How long can people keep living in the most expensive cities and actually afford to live the lifestyle they desire?
In today’s world – it’s tough. In fact, most people pay out over half of their income to rental expenses!
Do you have a dream city in mind where you’ve been dying to move? Well, here is a list of the most sought-after cities and what it takes on average (per month) to rent a residence there:
San Francisco, California – $1,905
Stamford-Norwalk, Connecticut – $1,769
Honolulu, Hawaii – $1,767
Nassau-Suffolk, New York – $1,682
Orange County, California – $1,652
San Jose-Sunnyvale-Santa Clara, California – $1,623
Westchester County, New York – $1,580
Bergen-Passaic, New Jersey – $1,515
Danbury, Connecticut – $1,512
Washington, D.C. – $1,506
With the high rental expenses in these popular cities, most people should ask themselves these questions before making any major decisions to move:
- Do you have a set amount of time you can afford to live in your chosen city before you’d have to move to a more affordable location?
- Are you willing to pay rent for the long-term rather than purchase a new home outside the city limits?
- What are you going to have to sacrifice in your future in order to rent a place in the city of your dreams?
These days, no matter where you live – rent just isn’t cheap!
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