Both Albuquerque and El Paso are placed in the top ten of the least expensive large cities to live in, according to a new survey looking at the economic challenges and opportunities in the nation’s major metros.
The survey crunched all of the rent, mortgage, utility, health and life insurance obligations faced on a monthly basis by any given household.
According to the Bellevue, Washington bill paying service Doxo, Albuquerque made the least expensive list owing to its residents having a $1,907 monthly bill obligation, an amount that is 10% below the national average.
El Paso showed similarly appealing figures with an average monthly household bill of $1,784, a category that placed it 13% below the national average.
Despite the presence of Albuquerque and El Paso on the least expensive list, most of the cities were based in the Midwest, including Detroit, which has endured a massive exit of nearly 400,000 people in the last two decades and today has an average household bill obligation of $1,640.
That Detroit figure, according to the Doxo survey, is 23% below the national average.
Western cities were a larger presence in the survey’s most expensive cities list, comprising half of the top ten. Although not in the top ten, Denver came in at eleven in terms of being expensive with an average household monthly bill of $2,743.
Other Western cities in the second ten most expensive list have recently enjoyed robust population growth. Las Vegas, Nevada placed 16th with an average household bill of $2,407; followed Phoenix with an average bill of $2,395.
Ranking 19 on the list was Colorado Springs, with a monthly household bill of $2,393.
By far, rents and mortgages made up the greatest monthly obligations for households everywhere, usually accounting for more than 50% of costs. Conversely, such items as alarm and security services often accounted for 10% or less of bills.
The number one most expensive city, according to the survey, is San Jose, California, which has seen a roughly 200,000 increase in its population since the 1990s and today has an average monthly bill expense of $3,695.
That San Jose figure is 7% above the national average.
December 13, 2020
By Garry Boulard
Photo courtesy of Pixabay
