average bill expenses in the 10 major household bill categories.

About doxoINSIGHTS

doxoINSIGHTS provides direct insight into The Bill Pay Economy™ by leveraging consumer surveys and doxo’s unique aggregate bill pay data set, comprising actual bill payment activity to confirmed household service providers across the country. doxo data brings together the broadest available data set for analyzing actual household bill payment activity, pulling from over 10 million paying consumers across over 97% of U.S. zip codes. doxo’s payment network covers over 120,000 billers in 45 different service categories and enables payments using bank accounts, credit cards or debit cards. This uniquely broad statistical foundation powers doxoINSIGHTS reports – uncovering key trends for household financial health and bill payment behavior. Uncovering an even deeper level of insight into Americans’ cost of living, doxo’s proprietary Cost of Bills Index™ (COBI), a new feature of doxoINSIGHTS, provides a consistent basis of comparison at the state, county and city level.

About doxo

doxo delivers innovation that transforms the bill pay experience for consumers, billers and financial technology providers. For over 10M consumers, doxo’s all-in-one bill pay makes it simple to organize and pay any bill on any device through a secure checkout. For billers, doxo’s network-driven platform enables online and mobile payments with a ridiculously simple integration, radically lower costs, and game-changing features that are unavailable with legacy bill pay vendors. For fintech partners, doxo delivers financial innovations to consumers across 97% of US Zip Codes, paying from more than 5,000 financial institutions to over 120,000 billers in 45+ service categories. For employees, doxo is a creative, ever-learning team that is passionate about building fintech tools that dramatically improve the bill pay experience. For investors, doxo provides an extraordinary opportunity to invest alongside Jackson Square Ventures, MDV, and Bezos Expeditions to disrupt a market that accounts for over $4T of US Household spend. To learn more about America’s leading bill pay network, visit doxo.com.

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