The average cost of living for an American [edit]. 1  $20,194 per person per year according to Bureau of Labor Statistics (value given divided by 2.5 average household size ('consumer unit') - [1]. Bureau of Labor Statistics - $2577/person/year - [2]. 2  Almost half of this is eating out. 3  $150/week/2.6 household = $230 per month. 4  $2700/year according to [3].