An obscure town in Massachusetts has the highest real estate values, surpassing some of the largest cities in the US
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 Credit boomfound that the median home value in the quaint town is $857,600 — which is, on average, 8.57 times higher than the area’s median household income.
The median household income of 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 were also on the list and said to be expensive because they are common vacation destinations and home to “affluent 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 were also on the list and said to be expensive because they are common vacation destinations and home to “affluent individuals.”
The median home value in the quaint town is $857,600, which is an average of 8.57 times higher than the area’s median household income
“These types of buyers can buy up a city’s limited housing supply and drive up house prices, making housing difficult to afford for locals who do not have high incomes,” the study said.
Vineyard Haven is known for its maritime views and history, shopping, small businesses and restaurants.
According to Boston.comthe city 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 study.
Home values in Jackson, Wyoming came in second, with a median value of $670,100.
Located in the state’s Jackson Hole Valley, the city is known for its ski areas and proximity to national parks, state lands, national forests and the national elk refuge.
The study found that home prices in Jackson are comparable to the median 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 areas and proximity to national parks, state lands, national forests and the national elk refuge. (photo: a house in Jackson Hole)
The city of Breckenridge, Colorado came in third with a median home value of $641,900, which is comparable to San Diego’s median price of $627,200. (photo: skiers and snowboarders at Breckenridge Ski Resort)
According to LendingTree, the median household income for residents of Jackson, with a population of 34,809, is $87,143.
The city of Breckenridge, Colorado came in third with a median home value of $641,900, which is comparable to 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 Tenmile Range of the Rocky Mountains, the city is also known for its ski resorts and cultural history.
In fourth place came a city from Colorado, Steamboat Springs. The average income in the city is $83,725, the study said.
With a population of 24,899, the median home value is $570,600 – comparable to the median household value in Seattle, Washington, which is $518,000.
In fourth place came a city from Colorado, Steamboat Springs. The median income in the city is $83,725. (photo: downtown Steamboat Springs)
Hailey, Idaho came in fifth place with a median household price of $487,600. (photo: Private jets lined up on the tarmac to leave Hailey/Sun Valley Airport)
Located in the northern part of Yampa Valley, Steamboat Springs is home to ski resorts and geothermal hot springs.
Hailey, Idaho came in fifth place 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 extensive outdoor life and activities such as cycling, hiking and horse riding.
Other cities on the list were in states such as Nevada, Oregon, Alaska, New Mexico, Maryland and Texas.
