we live in the 3rd most expensive city in NA? (Minneapolis: rental, home)

[Citykid3785]

I can't even begin to imagine how this would be true:


Mpls. ranked third-priciest city in North America - StarTribune.com

It sounds as though housing was not included? Also no telling how each class of goods was weighted (which in theory would have weighted housing, transportation, food, and taxes the highest). I'd love to see the data on this, but anecdotally this does not match up with what I know. Places like Honolulu, Seattle, San Fran, Vancouver, and Toronto would all be higher.

[JONOV]

I wonder if it wasn't adjusted for income? Not that the Twin Cities don't have plenty of good paying jobs, but maybe not as many as places like San Francisco?

I will say, talking recently to my friend who used to live on my floor, he's told me rent has gone up a lot where I used to live (uptown,) and that its not significantly better moving further out into the burbs or less trendy locations/

[Tyryztoll]

That's a joke. No way.

[ima30something]

Nope, not true. Essentially every medium / larger coast city is more expensive once you factor in wages vs. cost of living.

[ellysbelly]

As someone who (as an executive recruiter) deals with relocations on the daily, this report is absolutely laughable-- virtually every major Canadian city (with the possible exception of Montreal) is FAR more expensive than MSP, not to mention many other mid-to-large sized US cities, especially San Francisco, DC, Seattle, Portland, Denver, the list goes on..

[Citykid3785]

They also claim that Seoul is the 6th most expensive city in the World.

I stayed there twice in the last year, in the middle of their most happening spot (think Times Square), in an air bnb on the subway line with wi-fi included for $69/night. Local style lunch meals cost $3-$6, a cab was 1/3 the price of the US. Airconditioned/wifi enable subway rides cost $1.25. If you REALLY wanted to splurge, you went out for Korean BBQ, which offered unlimited meats, veggies, and rice for $12-$15/person. To be fair, coffee and fruit were expensive, but those are peanuts when compared to food/housing/transportation. We actually walked away being amazed at how inexpensive it was.

[rogead]

Anyone who’s traveled North America realizes that this is a ludicrous notion. Virtually all major cities on both the east and west coasts are significantly more expensive than Minneapolis for a typical person, as are a couple of inland cites in the Midwest and West.

The explanation for the ranking lies in the methodology. The Economist ranking is essentially a list designed for upper middle class British expats. It doesn’t even take home prices into consideration. Instead, they assess the cost of high-end rental units, along with higher-end personal and domestic services.

[MidwestRedux]

Fake news.

Nothing to see here, just a good reminder not to believe everything you read.

[Googol]

Originally Posted by Citykid3785

..... you went out for Korean BBQ, which offered unlimited meats, veggies, and rice for $12-$15/person.....

Yummy ... That it self is worth the air ticket

[Thedosius]

The Economist study is geared towards high-level executives who likely will be renting, not buying, a home and its metrics include the cost of live-in domestic help and private school tuition. The basket of goods it measures does not and is not intended to speak to the general cost of living that most people experience. It may be very expensive to have a butler here in Minneapolis- I wouldn't know.