Sacramento one of US cities that needs ‘most wealth to live comfortably,’ US News says
It cost more to live in Sacramento than it does in Washington D.C., Portland or Denver, according to a new housing cost ranking.
U.S. News & World Report ranked Sacramento No. 15 out of 25 most expensive places to live in the nation behind San Jose, Seattle and New York City. The median home price in the capital city is $619,981 and the median monthly rent is $1,465.
“Many people think Sacramento’s best attribute is that it’s located a few hours from exciting destinations like San Francisco and Lake Tahoe,” the consumer advice and analysis company wrote on its website. “Though it’s constantly overshadowed by cosmopolitan places in its own state, technological and cultural developments breathe life into the California capital.”
METHODOLOGY
Metro areas were ranked based on their gross rent and the yearly housing expenses of homeowners with mortgages.
The U.S. News & World Report analyzed public data from the U.S. Census Bureau, the Federal Bureau of Investigation, the U.S. Department of Labor, internal resources and user opinions.
California cities that ‘require the most wealth’
California took up nearly half of the list of cities that “require the most wealth to live comfortably” in the U.S. between 2023 and 2024. Housing costs vary slightly on real estate websites like Redfin and Zumper:
No. 1 | San Diego
Median home price: $919,507
Median monthly rent: $1,842
No. 2 | Los Angeles
Median home price: $836,831
Median monthly rent: $1,685
No. 5 | Santa Barbra
Median home price: $464,954 Median monthly rent: $1,810
No. 6 | San Francisco
Median home price: $1,122,946 Median monthly rent: $2,155
No. 7 | Salinas
Median home price: $925,458 Median monthly rent: $1,718
No.8 | Santa Rosa
Median home price: $889,590 Median monthly rent: $1,856
No. 10 | Vallejo and Fairfield
Median home price: $606,442 Median monthly rent: $1,802
No. 14 | San Jose
Median home price: $1,524,907 Median monthly rent: $2,511
No. 15 | Sacramento
Median home price: $619,981 Median monthly rent: $1,465
No. 17 | Stockton
Median home price: $589,200 Median monthly rent: $1,387
No. 19 | Modesto
Median home price: $463,918 Median monthly rent: $1,251
No. 20 | Fresno
Median home price: $430,711 Median monthly rent: $1,098
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