Over the past few years, inflation has hit record highs, causing the cost of living to soar in various regions across the country. Even metropolitan cities have not been spared, particularly in terms of skyrocketing real estate and rental prices. With this in mind, individuals seeking to relocate are turning their attention to places where they can save money. This includes the most affordable areas in Colorado, which have become increasingly popular among Americans looking to reduce their living expenses.
According to a recent report by U.S. News & World Report, there are 25 cities in the United States that are deemed the most costly to live in. The rankings were based on the median gross rent and annual housing costs for individuals who own homes with mortgages in each metropolitan area.
Denver, also known as the Mile High City, is one of the two Colorado destinations that made it to the list. It holds the highest ranking, securing the No. 16 spot. The website reported that the average home price in Denver is $658,554, while the median monthly rent is $1,554. Meanwhile, Boulder also made it to the list, landing on the No. 23 spot.
The Western states have clearly dominated the Top 10 list, with California leading the way and clinching the top position thanks to San Diego. It’s interesting to note that a vast majority of the entries on the list are from the Western region.
The following are the top 10 most costly places to reside in the country:
- San Diego, California
- Los Angeles, California
- Honolulu, Hawaii
- Miami, Florida
- Santa Barbara, California
- San Francisco, California
- Salinas, California
- Santa Rosa, California
- San Juan, Puerto Rico
- Vallejo & Fairfield, California
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