Why is San Diego the most expensive US city? Check criteria and rankings of other places
San Diego has emerged as the surprising frontrunner for the year 2023-2024, according to the U.S. News & World Report's list of the Most Expensive Places to Live. This coveted ranking reflects the considerable financial commitment that living in this picturesque city entails.
The Metrics Behind the Rankings U.S. News & World Report calculates this list based on specific criteria, which include median gross rent and annual housing costs for those with mortgages. The central theme that emerges from this comprehensive evaluation is the substantial wealth required to sustain a comfortable existence in these locales.
Evaluating Living Costs and More
Notably, home prices in San Diego surpass the national median sale price, a contributing factor to its high ranking. Additionally, many residents in San Diego's downtown region must contend with homeowners association fees for the upkeep of housing complexes.
The «Sunshine Tax»
While San Diego offers a year-round temperate climate and a lifestyle many cherish, it comes at a price. The report underscores that «living in San Diego is not particularly affordable.» Despite these elevated living costs, San Diegans appear willing to pay the premium, often affectionately referring to the disparity in cost of living as the «sunshine tax.»
A California Dominance
Unfolding as a notable trend, the report reveals that California plays a significant role in the nation's costliest cities. San Diego secures the top position, followed by Los Angeles, Honolulu, and Miami. California cities account for seven of the top ten slots and half of the top 25. Remarkably, even cities recognized for their expensive real estate like San Francisco and New York City hold lower rankings at sixth and
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