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Here's what $100 is worth in each state. DC takes the top spot for most expensive. For comparison, Hawaii, which has always been known to be VERY expensive to live, comes in under DC at $85.32!
From most expensive to least expensive (Entire state is taken into account, NOT metro areas, except DC of course):
It doesn't take a genius to realize that a city like DC is going to tend to be more expensive than an entire state.
Of course DC is still one of the most expensive cities, behind but up there with New York City and San Francisco. But that's already commonly known. This study gives us no illuminating information as it pertains to DC because DC is an orange in a sea of 50 apples in this study.
I think DC will be more expensive, on average, than SF within the next 5 years because of all the gentrification and other changes that are going on here. I don't think it will surpass NYC within the next 5 years but I wouldn't be surprised if it did within the next 10 years.
It doesn't take a genius to realize that a city like DC is going to tend to be more expensive than an entire state.
Of course DC is still one of the most expensive cities, behind but up there with New York City and San Francisco. But that's already commonly known. This study gives us no illuminating information as it pertains to DC because DC is an orange in a sea of 50 apples in this study.
It actually is illuminating. Hawaii is consistently ranked one of the top 5 most expensive areas in the nation. Alaska also is for that matter.
The fact that DC is more expensive is actually pretty notable.
It actually is illuminating. Hawaii is consistently ranked one of the top 5 most expensive areas in the nation. Alaska also is for that matter.
The fact that DC is more expensive is actually pretty notable.
Not surprising to me at all and completely what I would have guessed, so tells me nothing new. Alaska and Hawaii include lots of very small, poor towns that are of course going to be much cheaper than a major city. So while Honolulu is more expensive than DC according to cost-of-living calculators I've seen, the state as a whole is still cheaper than DC.
Oahu and Maui might be expensive but on the island of Molokai, for example, you can buy a cheap house.
From my understanding, the Washington DC area is overall the 3rd most expensive in the United States after New York City and San Francisco. I think it's tied with Los Angeles.
But DC is nowhere near as expensive as a city like London.
Unless DC attracts more for-profit corporations, financial firms, top tier management consultant firms, etc. who want to move their headquarters to DC or just add lots of workspace and a generous workforce DC will never be as expensive as London, NYC, Hong Hong, Tokyo, etc. DC is full of government employees, contractors, and consultants who pull in generous wages (let's call it $70,000-$120,000) for average annual compensation purposes. At these wages who can afford multi-million dollar properties and Manhattan rents? As it is DC is extremely expensive and to live in this city at the current average wages means you will definitely pay out more than 30% of your income on living expenses or you'll have to live in less desirable areas of DC or move out to the burbs to make it work. I'm not saying their aren't outliers here in DC who make a ton of money and could afford to live in Manhattan, London, etc. because their are but it's usually people at the top of their organizations, own their own successful companies and are "in" with the right people in the area, are wealthy bureaucrats, etc.
Your extremely expensive cities like London, NYC, and Hong Kong have a huge amount of financial firms, for-profit multinationals, and a huge proportion of successful businesspeople and entrepreneurs (tech and non-tech). You don't have that in a city like DC. I would consider DC to be middle-upper class based on average wages. If we are able to attract more for-profit multinationals and start-ups I think we can get to the London, NYC, and Hong Kong levels of high rents in the distant future.
Last edited by RLCMA; 08-20-2014 at 01:29 PM..
Reason: Missed a word
From my understanding, the Washington DC area is overall the 3rd most expensive in the United States after New York City and San Francisco. I think it's tied with Los Angeles.
But DC is nowhere near as expensive as a city like London.
DC is definitely more expensive than LA. Significant difference in housing and food costs.
It actually is illuminating. Hawaii is consistently ranked one of the top 5 most expensive areas in the nation. Alaska also is for that matter.
The fact that DC is more expensive is actually pretty notable.
Anytime an entirely urban 66 Square Mile stretch of CITY is compared with an ENTIRE STATE, the statistics are worthless. DC will ALWAYS be at the top or bottom of every list that compares it to states.
Try comparing NYC to DC and not NY to DC and then get back to me.
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