Living in a major city comes with many perks, such as easy access to amenities and a wide variety of entertainment options. But it also comes with a high sticker price — and living in the country’s most expensive major metro areas is out of budget for many Americans.
The median home price in Irvine, California; San Francisco and San Jose, California is well above $1 million, while median prices in Los Angeles, New York, Boston and Washington, D.C. are above $500,000. But often, if you venture outside of these cities, you’ll find much more affordable housing options.
A recent report by Point2 analyzed the prices of homes in nearly 800 suburbs located within a 30-mile driving distance of the top 20 largest, highest-priced U.S. cities and found that in 11 suburbs, the price per square foot is 60% to 65% lower than in the city.
Here’s a look at the 11 suburbs with significantly more affordable homes than their nearby cities.
