Jun 01, 2020

Top 10 most expensive places to live

luxury lifestyle
Bank of America
Real estate
Bizclik Editor
3 min
Top 10 most expensive places to live


1. New York, NY
More than 18 million people live in the tiny city making for an extremely populated New York City and making for an even more expensive real estate market. Housing costs are nearly four times more expensive than the national average, yet the actual square footage is just a fraction of what it’s worth when compared to other locales. Everything is pricier in Manhattan, from groceries, to hotel accommodations and entertainment. Average rent for an apartment is $2,800 and average real estate starts at a cool $1.8 million in the less affluent boroughs, according to real estate search site, Trulia. Average price per square foot for NYC is about $1,194, an increase of 7.3 percent since the same time last year. Popular neighborhoods include the Upper East Side and Upper West Side, with average listing prices of $2.5 million and $1.9 million.

2. Malibu, CA
Los Angeles is already brimful of celebrities and luxury, but Malibu gives the county a run for its money with average home prices going for $7.1 million. But how could you turn down the sunshine and hopes of running into residents like Pamela Anderson, Sting, Mel Gibson, and so many more.

3. White Plains, NY
Just a 30 minute drive from the big city, White Plains shows off the benefits of NYC but with a small-town feel. The city is known for its deep-rooted culture and its downtown area features great shopping. The pricey real estate options are perfect for those who work at area businesses like Nokia, Heineken USA, AT&T and Verizon.

4. Chicago, IL
More than 2.8 million people call Chicago home, making it the 3rd most populated city in the U.S. Chicago is known for its tallest buildings and real estate also backs up the upscale territory with homes going for half a million. Businesses that call Chicago home include Harpo Studios, Boeing, General Electric, Groupon, and more.

5. San Francisco, CA
With so many nooks and crannies to unearth in the City by the Bay, San Francisco is located close enough to Silicon Valley and many important tech headquarters to top our list. Pricey cocktails, dining, shopping and entertainment also make SF one of the most expensive cities in the nation.

6. Miami, FL
Who knew the home of Disney World and Shamu would also be the second or third home of famous celebrities like Enrique Iglesias, Anna Kornikova, Oprah, Whitney Houston, Shaq, Cher and so many more. The night life and beach bodies all year round definitely help to make Miami a destination for the rich and luxurious.

7. Honolulu, HI
Island paradise – in the U.S. Honolulu is where tourists go to sip on Mai Tai’s and residents pay too much for continuous tranquility and imported goods – and 55 percent more for living expenses compared to the rest of the nation.

8. Washington, D.C.
There are a number of communities in Washington D.C. and home prices start anywhere from half a million to more than $4 million in uber affluent, Embassy Row. The area boasts a low 6.9 percent unemployment rate and area employers include federal government, SAS, Lockheed Martin, Fannie Mae, and others.

9. Boston, MA
Boston is not only rich in history, but also rich in real estate. Major employers include local schools and universities, biotech companies, and brands like Fidelity Investments, Liberty Mutual, Bank of America’s headquarters, Gillette, New Balance, and others.

10. Aspen, CO
The rich and the famous call Aspen their winter getaway but residents are managing to pay $2.6 million for the average home in the mountains. Luxurious ski resorts and high-end retailers make living easier, so long as you can stay on top of your mortgage.


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