Miami Among America's "Most Overpriced Cities"

Categories: Listicles
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In news that will shock no one who eats out on South Beach, parks in Brickell or tries to buy some influence with the Miami-Dade County Commission (those lobbying fees ain't cheap!), Miami has been honored this morning as one of the most overpriced towns in the nation.

High unemployment, skyrocketing cost of living, expensive housing and the inability of residents to resist those Russian models waving menus around tourist traps on Lincoln Road are all cited in the report. (OK, maybe not that last one.)

Miami ranked third on Forbes' list, clocking in behind only Los Angeles and Fresno.

To calculate where living is "overpriced," Forbes started with the 100 largest metro areas in the States, then crunched housing affordability, cost-of-living, the average paycheck and the area's unemployment.

Miami's numbers easily bumped it into the top three, with unemployment still over 10 percent, a median college-grad salary of $55,000 and a relatively high average cost for food and rent.

Forbes is more methodical than some of the other traffic-baiting list makers out there, but their choice of data in this project did lead to some odd results. (Fresno is really more over-priced than San Francisco? And McAllen, Texas is in the top five?)

But on a list so reliant on unemployment and property costs, it's no surprise that Florida pulled in three of the top ten slots, with West Palm coming in sixth and Bradenton ninth.

Here's the top ten, according to Forbes:
  1. Los Angeles
  2. Fresno
  3. Miami
  4. McAllen, Texas
  5. Providence, Rhode Island
  6. West Palm Beach
  7. El Paso, Texas
  8. Honolulu
  9. Bradenton, Florida
  10. San Jose

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11 comments
Louie1com
Louie1com

Hi folks I'm from los Angeles and I'm a realtor and yes it is expensive here and getting more ! L.a. growing fast because of rich asians and europians coming to town , l.a. in its books has 20 new skyscrapers being built now including one of the highest towers in the USA ,l.a sky line will be diffrent in 5 years

Angela Garcia as NeonMosfet
Angela Garcia as NeonMosfet

New York City is the 51st State Hopeful, Wall Street, state capital. As such it doesn't qualify as a US city. 

Angela Garcia as NeonMosfet

dlee922
dlee922

new york should be on here

Guest
Guest

It's why I left. So long, suckers!

John Slocum, Vancouver
John Slocum, Vancouver

My sister just returned from a vacation to Miami, and did comment on everything seemed quite expensive.

Jim Camp
Jim Camp

It wouldn't seem so bad if traffic would just move. There's something about filling up your gas tank with $ 80-100 of gas and then getting onto the Palmetto to wind up sitting in gridlock as it idles away in Miami Lakes, Hialeah and Doral. Yep, I called those locations out, because it's not like it's a scenic cruise down the PCH in CA or even A1A here in FL. Dumpy, nasty cities where burning gas at $ 3.50-4/gallon just isn't worth the price of admission. Other areas where the citizens are challenged to get out of their own way are I-95 (you name the area top to bottom), Then there's Coconut Grove with US 1. And let's see South Beach has roads that I'd say you'd be better off bicycling, but even there, you might get run over. All it takes it a single motorist or even a couple/few of these idiots to stop on a highway. Certain times of the day, going thru these townships isn't a hardship. It should always be like that, there is no reason to EVER stop on a highway. Just look at those that did on I-75 near Tampa last weekend. Driving thru that smoke clouded area with no visibility & blind had a better chance of survival than stopping. If your car breaks down, get off the main roads and to the side, it's why those areas are paved. And if you aren't going to go, get out of the way so the rest of us can get to where we need to go. And I really don't care who called you or that you had to call on your way home. that's your personal life, make sure it doesn't infringe on every body else's time and life. Being inconsiderate is multiplying the waste. You waste time, you wind up wasting time & resources of everyone that had the misfortune of being behind you.

Selda K
Selda K

Hard to believe that we are #3 while there are more expensive cities like San Francisco, NYC, etc are not even on that list.

-------------------------------------http://miamiforeclosures.org

Rigoberto De La Portilla
Rigoberto De La Portilla

bring the farm lands back to Miami!

What I am waiting for is some lower land prices so i can buy myself a couple of acres and just live off the land ^_^

Check out my site: www.rigotech.net

Buddy Love07
Buddy Love07

New York can actually support its high cost with reasonable paying jobs...

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