HCOL vs LCOL [Should You Move To A Top 10 City?]

What is the difference between a high cost of living (HCOL) area and low cost of living (LCOL) area? What does it mean to live in a high or low cost of living area? 

A high cost of living area describes an area that is generally expensive to live in. That means the cost of goods and services in such an area is at its peak.

HCOL Definition

LCOL Definition

A low cost of living area refers to areas or cities whose average costs are below the national average. As a result, the purchase price of goods and services in LCOL areas is less than in MCOL and HCOL areas.

HCOL vs LCOL Why The Price Difference?

The price differences in HCOL and LCOL cities stem mainly from the forces of demand and supply in the market. Of course, this is accentuated by the population in an area.

What To Consider When Choosing Where To Live

Before leaping into a new city, whether an HCOL or LCOL area, you should brainstorm several factors that may ultimately dictate your overall quality of life in your newly found home, for clarity of your moving goals, you can narrow down your considerations into personal factors and financial factors.

Whether you are researching the housing market or simply comparing different grocery costs, it is possible to experience price differences within a given state or city. Moreover, the more you move around the state or city, the sharper the variable costs become. 

Cost Of Living Varies Within Cities

1.  Manhattan, NY 2. Honolulu, HI 3. San Francisco, CA 4. Brooklyn, NY 5. Washington, DC 6. Seattle, WA 7. Oakland, CA 8. Arlington, VA 9. Orange County, CA 10. Boston, MA

The Top 10 HCOL Cities

1. McAllen, TX 2. Knoxville, TN 3. Wichita Fall, TX 4. Augusta, GA 5. Temple, TX 6. Florence, AL 7. Fort Wayne, IN 8. Springfield, MO 9. Tulsa, OK 10. Petersburg, FL

The Top 10 LCOL Cities

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