Cost of Living

The US cost of living varies dramatically by location — Manhattan costs 2–3× more than a mid-size city like Austin or Raleigh. Housing is the largest expense, followed by healthcare and transportation. Day-to-day costs (groceries, dining, entertainment) are moderate by developed-world standards, though tipping culture adds 15–25% to most service expenses.

Rent is the single largest expense for US expats and varies enormously by city. The national average for a one-bedroom apartment is $1,737/month, but in NYC or San Francisco, expect to pay $2,700–$4,000+ for the same apartment. The South and Midwest offer dramatically lower rents, often 40–60% less than coastal cities.

Opening a US bank account is one of your first tasks upon arrival. Most major banks allow account opening with a passport and US address — you don't need a Social Security Number (SSN) to open an account, though you'll need an ITIN or SSN eventually for tax purposes. Building US credit history from scratch is important and should start immediately.

The US has a progressive federal income tax system (10–37%) plus state and local taxes that vary dramatically by location. Florida and Texas have no state income tax; New York and California add 4–13%+ on top of federal taxes. Tax filing is annual (due April 15) and is more complex than in most countries. Most expats use a tax professional or software like TurboTax.

Many expats need to send money to family abroad or maintain accounts in their home country. Traditional bank wires are expensive (3–5% in fees and poor exchange rates). Modern services have dramatically reduced transfer costs and speeds.