Miami surpasses Los Angeles to become the second most expensive place to live in the United States, and New York still ranks first

“Yesterday’s price is not today’s price”, at least not Miami.

according to report, New York is the place with the highest cost of living, and Miami ranks second.

Based on the October 2021 Housing Affordability Index Report Hao Real Estate, Miami’s real estate market has grown substantially. So that it is now the second lowest cost of living in the U.S. @local10news report.

In September of this year, Miami ranked third, second only to Los Angeles, but the situation seems to have changed. According to the report, the median income in Miami is $39,049, and the median income in houses is $549,000.

“Miami surpassed Los Angeles to become the second most expensive housing market in the United States, although prices have fallen slightly since our last report,” the report said. “A family in Miami should expect to pay $2,653 a month in the cost of home ownership, which is about 81.55% of the median income.”

When COVID affected the country, many people subsequently left the West Coast and moved to areas such as Miami.

As for other expensive places — Newark, New Jersey and Long Beach, California — are among the top five most expensive places to live.

Some of the most affordable cities are Wichita, Kansas, Detroit, Michigan, Fort Wayne, Indiana, Virginia Beach, Virginia, and Anchorage, Alaska.