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Is San Francisco A More Expensive City Than NYC?

By

Rebecca Fishbein

Published Aug 25, 2012

Modified Aug 25, 2012

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A mock-up of the view $100 million could buy you

 

Extell

By

Rebecca Fishbein

Published Aug 25, 2012

Modified Aug 25, 2012

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NYC may be the City That Never Sleeps (Without At Least Two Maxed Out American Express Cards Tucked Beneath Its Pillow), but it looks like it might lose its coveted all-around Most Expensive title—as long as you count those outer boroughs, that is. San Francisco, which already surpassed NYC's rental rates back in March, now has the highest median home price in the country, and apparently prices are still skyrocketing.

According to real estate site Trulia.com, the average price for all properties in San Francisco increased 3.9 percent from April to May 2012, with the median from May to July clocking in at $705,000. And while the median home price in Manhattan was still a swanky $1,192,500 in July 2012, lower home prices in Brooklyn ($560,000) Queens ($499,555) the Bronx ($345,000) and Staten Island ($375,000) make the city a little more affordable if you're in the market to buy—assuming, of course, that you're willing to stick it out across the river! And prices in San Francisco are climbing fast—prices increased 4.4 percent from June '11-'12, making it the city with the highest yearly increase in the country.

But don't worry! New Yorkers can still carry some cost-of-living pride. For instance, monthly public transit passes in San Francisco are a paltry $74; 30-day MetroCards currently run at $104, and the MTA said recently that "extreme" fare increases might be in our future. Take that, Bay Area!

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home prices

new york

real estate

rental

san francisco

Rebecca Fishbein

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