Yahoo Finance The Most Expensive Suburbs in Every State
The best suburbs in America have a combination of appealing characteristics, including nice homes and great amenities. Of course, these desirable features come with a price tag — in some cases, an exorbitant one.
To find the best suburbs in every state, GOBankingRates conducted a comprehensive study analyzing the cost of living in suburban areas surrounding the biggest cities across the country. Factors in this study included:
Median home list price and median monthly rent, sourced from Zillow’s January 2023 index
Annual cost of living expenses, sourced from the Bureau of Labor Statistics’ 2021 Consumer Expenditure Survey and Sperling’s Best Places
Non-housing necessities reviewed were food prepared at home, healthcare, utilities and transportation. Suburbs considered in the study have a population between 10,000 and 100,000.
The factors were scored and ranked from best to worst for each Metropolitan Statistical Area in all 50 states to learn The Most Expensive Suburbs in Every State. Note that Montana, Vermont and Wyoming did not have enough qualifying cities to rank the state. Some states had too few suburbs to choose from, limiting them to only one on the final list, while some states had such a far and away most expensive it felt unequal to highlight any other suburb.
Read More: Barbara Corcoran Says, ‘Forget About Florida,’ Move Here for Cheap Homes
Check Out: Housing Market 2024: Zillow Predicts 5 Hottest Home Trends That Homebuyers Will Be Looking For
In all, 10 suburbs on the list had median home list prices exceeding $2 million. Three of them came in at less than $300,000. Take a guess before you thumb through the results to see if you can guess the states with the most and least affordable suburbs.
Here’s a look at the most expensive suburbs in America on a state-by-state basis. For each state, suburbs are ranked in order from most expensive to least expensive.
Alabama
Homewood
Metro area: Birmingham-Hoover
Median home list price: $487,623
Monthly median rent: $1,904
Combined cost of non-housing necessities: $21,015.60
Vestavia Hills
Metro area: Birmingham-Hoover
Median home list price: $506,963
Monthly median rent: $1,621
Combined cost of non-housing necessities: $21,210.09
Read Next: 10 Things Frugal People Always Do When They First Buy a House
Explore More: 5 Types of Homes That Will Plummet in Value in 2024
Sponsored: Owe the IRS $10K or more? Schedule a FREE consultation to see if you qualify for tax relief.
Alaska
Wasilla
Metro area: Anchorage
Median home list price: $341,677
Monthly median rent: $1,917
Combined cost of non-housing necessities: $25,874.14
Check Out: Housing Market 2024: Avoid Buying a Home in These 4 California Cities
Arkansas
Bella Vista
Metro area: Fayetteville-Springdale-Rogers
Median home list price: $313,467
Monthly median rent: $1,738
Combined cost of non-housing necessities: $19,677.04
Bentonville
Metro area: Fayetteville-Springdale-Rogers
Median home list price: $417,422
Monthly median rent: $1,585
Combined cost of non-housing necessities: $19,053.54
Arizona
Paradise Valley
Metro area: Phoenix-Mesa-Chandler
Median home list price: $2,981,603
Monthly median rent: $8,311
Combined cost of non-housing necessities: $21,666.43
Sedona
Metro area: Prescott Valley-Prescott
Median home list price: $896,153
Monthly median rent: $2,616
Combined cost of non-housing necessities: $21,561.43
California
Malibu
Metro area: Los Angeles-Long Beach-Anaheim
Median home list price: $3,726,070
Monthly median rent: $11,462
Combined cost of non-housing necessities: $24,969.86
Beverly Hills
Metro area: Los Angeles-Long Beach-Anaheim
Median home list price: $5,363,305
Monthly median rent: $4,231
Combined cost of non-housing necessities: $23,709.16
Colorado
Evergreen
