Tuesday, June 27, 2006

8th Most Expensive City? Not Really

by Osman Parvez


The Daily Camera and Rocky Mountain News are reporting on a new study put out by the publishers of the Economist placing Denver as the 8th most expensive city in the United States. That's ahead of Boston if you exclude housing



Huh??

Housing represents a big chunk of a typical family budget and excluding it makes this survey meaningless. I think these type of surveys should factor in the cost of housing and transportation for neighboring suburbs as well as the main city. In many areas surrounding Denver, for example areas within a 30 minute commute, 3BR starter homes can be purchased for about $300,000 (Broomfield median YTD $271K, Lafayette median YTD $315K). Try that in Boston, a city ranked as less expensive than Denver and where I lived for a short time. The cost of housing in Boston, Cambridge, Medford, Somerville, Arlington, and Newton (even a few years ago) was eye popping.





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