An obscure town in Massachusetts has the highest real estate values, surpassing some of the largest cities in the United States
The small town of Vineyard Haven, located in Tisbury on the island of Martha’s Vineyard, has been named the most expensive place to live in the country, according to a new study.
The research, published by LendingTreefound that the median home value in the cozy city is $857,600 — an average of 8.57 times the median household income in the area.
The median household income for residents of Vineyard Haven, with a population of just over 20,000, is $77,392, the study found.
Other cities in Wyoming, Colorado, Washington and Nevada also made the list and are said to be expensive because they are common holiday destinations and home to ‘wealthy individuals’.
The small town of Vineyard Haven, located in Tisbury on the island of Martha’s Vineyard, has been named the most expensive place to live in the country
Other cities in Wyoming, Colorado, Washington and Nevada also made the list and are said to be expensive because they are common vacation destinations and home to ‘wealthy individuals’
The median home value in the cozy city is $857,600, which is an average of 8.57 times the median household income in the area
“These types of buyers can buy up a city’s limited housing supply and drive up housing prices in doing so, making housing difficult to afford for local residents who are not high-income earners,” the study said.
Vineyard Haven is known for its maritime views and history, shopping, small businesses and restaurants.
According to Boston.comthe town is the most expensive area in Martha’s Vineyard.
The median home value in Vineyard Haven is comparable to the median home value in the Bay Area, which is $933,300, according to the survey.
Home values in Jackson, Wyoming came in second, with a median household value of $670,100.
Located in the state’s Jackson Hole Valley, the city is known for its ski resorts and proximity to national parks, state parcels, national forests and the National Elk Refuge.
The survey found that home values in Jackson are comparable to the average home price in Los Angeles, which came in at $671,700.
Home values in Jackson, Wyoming came in second, with a median household value of $670,100
Located in the state’s Jackson Hole Valley, the city is known for its ski resorts and proximity to national parks, state parcels, national forests and the National Elk Refuge. (pictured: a home in Jackson Hole)
The city of Breckenridge, Colorado came in third with an average home value of $641,900, matching San Diego’s median price of $627,200. (pictured: skiers and snowboarders at Breckenridge Ski Resort)
According to LendingTree, with a population of 34,809, the median household income for Jackson residents is $87,143.
The city of Breckenridge, Colorado came in third with an average home value of $641,900, matching San Diego’s median price of $627,200.
With a total population of 31,042, the median household income is $93,505, the study found.
Located at the base of the Rocky Mountains’ Tenmile Range, the city is also known for its ski resorts and cultural history.
In fourth place came a Colorado city, Steamboat Springs. The median income in the city is $83,725, the survey said.
With a population of 24,899, the median home value is $570,600 – comparable to the average household value in Seattle, Washington, which is $518,000.
In fourth place came a Colorado city, Steamboat Springs. The median income in the city is $83,725. (pictured: downtown Steamboat Springs)
Hailey, Idaho came in fifth with a median household price of $487,600. (pictured: Private jets line up on tarmac to depart Hailey/Sun Valley Airport)
Located in the northern part of the Yampa Valley, Steamboat Springs is home to ski resorts and the geothermal hot springs.
Hailey, Idaho came in fifth with a median household price of $487,600.
Located in the state’s Wood River Valley, the city has a population of 24,912 with a median income of $70,866.
The city is known for its great outdoor life and activities such as cycling, hiking and horse riding.
Other cities that made the list were located in states such as Nevada, Oregon, Alaska, New Mexico Maryland and Texas.