Move over San Francisco — the Big Apple tops Silicon Valley as most expensive place to live in the United States, a new study shows.
Per square foot, real estate in Manhattan is the most expensive in the United States, with the average property in the borough eclipsing all other locals. Based on that metric, some city properties even top $10,000, according to a report published Thursday by real estate and data analytics firm NeighborhoodX.
That beats San Francisco — widely viewed as one of the frothiest housing markets in the country — by a mile, the data revealed. In fact, real estate in New York City’s central borough is more than twice as expensive as any other neighborhood in the US when measured on a per square foot basis, the report shows.
Manhattan real estate is an average of $1,773 per square foot, according to NeighborhoodX. The next most expensive area on a per square foot basis is San Francisco, which averages $902 per square foot. That’s followed by Boston at $586 per square foot, Washington D.C. at $515 and Miami Beach at $504.
Of particular note, the most expensive property in Manhattan is $10,054 per square foot, with just a handful of ritzy units commanding that astronomical sum, the report said.