Steaks are expensive — whether you buy them at the grocery store or at a restaurant. Steak is often the most expensive item on a restaurant’s menu, and steakhouses are some of the most expensive restaurants.
However, the average price of a meal at a steakhouse varies considerably across the country. A meal — an entree, a drink, and the tip — at Cut, a high-end steakhouse in Beverly Hills, costs $106 on average, the highest in the country. Of the 380 steakhouses reviewed, the least expensive was Clyde’s Prime Rib Restaurant in Portland, Oregon, where a typical meal costs $26. Using Zagat, a restaurant-reviewing service, 24/7 Wall St. identified the 25 most expensive steakhouses in the country.
The most expensive steakhouses are clustered in particular areas. In fact, just nine cities are home to the 25 most expensive steakhouses. Six of the 25 restaurants are located in Las Vegas, a city renowned for indulgence. Another eight steakhouses are located in New York City, one of the most expensive cities in the country.
While Las Vegas is a popular tourist location, it is also a popular destination for world-renowned chefs. Wolfgang Puck and Jean Georges Vongerichten, for example, were top tier chefs in the United States and France, respectively, before they opened restaurants in Sin City.
The city where a restaurant is located plays a role in determining the restaurant’s cost. In fact, the cost of living in the four metro areas with the majority of the most expensive steakhouses —- the Los Angeles, New York City, San Francisco, and Washington D.C. areas — is nearly 20% higher than across the country.
The quality of the beef is an important consideration for many of the most expensive steakhouses. At least four of these steakhouses serve wagyu beef, meat from a breed of cow known for its tenderness. The menu at Doris Metropolitan, the second most expensive steakhouse located in New Orleans, lists a 10-ounce wagyu striploin for $175.
While many may consider the steakhouse a unique feature of American culture, many of the most expensive steakhouses are heavily influenced by other cuisines. The top 25 steakhouses feature Japanese, South American, Mediterranean, French, and Italian cuisines.
When reviewing a restaurant, Zagat rates the restaurant’s food, decor, and service, each on a scale of 0 to 30. A rating higher than 25 indicates that the restaurant’s performance in a particular category ranges from extraordinary to perfection. Ten of the most expensive steakhouses in the country received at least a 25 in every category.
For many diners, steak quality is the most important aspect of the overall restaurant experience. The food at 21 of the most expensive steakhouses received a rating of 25 or higher. Prime Steakhouse and SW Steakhouse, both in Las Vegas, each received a food quality rating of 27 out of 30, the second best rating awarded to any expensive steakhouse. However, high prices do not guarantee food quality. Three of the most expensive steakhouses received a food quality rating of 23 or lower.
In addition to the food, the overall experience of a restaurant is often just as important. More than half of the most expensive steakhouses received a service rating of 25 or higher, indicating that extraordinary service accompanies the high priced meal at these establishments.
24/7 Wall St. reviewed the 25 restaurants with the highest average meal prices from Zagat, which provided data for steakhouses in 34 major cities across the country. A meal includes an entree, one drink, and gratuity. Also from Zagat, we considered restaurants’ ratings for service, food quality, and decor. All ratings are out of 30. Regional price parity, a proxy for cost of living, comes from the Bureau of Economic Analysis, and is for 2012.
These are the most expensive steakhouses in the country.