The most expensive U.S. cities are usually expensive for a reason. Residents pay higher living costs in exchange for favorable geography, climate, culture or economic prosperity -- or all of the above. In some cases, however, simple remoteness plays a role. Longer supply lines often translate into higher prices for goods.

To determine just how much the most expensive U.S. cities can really cost, we turned to the latest data from the Council for Community and Economic Research. Its Cost of Living Index measures prices in 270 urban areas for housing, groceries, utilities, transportation, health care, and miscellaneous goods and services (such as getting your hair done or going to a movie). We also gathered data on household incomes, home values and unemployment rates for each city to provide additional insights into the true cost of living for typical residents. Take a closer look at the 20 most expensive U.S. cities.

20. Fairbanks, Alaska

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Everything is more expensive in Alaska. Indeed, tiny Fairbanks is the first of three cities in the The Last Frontier State to make the list of America's priciest places to live. Alaska's remote location is to blame. On the plus side, when it comes to the highest concentration of millionaire households in the U.S., thanks in no small part to its oil wealth. Unfortunately, a three-year-long statewide recession, which is projected to end in 2019, gives Fairbanks a comparatively high unemployment rate even as its citizens get no relief from high prices. Groceries are more than 25% above the U.S. national average, according to the Council for Community and Economic Research's Cost of Living Index. Health care is 50% pricier