Nine Most Expensive Cities for Housing Costs
Published at | Updated at(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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