Nine Most Expensive Cities for Housing Costs

Phillip Spears/Digital Vision(NEW YORK) — When considering purchasing a home, potential buyers should consider a number of costs in addition to a home sale price, such as property taxes and homeowners insurance premiums.

Bankrate.com compiled a list of total median monthly housing costs in major U.S. cities.  San Francisco took first place with median monthly total costs of $2,497.68, followed closely by another expensive city, New York.

Here are the nine most expensive cities in Bankrate.com’s list:

1. San Francisco – $2,497.68

• Mortgage rate: 3.58 percent
• Mortgage principal and interest payment: $2,004.93
• Property tax payment: $415.92
• Homeowners insurance premium: $76.83

2. New York – $2,068.96

• Mortgage rate: 3.67 percent
• Mortgage principal and interest payment: $1,385.30
• Property tax payment: $598.58
• Homeowners insurance premium: $85.08

3. Boston – $1,833.73

• Mortgage rate: 4.01 percent
• Mortgage principal and interest payment: $1,384.65
• Property tax payment: $362.83
• Homeowners insurance premium: $86.25

4. San Diego – $1,746.21

• Mortgage rate: 3.65 percent
• Mortgage principal and interest payment: $1,387.38
• Property tax payment: $282.00
• Homeowners insurance premium: $76.83

5. Washington, D.C. – $1,735.45

• Mortgage rate: 3.63 percent
• Mortgage principal and interest payment: $1,339.79
• Property tax payment: $306.58
• Homeowners insurance premium: $89.08

6. Seattle – $1,726.50

• Mortgage rate: 3.63 percent
• Mortgage principal and interest payment: $1,394.00
• Property tax payment: $286.50
• Homeowners insurance premium: $46.00

7. Los Angeles – $1,474.75

• Mortgage rate: 3.68 percent
• Mortgage principal and interest payment: $1,090.00
• Property tax payment: $307.92
• Homeowners insurance premium: $76.83

8. Baltimore – $1,276.98

• Mortgage rate: 3.95 percent
• Mortgage principal and interest payment: $968.06
• Property tax payment: $244.00
• Homeowners insurance premium: $64.92

9. Philadelphia – $1,183.43

• Mortgage rate: 3.66 percent
• Mortgage principal and interest payment: $805.02
• Property tax payment: $320.58
• Homeowners insurance premium: $57.83

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