Where Cost of Living Increased and Decreased Most – 2026 Study

The cost of living premium in a specific location reflects the relative cost of housing, groceries, utilities, transportation, and other common necessities, compared to the rest of the country. The overall valuation of a dollar also comes into play, with general inflation metrics keeping tabs on nationwide trends and applied across a wider basket of goods and services. Fitting these local and monetary measurements together creates a picture of costs across time and location, giving locals and potential transplants a window into how far their budget will go – or why it may feel like it’s changed.

With this in mind, SmartAsset ranked 236 locations across the United States based on the cost of living changes between 2024 and 2025.

Key Findings

• This city saw nearly a 10% increase in cost of living. Despite still being 3.5% less expensive than the U.S. average, Great Falls, MT is catching up quickly. The cost of living is estimated to have increased by 9.8% year over year. Springfield, MO (8.25%) and Rapid City, SD (7.73%) also ranked among the top three cost increases.
• These places saw the largest drops in cost of living. The cost of living decreased most in Meridian, MS, where common expenses declined by an estimated 4.0% between 2024 and 2025. Orlando, FL saw a 3.8% decline in costs over the same period, followed by Cape Coral-Fort Myers, FL at -3.5%. In all, 41 out of 236 locations saw relief in the cost of living.
• Three cities are 20% less expensive than the U.S. average. Tupelo, MS has the biggest cost advantage over other locations, as prices are estimated to be 21.1% less expensive than average. Harlingen, TX also has a 20.2% cost advantage, as well as Decatur, IL at 20.0% less expensive than average.
• New York City has a 139% cost premium. Manhattan has the highest costs relative to the rest of the country, and ranks 14th overall for annual change in cost of living with an increase of 6.2%. Fellow expensive cities include San Jose, CA (84.1% premium); Honolulu, HI (83.9%); Brooklyn, NY (64.0%); Orange County, CA (63.8%); and San Francisco, CA (63.7%).

Top 20 Places With the Biggest Increase in Cost of Living

Places are ranked based on the relative change in costs between 2025 and 2024.

1. Great Falls, MT
   • One year change in cost of living: 9.78%
   • Cost of living relative to national average: -3.50%
2. Springfield, MO
   • One year change in cost of living: 8.25%
   • Cost of living relative to national average: -7.70%
3. Rapid City, SD
   • One year change in cost of living: 7.73%
   • Cost of living relative to national average: -1.20%
4. Orange County, CA
   • One year change in cost of living: 7.30%
   • Cost of living relative to national average: 63.80%
5. Monroe, LA
   • One year change in cost of living: 7.14%
   • Cost of living relative to national average: -7.60%
6. Waterloo-Cedar Falls, IA
   • One year change in cost of living: 6.80%
   • Cost of living relative to national average: -10.30%
7. Augusta-Aiken, GA-SC
   • One year change in cost of living: 6.66%
   • Cost of living relative to national average: -12.50%
8. Champaign-Urbana, IL
   • One year change in cost of living: 6.64%
   • Cost of living relative to national average: -2.10%
9. Asheville, NC
   • One year change in cost of living: 6.48%
   • Cost of living relative to national average: 6.80%
10. Grand Junction, CO

• One year change in cost of living: 6.29%
• Cost of living relative to national average: 8.90%

11. Philadelphia, PA

• One year change in cost of living: 6.26%
• Cost of living relative to national average: 7.20%

12. Prescott-Prescott Valley, AZ

• One year change in cost of living: 6.22%
• Cost of living relative to national average: 24.70%

13. Dalton, GA

• One year change in cost of living: 6.16%
• Cost of living relative to national average: -9.80%

14. New York (Manhattan), NY

• One year change in cost of living: 6.12%
• Cost of living relative to national average: 139.00%

15. Ponca City, OK

• One year change in cost of living: 6.10%
• Cost of living relative to national average: -17.10%

16. Juneau, AK

• One year change in cost of living: 6.01%
• Cost of living relative to national average: 31.70%

17. Auburn-Opelika, AL

• One year change in cost of living: 5.92%
• Cost of living relative to national average: -4.10%

18. Fort Wayne-Allen County, IN

• One year change in cost of living: 5.91%
• Cost of living relative to national average: -6.60%

19. Toledo, OH

• One year change in cost of living: 5.82%
• Cost of living relative to national average: -1.20%

20. Bethesda-Gaithersburg-Frederick, MD

• One year change in cost of living: 5.77%
• Cost of living relative to national average: 34.50%

Top 20 Places With the Biggest Drop in Cost of Living

Places are ranked based on the relative change in costs between 2025 and 2024.

1. Meridian, MS

• One year change in cost of living: -3.98%
• Cost of living relative to national average: -15.6%

2. Orlando, FL

• One year change in cost of living: -3.77%
• Cost of living relative to national average: -9.4%

3. Cape Coral-Fort Myers, FL

• One year change in cost of living: -3.47%
• Cost of living relative to national average: -1.1%

4. Charleston-N Charleston, SC

• One year change in cost of living: -3.24%
• Cost of living relative to national average: -3.7%

5. Hutchinson, KS

• One year change in cost of living: -2.75%
• Cost of living relative to national average: -14.9%

6. Provo-Orem, UT

• One year change in cost of living: -2.60%
• Cost of living relative to national average: -2.5%

7. McAllen, TX

• One year change in cost of living: -2.54%
• Cost of living relative to national average: -19.0%

8. Tupelo, MS

• One year change in cost of living: -2.31%
• Cost of living relative to national average: -21.1%

9. Bismarck-Mandan, ND

• One year change in cost of living: -2.12%
• Cost of living relative to national average: -13.1%

10. Muskogee, OK

• One year change in cost of living: -2.03%
• Cost of living relative to national average: -18.0%

11. Winston-Salem, NC

• One year change in cost of living: -1.89%
• Cost of living relative to national average: -10.5%

12. Charlottesville, VA

• One year change in cost of living: -1.58%
• Cost of living relative to national average: -0.9%

13. Salt Lake City, UT

• One year change in cost of living: -1.46%
• Cost of living relative to national average: 4.9%

14. Oakland, CA

• One year change in cost of living: -1.40%
• Cost of living relative to national average: 32.6%

15. Temple, TX

• One year change in cost of living: -1.25%
• Cost of living relative to national average: -13.2%

16. Louisville, KY

• One year change in cost of living: -1.20%
• Cost of living relative to national average: -9.2%

17. Joliet-Will County, IL

• One year change in cost of living: -1.08%
• Cost of living relative to national average: -8.8%

18. Baton Rouge, LA

• One year change in cost of living: -1.03%
• Cost of living relative to national average: -10.3%

19. Enid, OK

• One year change in cost of living: -0.93%
• Cost of living relative to national average: -10.6%

20. Jacksonville, FL

• One year change in cost of living: -0.92%
• Cost of living relative to national average: -10.1%

Data and Methodology

Using data from the Council for Community and Economic Research (C2ER), SmartAsset compared relative cost of living data for essentials – including housing, utilities, transportation, medical costs and more – across 236 cities with available data. Average cost data for 2025 was compared to that of 2024 after adjusting relative cost rankings for inflation to determine the percent increase in dollars needed to cover the designated basket of essentials. Costs in relation to the national average are also evaluated.

Questions about this study? Contact us at press@smartasset.com

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