Overview of the USA
Homes in the United States have a median price of $433,229, and median household income is $80,610. The United States has a moderate property crime rate of 19.54 incidents per 1,000 people.
Curious what your salary would look like after taxes in the United States? Try our free tax calculators.
Median rent is now $1,645 per month in 2024, $20 more than the year prior. Between the years 2020 and 2024 inflation was 21.4%, a 40-year high.
50% of renters are now spending more than the recommended 30% of their income on rent.
| 🏢 Most Populated City | New York City |
| 🏠 Median Home Price | $433,229 |
| 💲 Value of $100 | $100 |
| 📆 Median Monthly Rent | $1,645 |
| 🚓 Property Crime Per 1000 | 19.54 |
Consumer prices have increased by 21.4% since 2020, with home prices rising 47% and rent up 22%. Real wage growth from 2020 to 2024 has been just 1.5%.
Enter your State to track its 2024 Cost of Living with analytics from The Next Gen Business.
| Topic | Rank |
|---|---|
| COL | #25 |
| Housing | #25 |
| Crime | #25 |
| Taxes | #25 |
| Insurance | #25 |
Cost of Living in the USA
The average cost of living expenses in the United States including: housing, transportation, food, services, and miscellaneous expenses.
Annual Average Expenditures
Here are the average annual expenses for a person/family with a median income in the U.S. Percentages are based on national averages..
| Category | Percent | $80,610 |
|---|---|---|
| Housing | 33.5% | $27,004 |
| Transport | 16.6% | $13,381 |
| Food | 12.6% | $10,157 |
| Apparel/serv. | 2.6% | $2,096 |
| Healthcare | 8.1% | $6,529 |
| Entertainment | 5.0% | $4,031 |
| Personal care | 1.2% | $967 |
| Reading | 0.2% | $161 |
| Education | 1.8% | $1,451 |
| Alcohol | 0.9% | $725 |
| Smoking | 0.5% | $403 |
| Miscellaneous | 1.4% | $1,129 |
| Cash Contr. | 3.7% | $2,983 |
| PI/pensions | 11.9% | $9,593 |
Monthly Average Expenditures
These are the average monthly expenses for a person/family earning $80,610 a year. Monthly, that’s an income of $6,718.
| Category | Percent | $6,718 |
|---|---|---|
| Housing | 33.5% | $2,250 |
| Transport | 16.6% | $1,115 |
| Food | 12.6% | $846 |
| Apparel/serv. | 2.6% | $175 |
| Healthcare | 8.1% | $544 |
| Entertainment | 5.0% | $336 |
| Personal care | 1.2% | $81 |
| Reading | 0.2% | $13 |
| Education | 1.8% | $121 |
| Alcohol | 0.9% | $60 |
| Smoking | 0.5% | $34 |
| Miscellaneous | 1.4% | $94 |
| Cash Contr. | 3.7% | $249 |
| PI/pensions | 11.9% | $799 |
Source: Consumer Expenditure Survey, U.S. Bureau of Labor Statistics
Taxes in the USA
Tax rates including: federal income tax, state income tax, capital gains, and sales taxes.
| 🏛 Federal Tax | 10-37% |
| ⚖️ State Taxes | 0-13.3% |
| 📊 Capital Gains | 0-20% |
| 📜 State Sales Tax | 5% |
| 📃 Local Sales Tax | 2% |
| ➕ Combined Sales Tax | 7% |
Jobs in the USA
Key job metrics including: Unemployment Rate, Average Wage, and Labor Force Participation.
| 📈 Job Growth Rate | 1.37% |
| 💼 Unemployment Rate | 3.9% |
| 👷 Job Openings Level | 8.1 Million |
| 💰 Median Household Income | $80,610 |
| 💸 Median Hourly Wage | $18.12 |
| 🧑🏭 Labor Force Participation | 62.70% |
Insurance in the USA
Insurance costs including: monthly health insurance, car insurance, life, travel, and renters insurance.
| 🔑 Renters Insurance | $14-17 |
| 🏚️ Home Insurance | $146 |
| 🚗 Car Insurance | $223 |
| 🧳 Travel Insurance | $56-145 |
| 🏥 Health Insurance | $584 |
| 🪦 Life Insurance | $14 |
Crime in the USA
Typical crime rates in the United States including: Crime Rate Per 100k Residents, Violent Crime Per 100k Residents, and Non-Violent Crime Per 100k Residents.
| 👥 Population | 341.68 Million |
| 🕵️♂️ Crime Rate | 4,287.31 |
| 🔪 Violent Crime | 384.02 |
| 👛 Non-Violent Crime | 3,903.28 |
Nominal vs. Real
Travel back in time to compare past housing costs with what people used to earn. Constant: September 2024 U.S. Dollars
| Category | Nominal | Inflation-Adjusted |
|---|---|---|
| Median Income | $80,610 | $80,610 |
| Median Home Price | $433,229 | $433,229 |
| Median Rent | $1,645 | $1,645 |
| Category | Nominal | Inflation-Adjusted |
|---|---|---|
| Median Income | $49,280 | $71,143 |
| Median Home Price | $174,600 | $252,061 |
| Median Rent | $855 | $1,234 |
| Category | Nominal | Inflation-Adjusted |
|---|---|---|
| Median Income | $41,990 | $76,761 |
| Median Home Price | $119,600 | $218,639 |
| Median Rent | $602 | $1,101 |
| Category | Nominal | Inflation-Adjusted |
|---|---|---|
| Median Income | $29,940 | $72,112 |
| Median Home Price | $79,100 | $190,515 |
| Median Rent | $447 | $1,077 |
| Category | Nominal | Inflation-Adjusted |
|---|---|---|
| Median Income | $16,830 | $64,296 |
| Median Home Price | $47,200 | $180,320 |
| Median Rent | $243 | $928 |
Where does the data come from?
Government Data
Public & Private Organizations
For example: Public & private organizations include companies such as Zillow and Redfin. They also include nonpartisan 501(c)(3) nonprofits such as Tax Foundation.