Are you living the Dream?
The American Dream is defined perhaps a little differently around the United States, but the gist of it — no matter where you are — is that America is the land of opportunity, of freedom, of equality, of upward mobility.
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Of course, there is a cost for that opportunity — and that price varies based on where you live. GOBankingRates recently calculated the amount needed to live the Dream in the 50 largest cities, and here we break down the 10 most expensive places to do so.
1. San Jose, California
Household income for the American dream: $319K
Total annual cost of living: $160K
Grocery costs per year: $10,302
Average monthly mortgage cost: $9,228
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2. San Francisco
Household income for the American dream: $297K
Total annual cost of living: $149K
Grocery costs per year: $10,565
Average monthly mortgage cost: $8,110
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3. San Diego
Household income for the American dream: $242K
Total annual cost of living: $121K
Grocery costs per year: $9,940
Average monthly mortgage cost: $6,660
4. Los Angeles
Household income for the American dream: $234K
Total annual cost of living: $117K
Grocery costs per year: $9,433
Average monthly mortgage cost: $6,007
5. New York City
Household income for the American dream: $220K
Total annual cost of living: $110K
Grocery costs per year: $10,565
Average monthly mortgage cost: $4,656
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6. Long Beach, California
Household income for the American dream: $215K
Total annual cost of living: $108K
Grocery costs per year: $9,233
Average monthly mortgage cost: $5,321
7. Seattle
Household income for the American dream: $212K
Total annual cost of living: $106K
Grocery costs per year: $9,849
Average monthly mortgage cost: $5,433
8. Oakland, California
Household income for the American dream: $205K
Total annual cost of living: $102K
Grocery costs per year: $10,085
Average monthly mortgage cost: $4,761
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9. Boston
Household income for the American dream: $199K
Total annual cost of living: $99K
Grocery costs per year: $10,094
Average monthly mortgage cost: $4,685
10. Washington, D.C.
Household income for the American dream: $187K
Total annual cost of living: $94K
Grocery costs per year: $10,339
Average monthly mortgage cost: $4,165
Methodology: For this study, GOBankingRates analyzed the largest 50 cities based on population, as sourced from the U.S. Census American Community Survey. The cost-of-living indexes were sourced from Sperling’s BestPlaces. Average expenditure costs were from the Bureau of Labor Statistics Consumer Expenditure Survey. Home value and mortgage data came from Zillow Home Value Index for January 2025 and Federal Reserve Economic Data. Using the 50/30/20 rule that states 50% of household income goes to needs, 30% goes to discretionary spending and 20% is used for savings, the cost of living was doubled to find the income needed to live the American Dream. All data was collected on and is up to date as of March 4, 2025.
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This article originally appeared on GOBankingRates.com: Here Are the 10 Most Expensive Cities To Achieve the American Dream
