However, many people prefer to live in smaller, more affordable towns and cities rather than in New York City or Los Angeles, which are two of the most expensive cities in the world to live in. Are these cities, on the other hand, truly living up to their reputations?? LendingTree recently conducted a study to determine the most expensive places to live in the United States, and the results may surprise you. Read on to find out more.
LendingTree conducted an analysis of data from the United States Census Bureau to determine the most expensive median home values in towns with populations between 10,000 and 50,000 people. It turned out that those cities had a lot of expensive real estate of their own, which in some cases even exceeded the average home price in major cities in terms of value.
According to a recent LendingTree study, the median home value in Vineyard Haven, Massachusetts, is $699,500. Jackson, Wyo., has topped the list of the most expensive cities to live in the United States for the second year in a row, with a median home value of $549,800, according to a new report.
As a result of Steamboat Springs’ ranking as the fourth best small town in America on the list of the best small towns in America, Colorado was included in the top ten for the second year in a row. The fact that people earn varying amounts of money is not taken into consideration in this data collection. Even when comparing home purchase prices to the national median income, Vineyard Haven and Breckenridge remain the most expensive places to live in the United States. However, the city of Hailey, Idaho comes in second in this instance.
LendingTree conducted a comparison of the 50 most expensive cities in the country with the 50 largest metro areas, and found that home prices were nearly identical in both cases. The median home price in each of the towns included in the LendingTree study was $268,258. The median price of a home in the country’s largest cities is $286,046, according to the Census Bureau.
Residents of small towns typically earn less money than their counterparts in urban areas, making it more difficult for them to purchase a house. According to a study conducted by LendingTree, the median household income in the nation’s most expensive cities is $61,122 per year. The median household income in the 50 largest metro areas is nearly $9,000 less than the national median household income.
The Most Expensive Real Estate Markets in the United States of America
- Vineyard Haven, MA
- Breckenridge, CO
- Jackson, WY
- Steamboat Springs, CO
- Hailey, ID
- Gardnerville Ranchos, NV
- Hood River, OR
- Juneau, AK
- Easton, MD
- Los Alamos, NM