U.S. Cities Where People Are Spending the Most (and Least) on Housing
Residents in some cities are paying double the housing costs found elsewhere.
Editor s Note: This story originally appeared on SmartAsset.com.
Average monthly housing costs across the 50 largest U.S. cities are $1,268, or about 14% higher than median monthly housing costs nationally ($1,112). Additionally, residents spend an average of 23.88% of their annual pre-tax income on housing costs in those cities, while the average American spends 20.31%. Though large cities are often more expensive when it comes to housing not to mention other living costs such as transportation and food some cities are more expensive than others.
10 Cities With the Largest (and Smallest) Homes in America
10 Cities With the Largest (and Smallest) Homes in America
When it comes to buying a home, in some cities, you ll pay more and get less.
This story originally appeared on Filterbuy.
The size of new single-family homes has increased substantially in the last few decades. However, a recent trend in slightly smaller homes that began several years ago might be reversed by the COVID-19 pandemic. As homebuyers spend more time at home, they are seeking houses with more space. According to data from Realtor.com, the median size of residential listings in the U.S. was 1,838 square feet in 2020, but home sizes vary widely by market.