The United States of America is a diverse place to live, and every place offers an entirely different way of life. There’s something for everyone from the charm of the South, the busyness of the East, the laidback nature of the West Coast, or the rolling fields in the Midwest.
One thing that changes largely from place to place is the cost of living and the price of houses. Every state is unique in what it offers but wages aren’t always high enough for the average American to live in some of the nicest neighborhoods in the state. There are also healthy and family reasons that you may need to relocate to a certain state. Remember that the data collected here isn’t the average cost of a home in the state, but the average cost of a house in the most expensive neighborhood in the state. Wherever you’re looking, there are likely plenty of homes within your price range in many nice neighborhoods.
We’ve put together a list of the most expensive neighborhoods in each state, using the information we collected from resident information on Reddit. This graphic was created with information from Zillow’s real estate data, where neighborhoods in cities or towns were grouped together in all states. The average price of each neighborhood was then calculated by adding the prices in every area and dividing them by how many properties there were. We’ve listed them below in alphabetical order.
Why We’re Covering This
Where you live is an important part of your quality of life. Living in a state like California requires that you make more money than living in a state like South Dakota. In our efforts to help you understand the best ways to invest and expand your portfolio, we recognize that one of the biggest investments you make in life is a home. At 24/7 Wall Street, we strive to give you as much information as you need to build your personal wealth.
Alabama
- Neighborhood: Mountain Brook
- Average Home Price: $1,758,360
Alaska
- Neighborhood: Kodiak
- Average Home Price: $930,569
Arizona
- Neighborhood: DC Ranch
- Average Home Price: $8,566,589
Arkansas
- Neighborhood: Hot Springs
- Average Home Price: $1,002,782
California
- Neighborhood: Beverly Hill Gateway
- Average Home Price: $22,771,957
Colorado
- Neighborhood: Snowmass
- Average Home Price: $23,568,750
Connecticut
- Neighborhood: Old Greenwich
- Average Home Price: $4,078908
Delaware
- Neighborhood: Bethany Beach
- Average Home Price: $1,349,419
Florida
- Neighborhood: Manalapan
- Average Home Price: $39,761,000
Georgia
- Neighborhood: Sea Island
- Average Home Price: $5,632,636
Hawaii
- Neighborhood: Kapalua
- Average Home Price: $7,255,000
Idaho
- Neighborhood: Ketchum
- Average Home Price: $4,688,973
Illinois
- Neighborhood: Glencoe
- Average Home Price: $3,078,442
Indiana
- Neighborhood: Syracuse
- Average Home Price: $1,242,916
Iowa
- Neighborhood: Cumming
- Average Home Price: $726,325
Kansas
- Neighborhood: Mission Hills
- Average Home Price: $1,922,718
Kentucky
- Neighborhood: Simpsonville
- Average Home Price: $1,569,977
Louisiana
- Neighborhood: Audubon
- Average Home Price: $1,513,937
Maine
- Neighborhood: Bar Harbor
- Average Home Price: $2,732,800
Maryland
- Neighborhood: Chevy Chase Terrace
- Average Home Price: $2,284,946
Massachusetts
- Neighborhood: Osterville
- Average Home Price: $7,308,545
Michigan
- Neighborhood: Lakeside
- Average Home Price: $2,652,417
Minnesota
- Neighborhood: Wayzata
- Average Home Price: $2,236,365
Mississippi
- Neighborhood: Oxford
- Average Home Price: $592,879
Missouri
- Neighborhood: Kansas City
- Average Home Price: $1,396,421
Montana
- Neighborhood: Gallatin Gateway
- Average Home Price: $2,638,136
Nebraska
- Neighborhood: Ashland
- Average Home Price: $884,209
Nevada
- Neighborhood: Glenbrook
- Average Home Price: $9,449,750
New Hampshire
- Neighborhood: North Hampton
- Average Home Price: $3,195,811
New Jersey
- Neighborhood: Alpine
- Average Home Price: $6,609,054
New Mexico
- Neighborhood: Los Ranchos de Albuquerque
- Average Home Price: $1,837,357
New York
- Neighborhood: Southampton Village
- Average Home Price: $16,719,714
North Carolina
- Neighborhood: Linville
- Average Home Price: $3,687,300
North Dakota
- Neighborhood: Horace Mann
- Average Home Price: $739,193
Ohio
- Neighborhood: Mt. Adams
- Average Home Price: $1,363,142
Oklahoma
- Neighborhood: Nichols Hill
- Average Home Price: $1,323,323
Oregon
- Neighborhood: Forest Highlands
- Average Home Price: $2,832,993
Pennsylvania
- Neighborhood: Villanova
