How Unexpected Costs Affect Housing Affordability

Redfin analyzed the effect that unexpected local costs like utilities, taxes, and transportation have on housing affordability.

Utility costs go beyond remembering to turn the lights off. We looked at the money spent on both electricity and natural gas per household, as well as annual water and other related utility costs. With those utilities combined, the reasonably affordable Providence rose to the top of the list as the most expensive place for energy costs, followed by all Northeast metros. This  demonstrates a regional trend that speaks to the inequality of energy costs. 

They say the only things that are certain in life are death and taxes, and in some places, those certain taxes are more pronounced than others. Major cities known for a high cost of living in California and New York ranked unsurprisingly highest, while tax breaks in more affordable destinations in Florida, as well as Las Vegas, complement overall lower housing prices.

Whether you drive or catch the bus, you gotta get where you’re going, and short of walking, it won’t be free. From gas prices to metro fare, transportation costs stack up highest in California. With its expansive transit system, New York comes in as least expensive, followed by car-dependent cities like Tampa and Cleveland, where commuting costs are less than other major cities.

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