Most stressful cities in the USA

America's most stressful cities - Forbes article

1. Chicago, Ill.
With 7.3% unemployment and a gallon of gas going for just under four bucks, the Windy City has some economic headwinds that result in a perfect storm for stress. Chi-town’s pollution problems (it ranked No. 7 in terms poor air quality) and lack of breathing room (it's No. 2 in terms of population density) couple to create a Midwestern Molotov cocktail of stress.

2. New York, N.Y.
New York City has the third least affordable housing when you look at local mortgages versus income, making it tough to get ahead. Whether you rent or own, you won’t have much space unless you are rolling in dough. The Big Apple is packed to the core, coming at No 1. in terms of population density with in 786 housing units per square mile. You can smell the ambition in this city, but you might smell something else. New York had the ninth worst air quality of the 40 major metro areas we looked at.

3. Detroit, Mich.
Detroit used to thrive as the epicenter of the American auto industry. But massive layoffs at Ford and General Motors contribute to a 9.4% employment rate, the highest in the e country. What's more, the industry that is now cutting jobs probably won’t offer to fix the pollution it created. Detroit was No. 9 on our ranking in terms of air quality. On the upside, the slack demand for homes has made housing cheap. Detroit has the second most affordable homes relative to income in the country.

4. Los Angeles, Calif.
Individuals living in the City of Angels deal with a 7.5% unemployment rate, the second least affordable homes relative to income in the country and the worst air quality in the country. Los Angelinos also have to fret about health concerns and often need to stay indoors when the smog gets really bad. Throw in expensive gas and this car-dependent city has a lot to stress about.

5. San Francisco, Calif.
There are 7.2 million residents in the City by the Bay, and they’ve got cause for stress. San Francisco ranks as the fourth least affordable city in terms of housing relative to income, and its citizens pay more per gallon of gas than anywhere else in the country. Tack in 359.8 housing units per square mile, the ninth highest population density of the 40 major metro areas we looked at, and you’ve a recipe for anxiety.

6. San Diego, California
The Southern California city known for its sunny Mediterranean climate, rich naval history and Latin flavor thanks to the border it shares with Mexico has got a problem: Its homes cost too much for those looking to buy, which makes it tough for residents to take out a mortgage and get ahead. This affordability issue has lead to a lot of buckled mortgages--a major source of stress for residents and local businesses. San Diego’s 6.4% unemployment rate, the tenth highest in our ranking, doesn’t help either.


7. Cleveland, Ohio
8. Salt Lake City, Utah
9. Providence, R.I.
10. Philadelphia, Pa

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La Jolla - most expensive community in America

The best places in San Diego blog just posted this article on La Jolla being named the most expensive community in America (in a study done by Coldwell Banker).

The article is here but what I found interesting were the comparisons between California and other states, and the USA to other countries and cities in those countries.

I have no idea where or how they got their data but in figures I've seen before I had no idea there was such a huge price gap between Sydney and Perth, or that Shanghai was that expensive for housing! Interesting... hmm...

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Potential expat Aussies with the greenback blues

An interesting report by the Sydney Morning Herald



Interesting article. I love the chart comparing prices!

July 29, 2008

FOR decades it has lured some of Australia's best and brightest to foreign shores - drawing them with the promise of spending power that made their local currency look weak.

But the US greenback is being challenged by the Australian dollar, and it is making expatriates think twice about where to pitch their tents and what they can afford to put in them.

Recruitment agencies, expatriate organisations and industry groups say working in the US may not carry the attraction it used to for Australians.

Some are choosing instead to go to Europe, others are seeking different salary packages, while a few are even asking to be paid in Australian dollars.

"Roughly a third of Australians who emigrate do so primarily to increase their income, so the value of the US dollar is definitely a consideration," said Daniel Tehan, director of trade and international affairs at the Australian Chamber of Commerce and Industry.

"There are a whole range of factors which influence the decision about where to work, but if you can make twice as much because of the exchange rate in Europe, you would have to take that into account."

Australian Bureau of Statistics figures show that although the US remains one of the most popular destinations for Australians wanting to live overseas, the number of new arrivals is declining. About 340 fewer Australians travelled to the US to live in the past year than did so in the 12 months before.

The number moving to Britain rose by 780 over the same period, while those bound for China rose by 264. Those who do go to the US are asking for higher salaries to compensate for the poor exchange rate or leaning more towards packages with housing and holidays.

"You do hear about people asking for the car, the rent, the childcare rather than a straight salary," said Tim Oberg, Europe manager for the Australian expatriate organisation Advance.

"We joke that America is the new Thailand: a great place for a cheap holiday."

Expats in the US whose pay cheques come from home are revelling in the spending power. It is cheaper for an Australian to live in San Francisco than here.

A comparison of the two cities shows both have had soaring rents and house prices in recent years, with San Francisco's median house price of $500,000 not far behind Sydney's $550,000. Median household incomes are even closer, with Sydney ($63,000) slightly behind those in the US ($65,000).

But the price of petrol, luxury items, clothing and alcohol in the US has turned San Francisco into a bargain basement for Australians.

Judith Scrimshaw, who moved to San Francisco from Perth in February and is paid in Australian dollars, said many items were much cheaper: "You can buy a Revlon lipstick for $5 which would cost you $18 in Australia."

On the other side of the coin, another expat, Tim O'Connor, is paid in US dollars and would think twice about doing the same again: "A lot of Australians want to come to the US, make some good money and go home; it wouldn't make sense to do that with the current exchange rate."