Metro area: Denver-Aurora-Lakewood
Median home list price: $889,966
Monthly median rent: $3,083
Combined cost of non-housing necessities: $21,178.93
Greenwood Village
Metro area: Denver-Aurora-Lakewood
Median home list price: $1,478,883
Monthly median rent: $2,147
Combined cost of non-housing necessities: $20,424.04
Connecticut
Greenwich
Metro area: Bridgeport-Stamford-Norwalk
Median home list price: $2,043,465
Monthly median rent: $4,088
Combined cost of non-housing necessities: $25,634.19
Fairfield
Metro area: Bridgeport-Stamford-Norwalk
Median home list price: $759,687
Monthly median rent: $3,533
Combined cost of non-housing necessities: $25,547.53
Trending Now: 5 Places in Florida Where Home Prices Are Still Cheap
Delaware
Bear
Metro area: Philadelphia-Camden-Wilmington
Median home list price: $368,203
Monthly median rent: $2,037
Combined cost of non-housing necessities: $22,152.30
Florida
Bal Harbour
Metro area: Miami-Fort Lauderdale-Pompano Beach
Median home list price: $5,133,421
Monthly median rent: $8,101
Combined cost of non-housing necessities: $23,746.20
Palm Beach
Metro area: Miami-Fort Lauderdale-Pompano Beach
Median home list price: $11,026,898
Monthly median rent: $6,419
Combined cost of non-housing necessities: $22,910.96
Georgia
Milton
Metro area: Atlanta-Sandy Springs-Alpharetta
Median home list price: $817,927
Monthly median rent: $2,133
Combined cost of non-housing necessities: $21,994.39
Druid Hills
Metro area: Atlanta-Sandy Springs-Alpharetta
Median home list price: $782,068
Monthly median rent: $2,011
Combined cost of non-housing necessities: $21,633.88
Hawaii
Haleiwa
Metro area: Urban Honolulu
Median home list price: $1,592,470
Monthly median rent: $4,750
Combined cost of non-housing necessities: $28,112.44
Kailua
Metro area: Urban Honolulu
Median home list price: $1,494,386
Monthly median rent: $3,414
Combined cost of non-housing necessities: $26,740.12
Idaho
Eagle
Metro area: Boise City
Median home list price: $793,605
Monthly median rent: $2,402
Combined cost of non-housing necessities: $19,549.50
Star
Metro area: Boise City
Median home list price: $561,392
Monthly median rent: $2,132
Combined cost of non-housing necessities: $20,015.52
Illinois
Winnetka
Metro area: Chicago-Naperville-Elgin
Median home list price: $1,394,859
Monthly median rent: $1,750
Combined cost of non-housing necessities: $22,588.24
Wilmette
Metro area: Chicago-Naperville-Elgin
Median home list price: $773,550
Monthly median rent: $3,075
Combined cost of non-housing necessities: $21,924.16
Read Next: 7 Safest and Cheapest Cities To Live in Florida
Indiana
Zionsville
Metro area: Indianapolis-Carmel-Anderson
Median home list price: $552,398
Monthly median rent: $1,764
Combined cost of non-housing necessities: $20,139.35
McCordsville
Metro area: Indianapolis-Carmel-Anderson
Median home list price: $335,333
Monthly median rent: $2,068
Combined cost of non-housing necessities: $20,285.22
Iowa
Johnston
Metro area: Des Moines-West Des Moines
Median home list price: $368,701
Monthly median rent: $1,345
Combined cost of non-housing necessities: $19,041.67
Waukee
Metro area: Des Moines-West Des Moines
Median home list price: $348,959
Monthly median rent: $1,398
Combined cost of non-housing necessities: $19,167.15
Kansas
Leawood
Metro area: Kansas City
Median home list price: $639,969
Monthly median rent: $1,836
Combined cost of non-housing necessities: $20,363.41
Fairway
Metro area: Kansas City
Median home list price: $516,043
Monthly median rent: $2,038
Combined cost of non-housing necessities: $19,955.12
Kentucky
Prospect
Metro area: Louisville/Jefferson County
Median home list price: $608,069
Monthly median rent: $2,393
Combined cost of non-housing necessities: $20,521.70
Independence
Metro area: Cincinnati
Median home list price: $267,733
