Can You Afford Housing Costs In These 10 Popular Cities?

Can You Afford Housing Costs In These 10 Popular Cities?

Columbus is a wonderful place to raise a family, to go to college, and to watch the Buckeyes. Most importantly, housing costs are very affordable compared to most major American Cities.

Although you love Columbus, you may have to move out of state to pursue business opportunities, to be closer to your grand kids or simply to get away from the cold Ohio winters.

The cost of living and housing costs vary greatly across the country. Here are 10 popular Cities Central Ohioans like to move to. Find out how they compare to Columbus, and how much more you’d have to earn to maintain your current standard of living.

Housing Costs Ranking

For each City on this list we compare the general cost of living, the cost of renting a 2 bedroom apartment, and the median house price to Columbus. You will also see how much you’d have to earn to maintain your standard of living, if you make $100,000 in Columbus.

Cities are ranked by housing costs (rent). For instance, the average rent for a median 2-bedroom apartment in Washington DC is $2,111/month. That’s 137% more expensive than Columbus, where you can rent a similar unit for $892/month.

1. Boston

This city attracts both professionals and scientists seeking closeness to MIT and Harvard, as well as many tech companies located in Boston.

Cost of living: 63% higher
Housing – rent: 199% higher
Housing – purchase: 145% higher
You need to earn: $163,494

2. New York (Brooklyn)

The City that never sleeps is popular with professionals as well as retirees who want to enjoy the big city life-style, as well as the entertainment options it offers. I picked Brooklyn over Manhattan, because Manhattan housing is totally through the roof and not realistic for most of us.

Cost of living: 94% higher
Housing – rent: 198% higher
Housing – purchase: 350% higher
You need to earn: $193,505

3. Los Angeles

Lured by Hollywood many a youngster has moved to LA. Whether you make it in the entertainment industry or not, it’s expensive to live in the City of Angels.

Cost of living: 57% higher
Housing – rent: 175% higher
Housing – purchase: 181% higher
You need to earn: $156,887

4. Washington DC

This is not only a place for aspiring politicians and lawyers. With many government contractors located in the DC area there are plenty of high end jobs for college grads.

Cost of living: 66% higher
Housing – rent: 137% higher
Housing – purchase: 235% higher
You need to earn: $166,181

5. Seattle

A popular place for the tech crowd. This city is home to many software and internet companies, such as Microsoft, Amazon, and Zillow. If you move for a job, you better get a big raise.

Cost of living: 58% higher
Housing – rent: 132% higher
Housing – purchase: 135% higher
You need to earn: $158,343

6. Chicago

With one son living in the windy City and another one moving there this summer, Chicago it a top destination for young college grads.

Cost of living: 33% higher
Housing – rent: 68% higher
Housing – purchase: 94% higher
You need to earn: $133,259

7. Denver

Anyone who loves the mountains is attracted by Denver, one of the fastest growing metros in the country. Here’s how it compares to Columbus.

Cost of living: 22% higher
Housing – rent: 65% higher
Housing – purchase: 73% higher
You need to earn: $121,725

8. Charleston

The Atlantic beaches of South Carolina have been a favorite summer spot for many Ohioans: college students, young families with kids and seniors planning to retire.

Cost of living: 17% higher
Housing – rent: 38% higher
Housing – purchase: 25% higher
You need to earn: $116,685

9. Orlando

Florida is top of the list for Ohio Snow Birds. Out of the many options (such as Miami, Sarasota, and Ft. Lauderdale) Orlando is the most affordable.

Cost of living: 5% higher
Housing – rent: 19% higher
Housing – purchase: 16% higher
You need to earn: $104,703

10. Phoenix

The dry, hot weather of this desert metropolis pulls in many retirees who love to play golf year round.

Cost of living: 7% higher
Housing – rent: 9% higher
Housing – purchase: 32% higher
You need to earn: $107,391

Do you want to compare more cities?

Go to Nerd Wallet. I used their moving calculator to compile this list. They cover hundreds of cities across the US.

Planning to Stay in Ohio?

Find out how Columbus fares against other Ohio Cities. You’ll be surprised how affordable our City is!

Call or text me at (614) 975-9650, if you plan to move!

I can refer you to an experienced RE/MAX agent anywhere in the US or even around the World!  RE/MAX has offices in more than 100 countries with 112,000 agents all over the globe.  To find out what’s for sale, use our exclusive, global real estate search site at global.remax.com .

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About the Author

Susanne has helped more than 500 home buyers or sellers in the past 3 years. She is consistently ranked among the top 1% of all real estate agents in Central Ohio. Connect with her on Google+ or call or text her at (614) 975-9650.

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