SavvySugar

Cost of 4-Bedroom Homes in the Most and Least Pricey Cities

SavvySugar — Mon, 28 Sep 2009 04:32:16 -0700

Homes are one category where you cannot judge the cost by its cover. Housing prices vary wildly depending on geography - the same chunk of change can buy a 1,000 square-foot condo in one part of the country or a 5,200 spacious home in another area.

The 2009 Coldwell Banker Home Price Comparison Index was released this week, and it's an "apples-to-apples" comparison of the prices around the nation for 2,200-square-foot, four-bedroom, two-and-one-half bath, single-family homes. See a side-by-side cost comparison of the 10 most and least affordable cities below.

Location	Price	Location	Price
La Jolla, CA	$2,125,000	Grayling, MI	$112,675
Beverly Hills, CA	$1,981,750	Akron, OH	$121,885
Greenwich, CT	$1,519,250	Fayetteville, NC	$130,875
Palo Alto, CA	$1,489,726	Canton, OH	$131,867
Santa Monica, CA	$1,460,912	Detroit, MI	$132,000

See five more comparisons when you read more.

Location	Price	Location	Price
San Francisco, CA	$1,363,250	Arlington, TX	$138,775
Boston, MA	$1,337,578	Macon, GA	$139,007
Newport Beach, CA	$1,315,505	Eau Claire, WI	$141,270
Palos Verdes, CA	$1,237,041	Port Charlotte, FL	$142,750
San Mateo, CA	$1,090,000	Wichita, KS	$144,625

Maryland Is the State With the Highest Median Income

SavvySugar — Tue, 22 Sep 2009 04:30:43 -0700

Maryland is holding strong as the state with the highest median income for the third year in a row. The U.S. Census Bureau American Community Survey (using 2008 figures) found the median household income in Maryland is $70,545, followed by New Jersey ($70,378), Connecticut ($68,595), Alaska ($68,460) and Hawaii ($67,214). See which states have the lowest median income when you read more.

With its median income of $37,790, Mississippi is ranked in the survey, following short of West Virginia ($37,989), Arkansas ($38,815), Kentucky ($41,538), and Alabama ($42,538). It's important to note that the cost of living in Bethesda, Maryland is 52 percent higher than in Tupelo, Mississippi; the average apartment monthly rent in Bethesda is $1,464 and median home price is $529,707, versus $512 monthly rent in Tupelo and a median home price of $220,000.

The takeaway? One must consider purchasing power before taking a job in a new state that promises bigger bucks.

San Francisco, Vegas Among the Best Undervalued Places to Live

SavvySugar — Mon, 20 Jul 2009 06:30:08 -0700

Bargain shoppers in the market for a new home are searching for value, and a recent study has come up with something even better than fair prices -it's determined where to find undervalued homes in great places to live.

U.S. News used the IHS Global Insight's first-quarter 2009 House Prices in America report (which uses household income, population density, and other data to compare a market's actual value with where it should be on a statistical basis), and used that information with other elements like employment and quality-of-life to determine America's best undervalued places to live. To see which cities made the cut, read more.

Las Vegas
Houston
Naples, FL
Oklahoma City
Sarasota, FL
San Francisco
Atlanta
Omaha
College Station-Bryan, TX
San Diego

How Money Are You: The Cost of Fast Food Around the World

SavvySugar — Thu, 16 Jul 2009 08:30:14 -0700

Eating fast food from American chains while on an overseas vacation isn't my idea of an ideal meal. Besides missed opportunities to test local cuisine, buying fast food in other countries won't necessarily cut your food costs.

Consulting firm Mercer selected 20 geographically diverse cities and compared the cost of an average hamburger meal. Can you guess how much the average fast food meal costs internationally?

Take the quiz

Has Your City Cut Back on Credit Card Spending?

SavvySugar — Tue, 14 Jul 2009 06:30:21 -0700

Spending less is the quickest way to boost your savings account, and some places in the US have shown a true change in habits since last year. In fact, the U.S. personal income savings rate increased to 6.9 percent from 0 percent the year before. That's good news for personal finances, and Forbes sought out to find the thriftiest cities in the country.

First, it used data from Equifax to determine the total credit card debt in each of the 50 largest metropolitan areas and calculated the average debt per household in each metro area. Then, it divided each metro's average debt per household by May 2009 median household income to determine the average percent of household income owed to credit card companies. To see the 10 cities where spenders have cut back from using credit cards the most, read more.

Chicago, IL: Average credit card debt per household: $7,336.52; percent of income owed to credit card companies: 12.48 percent.
San Francisco, CA: Average credit card debt per household: $9,212.31; percent of income owed to credit card companies: 12.47 percent.
Seattle, WA: Average credit card debt per household: $8,749.44; percent of income owed to credit card companies: 12.26 percent.
Baltimore, MD: Average credit card debt per household: $7609.76; percent of income owed to credit card companies: 12.19 percent.
Philadelphia, PA: Average credit card debt per household: $7,103.60; percent of income owed to credit card companies: 12.16 percent.
Kansas City, MO: Average credit card debt per household: $6,717.87; percent of income owed to credit card companies: 12.07 percent.
Boston, MA: Average credit card debt per household: $5,961.29; percent of income owed to credit card companies: 11.75 percent.
Nashville, TN: Average credit card debt per household: $7,870.53; percent of income owed to credit card companies: 11.73 percent.
San Jose, CA: Average credit card debt per household: $9,424.76; percent of income owed to credit card companies: 11.46 percent.
Washington, D.C.: Average credit card debt per household: $9,546.88; percent of income owed to credit card companies: 11.43 percent.