Monthly median rent: $1,959
Combined cost of non-housing necessities: $21,012.05
Louisiana
Elmwood
Metro area: New Orleans-Metairie
Median home list price: $541,940
Monthly median rent: $1,853
Combined cost of non-housing necessities: $21,076.66
Prairieville
Metro area: Baton Rouge
Median home list price: $291,517
Monthly median rent: $1,899
Combined cost of non-housing necessities: $22,443.22
Learn More: I’m a Real Estate Agent: 5 Cities Where Homes Will Be the Best Bargains in 2024
Maine
Old Orchard Beach
Metro area: Portland-South Portland
Median home list price: $428,498
Monthly median rent: $1,850
Combined cost of non-housing necessities: $20,230.25
Maryland
Potomac
Metro area: Washington-Arlington-Alexandria
Median home list price: $1,177,319
Monthly median rent: $3,460
Combined cost of non-housing necessities: $23,201.01
Chevy Chase
Metro area: Washington-Arlington-Alexandria
Median home list price: $1,434,266
Monthly median rent: $2,393
Combined cost of non-housing necessities: $23,886.46
Massachusetts
Brookline
Metro area: Boston-Cambridge-Newton
Median home list price: $1,991,540
Monthly median rent: $3,928
Combined cost of non-housing necessities: $23,120.02
Needham
Metro area: Boston-Cambridge-Newton
Median home list price: $1,277,428
Monthly median rent: $3,684
Combined cost of non-housing necessities: $22,757.76
Michigan
Birmingham
Metro area: Detroit-Warren-Dearborn
Median home list price: $655,889
Monthly median rent: $2,255
Combined cost of non-housing necessities: $20,311.45
West Bloomfield
Metro area: Detroit-Warren-Dearborn
Median home list price: $416,579
Monthly median rent: $2,294
Combined cost of non-housing necessities: $20,975.39
Minnesota
Wayzata
Metro area: Minneapolis-St. Paul-Bloomington
Median home list price: $772,664
Monthly median rent: $3,139
Combined cost of non-housing necessities: $19,988.80
Lilydale
Metro area: Minneapolis-St. Paul-Bloomington
Median home list price: $543,128
Monthly median rent: $2,070
Combined cost of non-housing necessities: $19,902,93
For You: I Retired Early: Why Real Estate Investing Was the Secret to My Success
Mississippi
Madison
Metro area: Jackson
Median home list price: $358,131
Monthly median rent: $1,894
Combined cost of non-housing necessities: $19,876.59
Olive Branch
Metro area: Memphis
Median home list price: $313,991
Monthly median rent: $2,127
Combined cost of non-housing necessities: $19,890.89
Missouri
Clayton
Metro area: St. Louis
Median home list price: $914,295
Monthly median rent: $1,632
Combined cost of non-housing necessities: $19,737.86
Ballwin
Metro area: St. Louis
Median home list price: $367,564
Monthly median rent: $1,777
Combined cost of non-housing necessities: $19,987.66
Montana
Red Lodge, Montana
Metro area used: Billings
Median home list price: $291,800
Monthly median rent: $1,272
Combined cost of non-housing necessities: $17,292.95
Nebraska
Papillion
Metro area: Omaha-Council Bluffs
Median home list price: $352,967
Monthly median rent: $1,367
Combined cost of non-housing necessities: $20,299.01
Nevada
North Las Vegas
Metro area: Las Vegas-Henderson-Paradise
Median home list price: $380,629
Monthly median rent: $1,842
Combined cost of non-housing necessities: $22,131.94
Sparks
Metro area: Reno
Median home list price: $484,776
Monthly median rent: $1,869
Combined cost of non-housing necessities: $20,195.47
New Hampshire
Portsmouth
Metro area: Boston-Cambridge-Newton
Median home list price: -$670,849
Monthly median rent: $2,529
Combined cost of non-housing necessities: $20,050.12
Salem
Metro area: Boston-Cambridge-Newton
Median home list price: $512,941
Monthly median rent: $2,800
Combined cost of non-housing necessities: $20,676.61
Trending Now: These 5 Cities Are Becoming Popular With Baby Boomers: Should You Consider Them for Your Retirement Years?
