It is no secret that cost of living is greater in some cities and states than others, however, the following 8 cities have given this an entirely new definition as they set all-time highs for cost of purchasing a new home. It is these cities where homes that skyrocket into the millions of dollars is completely normal, and places those residents are entertained to a higher standard of living.
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Manhattan, New York City is the most expensive city to buy a home. You probably had a good clue that this NYC area would make the list. In 2013, more than 180 home listings were valued at more than $10 million. The average cost of a home in NYC is $2.3 million, so you can easily understand the city’s ranking as number one on most expensive places to purchase.
Los Angeles is home to the 90210 zip code, but Beverly Hills is only one of many L.A. suburbs with a desirable and upscale zip code. Bel Air is one such neighborhood, where million dollar plus mansions are all that you will find. With its many desirable locales, L.A. is the number two most expensive city to purchase a home.
Also in California, Malibu, Hollywood, is the third most expensive city to purchase a home on our list. Malibu sits along the Pacific Ocean, offering 21 miles of coastal backdrop for each of the gorgeous homes. Celebrities love to live in Malibu, where there is also a gorgeous state park. In 2013, more than 70 homes were priced at $10 million or more.
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Miami, Florida also makes the list of most expensive places to purchase a home. Miami sits along the coast, with some of the best beaches in the world in South Beach. Miami offers a phenomenal nightlife, out of this world dining, and a host of other reasons that people love the city. More than 60 listings of $10 million plus homes in 2013 place Miami as the fourth most expensive city in the U.S. to purchase a home.
Coming in at number five is beautiful Aspen, Colorado. Aspen is a well-traveled tourist destination, and with the pristine atmosphere perfect for skiing during the winter months and the gorgeous views of the Rocky Mountains, there is no wonder why the city is so beloved. If you want to live in Aspen and purchase a home, be prepared, however. The city has 55 homes priced at $10 million or more, according to 2013 data.