Runzheimer International, a Wisconsin-based management consultant completed a survey of the most expensive places to live in the US [RI]. The survey looked at what it would cost a typical family of four to live in over 300 locations [CNN/Money]. The median was $60,000 in annual costs associated with maintaining a typical lifestyle. Manhattan was the most expensive.
The survey looked at what percentage of these costs were associated with housing as well as the percentage of the market value of housing was paid in real estate taxes. Manhattan had the highest level of housing as a percentage of total costs.
Real estate taxes for Manhattan were relatively low as compared to the remaining 4 cities in the top 5, expressed as a percentage of housing costs.
Since the methodology is not disclosed and the report is issued more as a press release, I don’t place much credence in the results. But its fun to look at results and see the remaining rankings. I would have thought that Seattle and Boston would have been higher than San Jose and Los Angeles.