Here’s US’ most expensive city – and it’s not NYC or San Francisco
Here’s US’ most expensive city – and it’s not NYC or San Francisco : Cities like San Francisco and New York City – which are widely known for their expensive real estate – were ranked sixth and eleventh respectively
The US’ most expensive city is an unexpected city in California, US News reported. San Diego has been ranked as the country’s most expensive city, taking into consideration factors like quality of life, housing affordability and desirability, according to U.S. News & World Report’s Most Expensive Places to Live in the U.S. in 2023-2024 list.
Cities like San Francisco and New York City – which are widely known for their expensive real estate – were ranked sixth and eleventh respectively, which are far lower.
As many as 12 out of the 25 cities in the list are located in California, including three of the top five. Los Angeles and Santa Barbara came in second and fifth positions respectively.
The indexes are used for US News’ Best Places to Live survey. It took into account factors such as crime rate, quality of education, blended median annual household income, weather temperateness and unemployment rate.
The average home value in San Diego – $961,629 – is much higher than the average home value in the US, which is $348,539, according to Zillow. However, the average home value in San Francisco is at $1.3 million, which is higher than that of San Diego. Further, the median monthly rent in San Diego, which is $3,200, is also less than rent in less expensive cities. For example, the median rent in New York is almost $3,600 a month, and almost $3,500 in San Francisco, according to Zillow.
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