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Shocker: New York Is Not the Most Overpriced US City

Dollar signs are often associated with New York City, and while nobody is arguing it's pricey, Forbes says the Big Apple is not the most overpriced.

Forbes factored together the average salary for residents with at least bachelor degrees, annual unemployment statistics, cost of living, and housing affordability based on local median income to determine the most overpriced cities in the US. Surprisingly, New York is not number one on this list. In fact, it's not even number two or three. Check out the 20 most overpriced cities below. Is your city on the list?

  1. Boston, MA and Warren, MI
  2. San Francisco, CA
  3. Jacksonville, FL
  4. St. Louis, Mo
  5. Orlando, FL
  6. Memphis, TN and Tampa, FL
  7. Portland, OR
  8. Philadelphia, PA

See the 10 most overpriced cities when you

.

  1. San Diego, CA and Newark, NJ
  2. Cleveland, OH
  3. Long Island, NY
  4. Riverside, CA
  5. Providence, RI
  6. New York City, NY
  7. Miami, FL
  8. Chicago, IL
  9. Los Angeles, CA

Source

Join The Conversation
kscincotta kscincotta 8 years
Does Long Island really count as a city? I mean, Long Island is big. ANd while the Hamptons may be incredibly overpriced, there are plenty of affordable places on LI as well.
carhornsinapril carhornsinapril 8 years
for the first anonymous--where on earth are you going out in new york that it costs you $18 for a cocktail? i think you're discounting a whole, whole lot of bars/clubs/eateries in your estimate of what's standard! also, i find it funny that long island is counted as a city, because it is really not a city, in any sense.
seryscarlett seryscarlett 8 years
I have to disagree with St. Louis being on the list. I think it's one of the most inexpensive cities to live in. I'm staying there until the economy gets better (tho who knows how long that will be) because it's so affordable.
hautepink hautepink 8 years
GREATTTT! I had a feeling LA was number 1. it's also probably number 1 for traffic, pollution, and ironically, trying to be green.
oh-lady-e oh-lady-e 8 years
Frankly, I'm surprised that Boston isn't further up on this list. Rent prices are ridiculous, and the public transportation system is a black hole for tax money.
aimeeb aimeeb 8 years
Not surprised Boston in up there...
jelibeann jelibeann 8 years
I'm surprised by Providence...I went to college there and lived in the city for 4 years...my husband and I (back on Long Island now) are seriously considering a move back to New England (he went to college in MA) and we were recently discussing how much more affordable my 2 bedroom apt there was than our 1 bedroom here...we make decent money, but not nearly enough to comfortably buy a home here, which is our ultimate goal...looking at comparable jobs, we could make less, but still improve our standard of living...it's sad that we feel required to move away from our families to have land and decent living space...luckily the condensed suburban living is getting to us, so we're looking forward to a change :)
Happsmjc Happsmjc 8 years
I def. agree--I wanted to attend law school in Chicago--but it was too overpriced/unrealistic for that reason! (It's still my fave city though!!)
colormesticky colormesticky 8 years
I second sweetstanzy. Not surprised to be #1.
Spectra Spectra 8 years
Providence, RI definitely doesn't surprise me. My husband had to go out there for a business trip and he was talking to one of the engineers in the company he was visiting out there. The guy was just out of school and made about as much as my husband was making at the time, but he was talking about buying a house and even the starter homes out there were like, $200,000. My husband brought back one of those real estate guides and we were amazed at how much everything cost, especially since it seemed that the general population didn't make any more money than us average joes in Wisconsin.
sweetstanzy sweetstanzy 8 years
I'm in Los Angeles and I'm not surprised. Salary just never matches the cost of living here, which includes owning a car and paying for gas on top of every other expense.
SDTransplant SDTransplant 8 years
I spent several years attending college in LA and could not have afforded it if it weren't for my parents' help. I think what kills people's expenses there is having to drive everywhere thanks to urban sprawl. I grew up in another town on the list (SD) and now live near Boston. Guess I'm drawn to costly places to live.
lilkimbo lilkimbo 8 years
Anon, the survey isn't about what's the most expensive city, it's about what's the most overpriced city. NYC may very well be more expensive than Chicago, but, apparently, people there make more. This is obviously not about visiting these cities, but about actually living there.
itsme3683 itsme3683 8 years
Hahaha I'm from LA and Chicago, I guess I just have expensive tastes?? LOL.
stargazer25 stargazer25 8 years
Dang my city is on the list and sort of surprised.
legalbeagle legalbeagle 8 years
I am definetly not surprised to see Boston in the top 20. The cost of living v. quality of life here is way out of proportion. Sure we have great sports teams but its wicked expensive to live and go out around here
ilanac13 ilanac13 8 years
YAY - this is good to know - that i don't live in the most expensive city. i used to live near miami which is even more.
gumdrops334 gumdrops334 8 years
Houston is super cheap...but then again, you get what you pay for ;)
lilkimbo lilkimbo 8 years
Interesting. This is so odd to me because I live in D.C. and EVERYTHING here is so much more expensive than in Cleveland, where I used to live. I guess it makes sense when you factor in the respective salaries, etc. of the cities.
jessy777 jessy777 8 years
I hope to move to NYC in a year and have been reading a lot about the local market and apparently it is slipping in terms of cost of living. It is predicted to rebound in about 5 years but hopefully I will already be there.
tameeka tameeka 8 years
NYC is not as expensive as people think. I'm not surprised it's number 4. The other top 3 cities were expensive. I guess you have to be a local to know the great inexpensive spots.
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