Friday, April 5, 2013

Most Expensive Cities to Live in


While some people may be looking for some of the most affordable areas, others may be tempted by pricier metropolitan areas. There are plenty of places around the country that are considered expensive to live in for the average person, but some of these cities may be perfect fits for you, as they are often centers for commerce and culture. Keep in mind that just because the city is one of the more expensive to live in, you may not have to price it out of your budget. There could be deals lying around that make it possible to bring your moving boxes to one of these places.

New York City
The Big Apple is thought of by many as an expensive city, and living costs can be higher than most other places. Much of this is due to the high cost of living in Manhattan, Brooklyn and Queens. An average home in Manhattan costs more than $1.3 million, according to the Cost of Living Index from ACCRA. Brooklyn is just under $1 million, while Queens is higher than $630,000. If you are planning to get a haircut in one of these three boroughs, you could be spending around $20.

Boston
While not as expensive as New York City, Boston can still be a high-cost place to live. A haircut in the city averages more than $15, according to the Cost of Living Index from ACCRA. Also, the median home price in the city is nearly $460,000. Despite this, there are still affordable sections of town, and renting is popular among many in the city. Areas such as Dorchester and Allston may be good spots for those who plan to rent, but don't want to break the bank.

San Francisco
The Silicon Valley area is a world center for the tech industry, and this has made it quite popular for many people to move to the area. One city that has seen an influx of interest is San Francisco, and this shows up in the local home prices. The median home sales price in the city is more than $746,000, according to Zillow. This can make some areas of the city quite expensive. The demand is high to move to this city, and much of the same is true for nearby areas such as San Jose.

Honolulu
This may not be as much of a surprise as some of the other cities on the list, but it can be quite pricey to live in Honolulu. The capital of Hawaii is one of the more expensive cities in the country, and despite major issues during the economic downturn, home prices remain elevated. It can cost more than $430,000 for a home in the city, according to Zillow. However, the high price of living in the city has a good trade-off, as it is quite temperate in Hawaii, and there is always plenty to do.

Washington, D.C.
The nation's capital is also a city with a high cost of living. Those who live in the District deal with prices similar to parts of New York City and Boston. The average haircut will set you back more than $16, according to the Cost of Living Index from ACCRA. Home prices approach a median of $750,000 in this area, as well. Like many of the cities on this list, renting is a popular option for some, which can be a good way to better afford the city. There are also many places outside of the city that are not as pricey, and commuting is possible.

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