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When planning to settle in the United States, understanding the cost of living here is extremely important. According to the latest reports, the average cost of living in the United States is around 20,800 - 26,000 USD per year, equivalent to 1,733 - 2,167 USD per month. Let’s take a closer look at each expense to prepare as best as possible for your settlement journey.
The average cost of living in the United States, about 20,800 - 26,000 USD per year, includes housing rent, transportation, internet, electricity, and many other expenses. This figure can vary significantly depending on the state, city, and personal lifestyle.
The average cost of living in the United States is around 20,800 - 26,000 USD per year
According to the U.S. Bureau of Labor Statistics (BLS), the average annual salary in the United States in 2023 was about 60,000 USD. This indicates that living expenses account for roughly 35-43% of income, leaving a considerable amount for savings.
Studio/1-bedroom apartment: $800 - $2,500/month
2-bedroom apartment: $1,200 - $3,500/month
Family house: $1,500 - $5,000/month
Shared housing: $400 - $1,200/month
Average home price: $350,000 - $500,000
Mortgage term: 15-30 years
Interest rate: 6-8% in 2025
Housing costs are the largest expense in the budget"
On average, a person in the United States spends about 300-470 USD per month on food. Details are as follows:
Rice (1kg): $6.10
Beef (1kg): $15-25
Chicken (1kg): $8-12
Vegetables and fruits: $50-80/tháng
Milk (1 liter): $3-4
Fast food meal: $8-15
Mid-range restaurant: $15-30/person
High-end restaurant: $40-80/person
Used car: $5.000 - $15.000
New car: $25.000 - $45.000
Car insurance: $100 - $300/tháng
Gasoline: $150 - $250/tháng
Maintenance: $50 - $100/tháng
Subway monthly pass: $80 - $150
Bus: $50 - $100/tháng
Uber/Lyft: $200 - $400/tháng
Electricity: $80 - $150/tháng
Water: $30 - $70/tháng
Internet: $50 - $100/tháng
Phone: $40 - $80/tháng
Cable TV: $60 - $120/tháng
Individual plan: $300 - $600/month
Family plan: $800 - $1,500/month
Basic doctor visit: $150 - $300/visit
Medication: $50 - $200/month
California: $28.000 - $35.000/year
New York: $26.000 - $32.000/year
Massachusetts: $25.000 - $30.000/year
Hawaii: $30.000 - $38.000/year
Texas: $18.000 - $23.000/year
Florida: $19.000 - $24.000/year
Ohio: $16.000 - $21.000/year
Tennessee: $17.000 - $22.000/year
Price differences:
Housing: 5-10 times higher in the United States
Food: 3-5 times higher in the United States
Transportation: similar or 20-30% higher in the United States
Healthcare: 10-15 times higher in the United States
However, income in the United States is also much higher:
Average salary in the United States: $60,000/year
Average salary in Vietnam: $3,500/year
Difference: about 17 times higher
For low-income individuals:
SNAP (Food Stamps): Support for purchasing food
Medicaid: Free health insurance
Section 8: Housing rental assistance
LIHEAP: Utility cost assistance
For families with children:
WIC: Nutrition support for women and children
Child Tax Credit: Tax reduction for families with children
Free School Lunch: Free meals at school
Although the cost of living in the United States is high, it can still be managed with proper financial planning. On average, one needs $20,800 - $26,000/year for basic living, and $60,000 - $80,000/year for a more comfortable lifestyle.
Living expenses in the United States may be high, but they can still be managed
Are you considering settling in the United States and need financial advice? Quoc Tich Thu Hai, with its team of experienced experts, will help you create a detailed financial plan and provide guidance on immigration programs that match your budget and goals. Contact us today at https://quoctichthuhai.com/ for free consultation and the latest updates on living costs as well as U.S. immigration opportunities..
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