Housing

How Much It Costs to Live in Some of America's Best Neighborhoods

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Paul Ausick
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The things that make a particular neighborhood stand out to a home buyer are usually a matter of personal preference. There are, however, a few features that would make nearly every potential buyer’s list.

Researchers at Trulia.com categorized these features into three broad categories and then applied four metrics to create a weighted average of each neighborhood’s ranking in each category and then use these averages to calculate a numerical score between 1 and 100, with 100 being the best. The categories that the researchers looked at were quiet streets, great places to play, and proximity to care and essential amenities.

The Trulia researchers then searched for a house for sale in seven of these top neighborhoods.

Here are the median prices, the listing price on a specific property, and the amount of household income needed to own a home in each neighborhood.

  1. Sunset Hill, Seattle, Washington: median home price, $850,000; listing price, $749,000; income needed to live here, $217,880
  2. Rogers Park, Chicago, Illinois: median home price, $154,500; listing price, $149,000; income needed to live here, $47,760
  3. Central West End, St. Louis, Missouri: median home price, $372,304; listing price, $335,000; income needed to live here, $97,400
  4. Manayunk, Philadelphia, Pennsylvania: median home price, $206,500; listing price, $224,600; income needed to live here, $58,080
  5. Nonantum, Newton, Massachusetts: median home price, $867,000; listing price, $869,000; income needed to live here, $226,866
  6. Coral Gables, Florida: median home price, $735,000; listing price, $785,000; income needed to live here, $193,466
  7. Deer Park, Houston, Texas: median home price, $239,954; listing price, $247,900; income needed to live here, $72,840

Visit Trulia.com to see pictures of the listings, the complete methodology used to come up with the list, and other details.

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