What are the 3 most expensive cities to buy a home in and how does it compare to the Metro East?
Bryan Vogt here! Almost anyone knows the price of buying a home has gone up dramatically not only in the metro-east but thru out the country. But what does a home cost in Manhattan or San Francisco compared to our market? I will tell you shortly, but I want to make sure you stay till the end of this episode because I will be offering my one-of-a-kind free home buying guide called 7 Essential tips for success in buying in 2022! Whether you’re planning on buying now or even thinking of buying! You are going to want this guide!
But first, let’s find out what are the three most expensive cities to buy a home in the United States? Let’s dig in!
#1 Manhattan New York is the most expensive city to buy a home in. How expensive? The median sales price is $1,600,000 But what does that get you? Not much! Compared to our market! Home at that price range would have a 3 or 4 car garage may be an inground pool with some acreage along with 6 7 or 8 thousand square feet of living space. In Manhattan not so much! No garage, acreage, pool, and it will be the size of a nice two-bedroom apartment in our market all for over a million and a half dollars!
#2 San Francisco California is in a close second to Manhattan. With a medium price of a home at $1,300,000 million dollars. But here’s the good news The Price per square ft is only $1100 compared to $1600 in New York! Compared to our market it would be like buying a 1200 sq ft starter home. However, in San Fran, you would only have 1 bath and 2 bedrooms. If you want a second bathroom and third bedroom plan on paying another 300 thousand for that in their market!
#3 San Jose California better known as Silicon Valley. With tech powerhouses such as eBay, Adobe, Hewlett Packard, and PayPal headquartered there. Makes buying a home rather expensive there. With the median price of a home just under 1 million dollars, you will need to budget accordingly. But here’s the great news. It’s only 700 dollars a square foot which means you could actually get a home almost twice the size of one in Manhattan!
Now many people say the reason why housing is so expensive on the coasts is that they make a lot more money per year than we do. And that’s true to appoint. In my research, I found that Manhattan’s medium salary is twice as high as it is in the St. Louis Metro east area. But the house cost 12 to 15 times more there than here. That doesn’t sound like a very fair trade to me. Plus, medium home prices are right around the 200 thousand range. Making the St Louis area still one of the top 10 least expensive places to live when buying a home even in this market!
And speaking of buying. I have personally put together a very powerful guide to help buyers win when it comes to buying in 2022. And if you have already tried and failed to buy a home then this guide is for you. I call it the 7 essential tips for buying in 2022. And I am offering it to you! Absolutely free. Just click on the link below even if you’re just considering buying! It has already helped countless clients of mine get their homes and I know it can greatly help you. Click on the link and get your free copy today!
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Until the next episode. Make it a great day!