The 10 major U.S. cities where housing costs have increased the most

However, many major cities have actually gotten cheaper. In Minneapolis, housing spending dropped 6.7% on average, followed by Baltimore with a 4.2% decrease and Chicago with a 3.7% decrease.

Regardless of location, housing costs take up a significant portion of city dwellers' paychecks. In 2017, the national average for income spent on housing was 27%, the report found. While that falls beneath, it still means many are spending above what is considered financially manageable. Residents of Los Angeles and Boston put an average of 31.8% and 30.5%, respectively, of their income toward housing in 2017, the report found. In New York City, residents spent an average of 29.6% of their income on housing, nearly exceeding the 30% mark.In order to afford city living, many have had to cut down on spending in other areas of life. Vacations, dining out and saving money are the top sacrifices city dwellers make, according to Rent.

Only 8% of survey respondents say they have to sacrifice nothing to afford their metropolitan lifestyle.Is the high cost of living in a major city worth it? Just over half of survey respondents say yes. Another 30.7% say no and 14.3% are neutral. But that doesn't mean city dwellers want to stay forever: 78% of respondents say they are open to moving at some point and 12.4% say they want to move away as soon as possible. Just 9.6% say they want to stay put for the rest of their lives.

When determining whether to live in a big city or somewhere cheaper, it ultimately comes down to your circumstances and priorities. If job security or

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