New Jersey
Short Hills
Metro area: New York-Newark-Jersey City
Median home list price: $1,716,742
Monthly median rent: $3,984
Combined cost of non-housing necessities: $25,560.97
Hoboken
Metro area: New York-Newark-Jersey City
Median home list price: $1,478,620
Monthly median rent: $3,534
Combined cost of non-housing necessities: $24,902.63
New Mexico
Rio Rancho
Metro area: Albuquerque
Median home list price: $303,638
Monthly median rent: $1,745
Combined cost of non-housing necessities: $19,255.20
New York
Water Mill
Metro area: New York-Newark-Jersey City
Median home list price: $3,643,074
Monthly median rent: $97,222
Combined cost of non-housing necessities: $24,397.25
Amagansett
Metro area: New York-Newark-Jersey City
Median home list price: $3,005,998
Monthly median rent: $54,322
Combined cost of non-housing necessities: $25,086.88
North Carolina
Waxhaw
Metro area: Charlotte-Concord-Gastonia –
Median home list price: $548,682
Monthly median rent: $2,528
Combined cost of non-housing necessities: $21,049.41
Carolina Beach
Metro area: Wilmington
Median home list price: $599,604
Monthly median rent: $1,924
Combined cost of non-housing necessities: $21,189.50
North Dakota
West Fargo
Metro area: Fargo
Median home list price: $307,908
Monthly median rent: $1,573
Combined cost of non-housing necessities: $18,871.11
Explore More: Barbara Corcoran Says Now Is the ‘Best Time’ To Buy a House: Here’s Why
Ohio
New Albany
Metro area: Columbus
Median home list price: $623,243
Monthly median rent: $1,747
Combined cost of non-housing necessities: $19,800.63
Upper Arlington
Metro area: Columbus
Median home list price: $563,484
Monthly median rent: $2,051
Combined cost of non-housing necessities: $19,589.60
Oklahoma
Edmond
Metro area: Oklahoma City
Median home list price: $318,725
Monthly median rent: $1,622
Combined cost of non-housing necessities: $20,635.99
Piedmont
Metro area: Oklahoma City
Median home list price: $300,305
Monthly median rent: $1,465
Combined cost of non-housing necessities: $21,430.74
Oregon
Lake Oswego
Metro area: Portland-Vancouver-Hillsboro
Median home list price: $907,141
Monthly median rent: $2,235
Combined cost of non-housing necessities: $21,169.01
West Linn
Metro area: Portland-Vancouver-Hillsboro, OR-WA
Median home list price: $739,816
Monthly median rent: $2,317
Combined cost of non-housing necessities: $21,354.92
Pennsylvania
New Hope
Metro area: Philadelphia-Camden-Wilmington
Median home list price: $772,960
Monthly median rent: $2,875
Combined cost of non-housing necessities: $23,485.92
Devon
Metro area: Philadelphia-Camden-Wilmington
Median home list price: $800,908
Monthly median rent: $1,989
Combined cost of non-housing necessities: $22,105.18
Rhode Island
Narragansett
Metro area: Providence-Warwick
Median home list price: $739,031
Monthly median rent: $2,749
Combined cost of non-housing necessities: $21,288.91
Newport
Metro area: Providence-Warwick
Median home list price: $809,618
Monthly median rent: $2,949
Combined cost of non-housing necessities: $20,528.84
South Carolina
Mount Pleasant
Metro area: Charleston-North Charleston
Median home list price: $747,876
Monthly median rent: $2,156
Combined cost of non-housing necessities: $20,589.71
Find Out: Barbara Corcoran: ‘If You Buy a Home Now, It’s To Your Advantage’
South Dakota
Box Elder, South Dakota
Metro area used: Rapid City
Median home list price: $231,685
Monthly median rent: $1,026
Combined cost of non-housing necessities: $17,631.36
Tennessee
Brentwood
Metro area: Nashville-Davidson–Murfreesboro–Franklin
Median home list price: $1,169,876
