10 U.S. Cities Seeing Huge Increases in Cost of Living

A recent survey from GOBankingRates identified 10 U.S. cities where cost of living has grown by more than 27 percent in the last year.

The increases come as cost of living nationwide has risen 14 percent in the last three years, CNBC reports. To determine affordability, GOBankingRates calculated that no more than 50 percent of income should be used for necessities, including rent.

The income needed to live comfortably in Colorado Springs, Colo., rose 36 percent in the last year to $67,011, more than any other city in the survey. It was followed by Columbus, Ohio, Fresno, Calif., and Arlington Texas., which each rose 31 percent. Six other cities experienced growth over 27 percent since 2017.

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