California is officially one of the most expensive places to live in the U.S.

Oct 12, 2023

NYC moves down the list as this most expensive place to live in the U.S.

New York and Los Angeles have long been known for their sky-high home prices. But, despite years as the priciest zip codes in the country, another metro is dominating, at least from a pricing perspective.

Consider this: in the average U.S. city, $1 buys about 1.07 square inches of property. In New York, San Francisco, two of the most expensive places to live in the U.S., $1 buys about 0.14-0.28 square inches of property.

Another way to look at things? How much it would cost to buy another property to fit a single king-size mattress—about 42-square-feet—and that’s it. Old Palo Alto, the current most expensive place to live in the U.S. per square foot, that same property goes for about $89,460 (as of 2024)—again, just enough to fit a king-size mattress.

To put that number in perspective, in Williamsburg—one of the most sought-after neighborhoods in Brooklyn—that same space is about $51,200 (as of January 2024). In New York City’s West Village expect to pay about $102,000 for 42-square feet and about $91,000 in Soho (according to StreetEasy data from December 2023).

California, though, couldn’t be beaten, holding seven of the top 10 spots of this high-priced roundup. Neighborhoods cracking the top 10 include Beverly Hills Gateway, at #4, and hotspots such as Belair and Trousdale Estates.

Again, this is a major shift considering just 10 years ago, the 20 most expensive places to live in the U.S. were all in New York, with the West Village ranking as the priciest of the pricey. Today two—Brooklyn and Manhattan—made the top 10. Other pricy NYC digs include Tribeca ($2.1k/square foot), Greenwich Village ($1.8k/square foot), and Flatiron ($1.7k/square foot) (Redfin).

Let’s face it—it’s all about the TOWN, not just the house. Start exploring suburbia like a pro. Contact us to learn more and schedule your free Suburbs Strategy session.

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