Friday, February 3, 2012

America's Most Overpriced Cities, 2012



Started with America’s 100 largest Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (MSADs), all with populations of more than 600,000 residents or more. Ranking them based on four metrics: housing affordability, using the Housing Opportunity Index (HOI) compiled by the National Association of Home Builders and Wells Fargo; the cost-of-living index created by Sperling’s Best Places which places the national average at 100; median salaries for residents with a BA degree or higher to see just how far a paycheck actually stretches, using data from Payscale.com; and local unemployment rates collected from Moody’s Economy.com and the Bureau of Labor Statistics.

Culled from Forbes
February 1, 2012

Here are the top 10 most overpriced cities in America:


Los Angeles, Calif.

MSAD: Los Angeles-Long Beach-Glendale, CA
Housing Affordability: 45.1%
Unemployment Rate: 11.9%
Median Salary (for college grads): $62,900
Cost-of-Living: 144





Fresno, Calif.

MSA: Fresno, CA
Housing Affordability: 77.4%
Unemployment Rate: 15.8%
Median Salary (for college grads): $50,600
Cost-of-Living: 109





 Miami, Fla.

MSAD: Miami-Miami Beach-Kendall, FL
Housing Affordability: 61.3%
Unemployment Rate: 10.2%
Median Salary (for college grads): $55,700
Cost-of-Living: 112





McAllen, Texas

MSA: McAllen-Edinburg-Mission, TX
Housing Affordability: 53.4%
Unemployment Rate: 11.7%
Median Salary (for college grads): $44,900
Cost-of-Living: 75





Providence, R.I.

MSA: Providence-New Bedford-Fall River, RI-MA
Housing Affordability: 75.9%
Unemployment Rate: 10.2%
Median Salary (for college grads): $55,000
Cost-of-Living: 129





West Palm Beach, Fla.

MSAD: West Palm Beach-Boca Raton-Boynton Beach, FL
Housing Affordability: 74%
Unemployment Rate: 10.4%
Median Salary (for college grads): $54,700
Cost-of-Living: 112




El Paso, Texas (tie)

MSA: El Paso, TX
Housing Affordability: 55.5%
Unemployment Rate: 10.2%
Median Salary (for college grads): $47,700
Cost-of-Living: 82





Honolulu, Hawaii (tie)

MSA: Honolulu, HI
Housing Affordability: 40%
Unemployment Rate: 5.7%
Median Salary (for college grads): $53,900
Cost-of-Living: 180





Bradenton, Fla. (tie)

MSA: North Port-Bradenton-Sarasota, FL
Housing Affordability: 72.6%
Unemployment Rate: 10.4%
Median Salary (for college grads): $52,000
Cost-of-Living: 100





San Jose, Calif. (tie)

MSA: San Jose-Sunnyvale-Santa Clara, CA
Housing Affordability: 51.5%
Unemployment Rate: 9.8%
Median Salary (for college grads): $92,100
Cost-of-Living: 175





Charleston, S.C.

MSA: Charleston-North Charleston-Summerville, SC
Housing Affordability: 68.3%
Unemployment Rate: 8.5%
Median Salary (for college grads): $50,600
Cost-of-Living: 104




Oxnard, Calif.

MSA: Oxnard-Thousand Oaks-Ventura, CA
Housing Affordability: 59.9%
Unemployment Rate: 9.7
Median Salary (for college grads): $63,500
Cost-of-Living: 150





New York, N.Y. (tie)

MSAD: New York-White Plains-Wayne, NY-NJ
Housing Affordability: 23.3%
Unemployment Rate: 8.8%
Median Salary (for college grads): $65,600
Cost-of-Living: 169





San Diego, Calif. (tie)

MSA: San Diego-Carlsbad-San Marcos, CA
Housing Affordability: 54%
Unemployment Rate: 9.6%
Median Salary (for college grads): $64,500
Cost-of-Living: 141





Riverside, Calif.

MSA: Riverside-San Bernardino-Ontario, CA
Housing Affordability: 75.2%
Unemployment Rate: 12.8%
Median Salary (for college grads): $57,800
Cost-of-Living: 115





Greensboro, N.C.

MSA: Greensboro-High Point, NC
Housing Affordability: 75.8%
Unemployment Rate: 10.5%
Median Salary (for college grads): $51,100
Cost-of-Living: 96





Newark, N.J. (tie)

MSAD: Newark-Union, NJ-PA
Housing Affordability: 52.4%
Unemployment: 8.9%
Median Salary (for college grads): $64,800
Cost-of-Living: 139





Oakland, Calif. (tie)

MSAD: Oakland-Fremont-Hayward, CA
Housing Affordability: 68.6%
Unemployment: 10%
Median Salary (for college grads): $66,300
Cost-of-Living: 154





Santa Ana, Calif. (tie)

MSAD: Santa Ana-Anaheim-Irvine, CA
Housing Affordability: 43%
Unemployment: 8.4%
Median Salary (for college grads): $64,000
Cost-of-Living: 157





Tacoma, Wash. (tie)

MSAD: Tacoma, WA
Housing Affordability: 79.9%
Unemployment Rate: 9.3%
Median Salary (for college grads): $53,200
Cost-of-Living: 116





Portland, Ore.

MSA: Portland-Vancouver-Beaverton, OR-WA
Housing Affordability: 71.8%
Unemployment Rate: 8.4%
Median Salary (for college grads): $56,400
Cost-of-Living: 120





Fort Lauderdale, Fla.

MSAD: Fort Lauderdale-Pompano Beach-Deerfield Beach, FL
Housing Affordability: 74.7%
Unemployment Rate: 9.1%
Median Salary (for college grads): $54,700
Cost-of-Living: 108




New Haven, Conn.

MSA: New Haven-Milford, CT
Housing Affordability: 77.1%
Unemployment Rate: 9.2%
Median Salary (for college grads): $56,900
Cost-of-Living: 128





San Francisco, Calif.

MSAD: San Francisco-San Mateo-Redwood City, CA
Housing Affordability: 32.9%
Unemployment Rate: 8%
Median Salary (for college grads): $76,300
Cost-of-Living: 188




Charlotte, N.C.

MSA: Charlotte-Gastonia-Concord, NC-SC
Housing Affordability: 68.5%
Unemployment Rate: 10.5%
Median Salary (for college grads): $58,200
Cost-of-Living: 96