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America's Increasingly unaffordable cities

America's Increasingly unaffordable cities

America's Most Expensive Cities

1. New York, N.Y.
2. Los Angeles, California
3. Miami, Florida
4. Honolulu, Hawaii
5. San Francisco, California
6. Chicago, Illinois
7. White Plains, N.Y.
8. Houston, Texas
9. Boston, Massachusetts
10. Washington, D.C.

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The cost of living

Reuters writes that Moscow's living costs are now 1.5x as expensive as New York City's. It then goes on to say...

Mercer said currency trends accounted for many of this year's shifts in city rankings, with the rouble, euro, and several other currencies all gaining against the U.S. dollar and making U.S. cities in general seem comparatively cheaper.

"On the bright side, the U.S. dollar's loss of value may serve to attract globally mobile executives to business centres such as New York, Chicago and Los Angeles," said Mitch Barnes, another principal at Mercer.

"The difference in cost of living can be significant, particularly for those executives with families," he said.

Time and time again I've read that San Diego is an 'expensive' city but coming from Sydney, I barely bat an eyelid. Also with the US Dollar going down, there has never been a better time to move there!

Mercer's 2008 report puts New York City at position #22 on the cost of living chart. It is beaten by (in order) Moscow, Tokyo, London, Oslo, Seoul, Hong Kong, Copenhagen, Geneva, Zurich, Milan, Osaka, Paris, Singapore, Tel Aviv, Sydney, Dublin, Rome, St Petersburg, Vienna, Beijing and Helsinki.

So given NYC is the most expensive place to live in the US, the fact that San Diego is still considered 'expensive' doesn't worry me in the slightest. Getting a decent-paying job is the main aim, and then the cost of living shouldn't matter as much... right? Afterall, it's all relative!

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Your first apartment - How much will it cost?

I just found this basic guide for housing costs. The article is aimed at college kids but nevertheless useful for any newcomer to a different city! It also contains a link to a great rundown on the credit score I just talked about.

Your First Apartment: How Much Will the First Month Cost?

Application
approx $30 to $50 per app

Your landlord-to-be won’t just take your word that you’re good for the monthly rent-you have to fill out a formal application AND pay a fee so they can check your credit rating. (See, I told you your credit score would be important).

First Month’s Rent
varies by location and apartment size
Oh the joy of scraping together a month’s worth of rent before you even move in (you’ll probably have to pay this well before your move-in date!). Hopefully you’ve saved your summer earnings, because this could be a sizeable bill.

My first off-campus apartment-a 2br/2ba in San Diego-cost $1,600/month. That meant that I and each of my 3 apartment-mates had to cough up $400/mo. But then again, San Diego is one of the top 10 most expensive cities to rent in,, so unless you’re living in New York, LA, or another metropolis, you probably won’t be paying that much.

Check out sites like Rent.com, ForRent.com, and Craigslist.org to get an idea of average pricing for rentals in your area.

Security Deposit
approx same cost as one month's rent
This is basically security for the landlord–this fee is for any damage you do to your apartment over the course of living there. If you take good care of your apartment, you will probably get a good portion of this amount back.

Last Month’s Rent
same as first month's rent
Most apartment complexes in my area don’t charge this, but every once in a while you’ll come across a lease agreement that requires you to hand over the last month’s rent early, too. Personally, I’d recommend looking for an apartment that doesn’t require this fee upfront.

Utility Deposits
In addition to monthly bills, utilities and such like gas, electricity, water, trash service, internet, phone service, and cable all tend to require start-up fees. Some cable, phone, and internet companies will waive your start-up and installation fees, so be sure to ask them to when you sign up!

You can probably expect the following amounts for the rest of your start-up fees: For gas and electric, you can approximate about $75/ea, trash service will vary (and is sometimes included in your rent). For more realistic pricing for your area, check with your landlord.

Parking Fee
You may also have to pay for a parking sticker or parking space assignment. Usually this is a one-time fee, but in larger cities you may see a monthly fee for parking.

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Least affordable cities in the US for housing

Link

Interesting info.

Least affordable: Los Angeles
Second least affordable: San Francisco
3. Santa Ana, CA
4. New York City, NY
5. Ventura, CA
6. Nassau, NY
7. Miami, FL
8. Riverside, CA
9. San Diego, CA
10.Modesto, CA

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Housing price statistics

Link

* San Diego’s high housing prices, coupled with its relatively low wages, make it the 6th least affordable major metropolitan area in the country. (National Association of Home Builders, 4th quarter 2006)

* San Diego’s Purchase Prices

Overall median home price (new and resale, attached and detached) . .$472,000
Average price of a new detached home. . . $835,794

Single-family resale home median price . . . $540,000

Resale condo median price . . . $380,000

Median price for newly-built houses, condos and condo conversions . . $395,000

National median home price . . .$220,000

(The San Diego Union-Tribune, 2/15/07; DataQuick Information Systems; MarketPointe Realty; National Association of Realtors)

* The minimum annual income needed to afford a one-bedroom apartment in San Diego is $48,200. (The San Diego Union-Tribune, 1/10/07; National Housing Conference Center for Housing Policy, “Paycheck to Paycheck”)

* About 13 percent of the work force earns less than $8.35 per hour, according to the San Diego Association of Governments. New professionals are among those who have a hard time affording to live in San Diego, and may be tempted to move elsewhere to buy better housing with their salaries. (The Daily Transcript, 9/6/06)

Interesting! And... erm... kinda depressing.

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Cost of living

After doing some research and asking some people I am pleased to discover the cost of living is lower than my hometown Sydney - which is a big huge relief! Yay!

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