Most Expensive Cities in the World: How Money Are You?

SavvySugar — Fri, 10 Jul 2009 06:30:18 -0700

If you think it's tough to make ends meet in your city, consider what it takes to come out ahead in the world's most expensive cities. Perhaps you live in one of them and know all too well about the pricey cost of living.

Mercer's 2009 Worldwide Cost of Living survey results were released this week and the rankings this year have shifted from last year's survey. What do you know about the most expensive places to live in the world? Take the quiz!

Take the quiz

I'm Asking: How Much Do You Spend on Monthly Groceries?

SavvySugar — Tue, 16 Jun 2009 10:30:51 -0700

Now that more of us are frequently cooking at home to cut down on food expenses, it would make sense that our grocery bills would go up to reflect the change. On average, how much do you spend on monthly groceries?

Get the Most For Your Money in America's Best Bargain Cities

SavvySugar — Tue, 26 May 2009 06:30:35 -0700

Stretching your dollars wouldn't be easy in America's most overpriced cities, but it would be a cinch in the country's best places for bargains. Forbes used the same factors to evaluate which cities are bargains as it did to determine the ones that are overpriced. It analyzed the 50 largest U.S. metropolitan areas in terms of the average salary for residents with at least bachelor degrees, annual unemployment statistics, cost of living, and housing affordability based on local median income.

Getting the most for your money is even more appealing in this economic environment, and a true bargain makes you feel like you're getting a much needed break. Check out the best bargain cities below; numbers one and two on the list also happen to appear on Budget Travel's best destinations for 2009. Would you want to live in any of these more-bang-for-your-buck places?

Detroit, MI
Kansas City, MO
Cambridge, MA; Denver, CO; and Nashville, TN
San Antonio, TX
Houston, TX
Dallas, TX

See the seven best bargain cities when you read more.

Columbus, OH
Indianapolis, IN and Cincinnati, OH
Fort Worth, TX
Washington, D.C.
Phoenix, AZ
Austin, TX

Source

What $400,000 Will Buy in This Real Estate Market

SavvySugar — Thu, 21 May 2009 06:30:25 -0700

Hot deals in the housing market are here. You bet, experts are saying, it's a buyer's market. Reduced prices will make your money go further, and according to real estate expert Barbara Corcoran, "You definitely get an extra bedroom and bath in almost every market." Bankrate researched what $400,000 will buy today by looking at homes currently for sale in 24 cities across the country. Here's a sampling of what kind of home you could purchase with that chunk of change.

Location	Suburb/Metro	Square Footage	Beds / Baths	Acres
Bronx, NY	Borough	1,000	2 bd / 1ba	n/a (condo)
Chula Vista, CA	Suburb of San Diego	1,730	3 bd / 2.5 ba	.11
Houston, TX	Suburb of downtown	2,482	3 bd / 2.5 ba	.06
Denver, CO	Suburb of Denver proper	3,441	4 bd / 3.5 ba	.125
McDonough, GA	Suburb of Atlanta	5,200	4 bd / 3.5 ba	13

See what $400,000 will buy in five more places when you read more.

Location	Suburb / Metro	Square Footage	Beds / Baths	Acres
Conshohocken, PA	Suburb of Philadelphia	2,000	3 bd / 2.5 ba	.07
Branson, MO	Suburb	2,842	4 bd / 2 ba	.25
Aberdeen, SD	Suburb	3,372	4 bd / 3 ba	1.3
Cabot, AR	Suburb of Little Rock	5,180	5 bd / 4 ba	5
Seattle, WA	Metro	2,200	4 bd / 2.5 ba	.08

Source

Shocker: New York Is Not the Most Overpriced US City

SavvySugar — Wed, 13 May 2009 04:30:44 -0700

Dollar signs are often associated with New York City, and while nobody is arguing it's pricey, Forbes says the Big Apple is not the most overpriced.

Forbes factored together the average salary for residents with at least bachelor degrees, annual unemployment statistics, cost of living, and housing affordability based on local median income to determine the most overpriced cities in the US. Surprisingly, New York is not number one on this list. In fact, it's not even number two or three. Check out the 20 most overpriced cities below. Is your city on the list?

Boston, MA and Warren, MI
San Francisco, CA
Jacksonville, FL
St. Louis, Mo
Orlando, FL
Memphis, TN and Tampa, FL
Portland, OR
Philadelphia, PA

See the 10 most overpriced cities when you read more.

San Diego, CA and Newark, NJ
Cleveland, OH
Long Island, NY
Riverside, CA
Providence, RI
New York City, NY
Miami, FL
Chicago, IL
Los Angeles, CA

Source