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DC Ranks Fourth Among Most Expensive Cities in US

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The District of Columbia is now the fourth most expensive city to live in the country, according to Fox 5 D.C.

D.C. residents spend nearly 60 percent more than the rest of the country for living. The average home price in the city is above $636,000, according to Zillow. It was three percent lower last year. And the average rent price is $2,700.

In 2019, the homeownership rate in D.C. was just over 60 percent, and about 40 percent of residents paid rent. However, utility costs were surprisingly low for a city as expensive as that.

The District followed Honolulu, San Francisco and New York City, which took the third, second and first spots respectively.

New York City, which usually leads most rankings in terms of living expenses, is around 120 percent higher than the U.S. national average. The city is also known for being one of the most expensive cities in the world, as rents are at almost historic rates and 1.5 million New Yorkers are living in poverty.

In San Francisco, the median home price is over $1.3 million, which is approximately a half a million increase from eight years ago, according to real estate website Zillow. The median rent in the city is $4,312 per month.

People living in Honolulu, Hawaii’s capital city, pay 55 percent more on groceries and 71 percent more on utilities compared with the rest of the country, Fox 5 D.C. says.

 

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