Top 10 Overpriced Places In The U.S.

Sure, housing is expensive in these top 10 cities, but what's driving the cost of living in many of these places through the roof is a lack of job growth and competitive salaries.
July 15, 2006, 7am PDT | Nate Berg
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Forbes Magazine recently released this list of the most overpriced places in America, and while there are some expected top-place finishers like New York, San Francisco, San Jose and Los Angeles, the title of the "most overpriced place in America" goes to a seemingly unlikely source.

Much to blame for making these places so overpriced is a serious lack of job growth and an ever-increasing cost-of-living. However, salaries remain high in some of the list's top-ranked cities. But with even higher cost-of-living expenses, many in the middle- and lower-classes can't keep up.

"San Jose, San Francisco and New York are all repeat offenders, having landed on our list for four consecutive years. Because we've improved our methodology this year, it's difficult to make a direct comparison with prior lists."

"But we do know that the three metros rank poorly in everything except the average salary ranking, where they place first, second and third, respectively. Many would argue that such places offer tremendous lifestyle benefits -- among them, high culture and active nightlife. But such things are hard to afford -- much less enjoy -- when basic living costs are so high. While there is no dearth of wealth in those areas, ordinary folk may be squeezed."

Also, for those tired of hearing about places they can't afford to live, check out the picture slideshow, "150 Cheap Places to Live Rich."

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Published on Thursday, July 13, 2006 in Forbes Magazine via MSN
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