- Average Home Price: $3,762,000
Rhode Island
- Neighborhood: Block Island
- Average Home Price: $3,617,765
South Carolina
- Neighborhood: Sullivans Island
- Average Home Price: $5,436,765
South Dakota
- Neighborhood: Lead
- Average Home Price: $889,263
Tennessee
- Neighborhood: Belle Meade
- Average Home Price: $7,055,929
Texas
- Neighborhood: Highland Park
- Average Home Price: $7,346,538
Utah
- Neighborhood: Park Meadows
- Average Home Price: $5,318,700
Vermont
- Neighborhood: Stowe
- Average Home Price: $2,678,479
Virginia
- Neighborhood: McLean
- Average Home Price: $3,103,397
Washington
- Neighborhood: Medina
- Average Home Price: $8,585,489
West Virginia
- Neighborhood: Summersville
- Average Home Price: $1,615,266
Wisconsin
- Neighborhood: Fish Creek
- Average Home Price: $1,391,668
Wyoming
- Neighborhood: South Park
- Average Home Price: $5,018,900
More Interesting Facts
During the research, it was determined that four of the most expensive neighborhoods in the country are in Florida. The most expensive neighborhood in the country is Manalapan, Florida, and the most expensive neighborhood in New York City is Hudson Yards. Colorado is home to the third most expensive neighborhood in the United States in Snowmass. 40 out of the 50 states have neighborhoods with seven-figure averages, while four have those in eight-figures.
How Much Do You Have to Make?
If you’re interested in moving into the most expensive neighborhood in the country, how much money do you need to make? Assuming you put 20% down on the home (just under seven million), had a 30-year loan and the current average interest rate of just under 7%, your monthly payment on the most expensive home in Florida would be just over $180,000 a month. Not to mention property taxes of $34,000 each month and home insurance of $125 each month. If you took the full term to pay off the loan, you would pay almost $65 million for the home.
We’re assuming that most people who can afford to live in a home in this neighborhood aren’t taking out loans to do so. They may have the cash to do it, but plan to pay a hefty commission to an agent on top of what you pay for the home.
Best Quality of Living
It’s not just about money when it comes time to decide where to live. Quality of living should also be considered, and we’ve found the top ten states with the highest quality of living when things like the natural environment, public safety, infrastructure, education, health care, economy, state government, fiscal stability and opportunity for residents are taken into account.
Utah
Utah comes in first in the rankings when it comes to overall quality of living. The state ranks 9th in crime and corrections, second in education, 14th in healthcare, 18th in opportunity, third in the economy, sixth in fiscal stability and 46th in the natural environment.
New Hampshire
New Hampshire comes in a close second to Utah. The state ranks first in crime and corrections, 13th in health care, 9th in education, 7th in the economy, 38th in fiscal stability, 10th in opportunity, 22nd in infrastructure and 8th in the natural environment.
Nebraska
Coming in third in the states with the highest quality of life is Nebraska. The state ranks 19th in opportunity, 4th in infrastructure, 19th in economy, 3rd in fiscal stability, 17th in crime and corrections, 25th in health care, 14th in education and 9th in the natural environment.
Minnesota
As far as quality of living, Minnesota comes in a close fourth place. The state ranks 17th in education, 2nd in the natural environment, 12th in opportunity, 9th in infrastructure, 7th in fiscal stability, 26th in economy and 22nd in crime and corrections.
Idaho
Idaho comes in 5th for quality of living. It ranks 18th in education, 12th in crime and corrections, 2nd in the economy, 9th in fiscal stability, 15th in infrastructure, 14th in opportunity, 20th in the natural environment and 18th in health care.
States To Get Rich In
If you want to get rich in a city in the country, experts suggest that you start in Texas, as it has no income tax for individuals. But don’t forget you may pay higher property taxes there. Kansas is also a great state to save money if you want to keep cost of living down. Minnesota has one of the higher averages for median household income and Colorado is one of the healthiest states in the nation. Oklahoma is one of the most affordable states, allowing you to save extra money every year.
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