Yahoo Finance 11 Affordable Suburbs Near Expensive U.S. Cities
Living in a major city comes with many perks, such as easy access to amenities and a wide variety of entertainment options. But it also comes with a high sticker price -- and living in the country's most expensive major metro areas is out of budget for many Americans.
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The median home price in Irvine, California; San Francisco and San Jose, California is well above $1 million, while median prices in Los Angeles, New York, Boston and Washington, D.C. are above $500,000. But often, if you venture outside of these cities, you'll find much more affordable housing options.
A recent report by Point2 analyzed the prices of homes in nearly 800 suburbs located within a 30-mile driving distance of the top 20 largest, highest-priced U.S. cities and found that in 11 suburbs, the price per square foot is 60% to 65% lower than in the city.
Here's a look at the 11 suburbs with significantly more affordable homes than their nearby cities.
Medley, Florida
Nearby city: Miami
City price per square foot: $445
Suburb price per square foot: $154
Percent difference: -$65%
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Pictured: Miami
Emerson, New Jersey
Nearby city: New York
City price per square foot: $588
Suburb price per square foot: $221
Percent difference: -$62%
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Pictured: View of Manhattan from New Jersey
Lodi, New Jersey
Nearby city: New York
City price per square foot: $588
Suburb price per square foot: $223
Percent difference: -$62%
Pictured: New York
Mount Vernon, New York
Nearby city: New York
City price per square foot: $588
Suburb price per square foot: $221
Percent difference: -$62%
Huntington, Maryland
Nearby city: Washington, D.C.
City price per square foot: $501
Suburb price per square foot: $190
Percent difference: -$62%
Waldorf, Maryland
Nearby city: Washington, D.C.
City price per square foot: $501
Suburb price per square foot: $192
Percent difference: -$62%
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Moonachie, New Jersey
Nearby city: New York
City price per square foot: $588
Suburb price per square foot: $226
Percent difference: -$62%
Pictured: New York
Boulevard Park, Washington
Nearby city: Seattle
City price per square foot: $572
Suburb price per square foot: $222
Percent difference: -$61%
Pictured: Seattle
Lawrence, Massachusetts
Nearby city: Boston
City price per square foot: $641
Suburb price per square foot: $254
Percent difference: -$60%
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Passaic, New Jersey
Nearby city: New York
City price per square foot: $588
Suburb price per square foot: $235
Percent difference: -$60%
Pictured: New York
Paterson, New Jersey
Nearby city: New York
City price per square foot: $588
Suburb price per square foot: $238
Percent difference: -$60%
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All data is sourced from Point2 and is accurate as of May 12, 2023.
This article originally appeared on GOBankingRates.com: 11 Affordable Suburbs Near Expensive U.S. Cities
