The most expensive cities in America

In the midst of the recession, New Yorkers are cutting back on everything from dining to luxury shopping. Café des Artistes, one of the Big Apple's most storied restaurants, closed in August, in part because of poor business. Chanterelle followed this month. In July, J.C. Penney opened its first Manhattan location, citing local demand for discount merchandise. These changes makes sense. New York tops a recent list of America's most expensive cities, with a measured cost of living surpassing that of Houston, Boston and Washington, D.C. The culprit? High rent: $4,300 a month on average for a two-bedroom, unfurnished luxury...

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