Monthly median rent: $2,835
Combined cost of non-housing necessities: $20,980.51
Texas
Highland Park
Metro area: Dallas-Fort Worth-Arlington
Median home list price: $2,522,341
Monthly median rent: $4,284
Combined cost of non-housing necessities: $21,350.99
University Park
Metro area: Dallas-Fort Worth-Arlington
Median home list price: $1,979,429
Monthly median rent: $3,638
Combined cost of non-housing necessities: $21,440.48
Utah
Holladay
Metro area: Salt Lake City
Median home list price: $787,270
Monthly median rent: $2,048
Combined cost of non-housing necessities: $19,864.62
Draper
Metro area: Salt Lake City
Median home list price: $785,991
Monthly median rent: $1,689
Combined cost of non-housing necessities: $20,265.74
Vermont
South Burlington, Vermont
Metro area used: Burlington-South Burlington
Median home list price: $405,496
Monthly median rent: $1,896
Combined cost of non-housing necessities: $18,080.47
Virginia
McLean
Metro area: Washington-Arlington-Alexandria
Median home list price: $1,369,700
Monthly median rent: $2,393
Combined cost of non-housing necessities: $23,105.86
Vienna
Metro area: Washington-Arlington-Alexandria
Median home list price: $990,185
Monthly median rent: $3,037
Combined cost of non-housing necessities: $22,684.15
Read More: 5 Unnecessary Bills You Should Stop Paying in 2024
Washington
Sammamish
Metro area: Seattle-Tacoma-Bellevue
Median home list price: $1,455,452
Monthly median rent: $3,059
Combined cost of non-housing necessities: $21,874.51
Mercer Island
Metro area: Seattle-Tacoma-Bellevue
Median home list price: $2,179,996
Monthly median rent: $2,497
Combined cost of non-housing necessities: $21,328.47
West Virginia
Martinsburg
Metro area: Hagerstown-Martinsburg
Median home list price: $260,943
Monthly median rent: $1,576
Combined cost of non-housing necessities: $20,836.05
Wisconsin
Middleton
Metro area: Madison
Median home list price: $522,224
Monthly median rent: $1,562
Combined cost of non-housing necessities: $19,777.41
Wyoming
Green River, Wyoming
Metro area used: Rock Springs
Median home list price: $225,367
Monthly median rent: $1,016
Combined cost of non-housing necessities: $19,128.34
More From GOBankingRates
Frugal People Love the 6 to 1 Grocery Shopping Method: Here's Why It Works
Social Security: Can Debt Collectors Garnish Your SSI Payments?
Methodology: GOBankingRates analyzed the largest Metropolitan Statistical Areas (MSA) in each state by evaluating cities within the MSA with populations less than 100,000 (“suburbs”) along the following criteria: (1) median home list price, sourced from Zillow’s January 2023 home value data, (2) median rent, sourced from Zillow’s January 2023 index, and (3) annual cost of living expenditures, based on the Bureau of Labor Statistics’ 2021 Consumer Expenditure Survey and local cost of living indices sourced from Sperling’s Best Places. All these factors were scored, summed up and then ranked from best to worst for each major MSA in all 50 states to give The Most Expensive Suburbs in Every State. Factor (1) was weighted 1.5 times in final calculations. The list of cites came from first ranking factors (1) and (2) by state and taking each state’s five highest-scoring (most expensive) suburbs to the next round. All data was collected and is up to date as of February 27-28, 2023.
Photo disclaimer: Images used are representational of the overall areas mentioned, but may not reflect the actual suburbs listed.
Jami Farkas contributed to the reporting of this article.
This article originally appeared on GOBankingRates.com: The Most Expensive Suburbs in Every State
