There are many factors leading to the increase in housing costs across the U.S., including rising interest rates and even remote work. And the first year of homeownership in particular can be especially costly between a down payment, closing costs, mortgage payments, homeowners insurance and property taxes.

New data from SmartAsset reveals how expensive the first year of homeownership typically is in major U.S. cities. Unsurprisingly, those looking to own a home in a large city start at a disadvantage due to the high home values in these areas. 

SmartAsset looked at data for the 20 largest cities in the U.S., specifically considering two categories: upfront costs and annual recurring costs. 

For upfront costs, SmartAsset assumed a 20% down payment on a median-priced home, using data from Zillow, as well as average closing costs, excluding escrow and any pre-paid expenses. Annual recurring costs include mortgage payments, average property tax and homeowners insurance. The data also assumes a 30-year fixed rate mortgage with a 6% interest rate.

These are the 10 cities where the first year of homeownership is the most expensive:

1. San Francisco

Down payment: $316,439

Annual mortgage cost: $91,066

First year total cost: $426,997

2. San Jose, California

Down payment: $288,955

Annual mortgage cost: $83,157

First year total cost: $391,935

3. Los Angeles

Down payment: $193,199

Annual mortgage cost: $83,157

First year total cost: $263,999

4. San Diego

Down payment: $192,376

Annual mortgage cost: $55,600

First year total cost: $263,999

5. Seattle

Down payment: $190,589

Annual mortgage cost: $54,848

First year total cost: $261,495

6. New York

Down payment: $152,304

Annual mortgage cost: $43,831

First year total cost: $231,918

7. Boston

Down payment: $146,771

Annual mortgage cost: $42,238

First year total cost: $201,833

8. Austin, Texas

Down payment: $132,476

Annual mortgage cost: $38,125

First year total cost: $191,611

9. Denver

Down payment: $125,318

Annual mortgage cost: $36,064

First year total cost: $173,137

10. Phoenix

Down payment: $84,095

Annual mortgage cost: $24,201

First year total cost: $116,403

If you’re interested in owning a home in one of these costly places, the first thing to do is “[question] whether or not it makes sense to move to an expensive city if your income can’t support it,” says Douglas Boneparth, a certified financial planner and president and founder of Bone Fide Wealth.

Additionally, ask yourself if what the city offers is enough to “justify the inherently higher costs” of living there.

It’s important to know where you stand financially, especially in terms of what you make and what you spend, Boneparth says.

“If you’re moving to a place that’s inherently more expensive, and that’s where you have to be or want to be or a combination, there’s never a bad time to understand where your money is going and what you’re spending your money on,” he says.

If you want to be able to put more money toward housing, you can start by cutting your everyday expenses, such as spending less on food and taking fewer vacations.

But be aware that “if you cut too many expenses, you’re going to start to feel more and more uncomfortable,” Boneparth says. “At some point you have to be able to say, ‘Am I so uncomfortable that living here is not even worth it?'”