Despite proclamations that the American economy is stronger than ever, working-class Americans’ bank accounts don’t lie.
inflation continues to advance The value of the dollar (and the net worth of those paid in dollars), but inflation does not unleash its wrath evenly. researchers compared We looked at several major metropolitan areas to determine which Americans are feeling the effects of inflation most acutely.
1. Miami – Fort Lauderdale – West Palm Beach, Florida
The Miami area had the largest month-over-month increase in consumer price index (CPI) among the metropolitan areas measured. CPI measures price changes for various consumer items. May include housing and major food items. If housing is part of the index, it’s no wonder Miami has seen such a large increase in inflation.This region remains one of the most popular immigration destinations in the United States
2. Tampa – St. Petersburg – Clearwater, Florida
There is nothing unique about Florida’s economy that could explain the extraordinarily high inflation in the Tampa metropolitan area. We can only assume that the demand for housing in Florida’s major cities is contributing to the high inflation.of Tampa median home price increased nearly 20% between August 2022 and August 2023showing the earthquake-induced housing demand (and rising cost of living) in the region.
3. Riverside – San Bernardino – Ontario, California
States whose economies are heavily dependent on the service industry, including California; Resilience decreases in times of economic hardship. Business owners may have the same operating costs but sluggish sales, so they may raise prices to reduce losses. Additionally, California is a notoriously expensive state, with high taxes compounded on top of the rising cost of living.
4. San Diego – Carlsbad, California
Southern California has been one of the areas hardest hit by inflation. In the case of San Diego, we have to assume that home price growth is a major driver of inflation.
When the value of the dollar drops sharply, those who can afford to buy property often do so. This causes housing costs to rise. Want proof?of San Diego average home price exceeds $1 million first time.
5. Atlanta – Sandy Springs – Roswell, Georgia
When considering the inflation rate for a particular city, you should consider the following: What recent changes are causing the sudden rise in prices? In most cases, the answer is “house prices.” Atlanta’s housing market is expanding faster than Violet Beauregardeundoubtedly contributing to the rising cost of living in the area.
6. Seattle – Tacoma – Bellevue, Washington
The Seattle-Tacoma metropolitan area has long been one of the most expensive areas in the United States and has maintained its status as an expensive region. The cost of shipping goods to the Pacific Northwest tends to exacerbate supply chain-related price increases. Despite the well-documented problems with homelessness and vandalism; The Seattle-Tacoma area has unique perks that continue to attract residents. (And the cost of living continues to rise).
7. Dallas – Fort Worth – Arlington, Texas
Dallas Area Homes October 2023 sold 18.8% more than the previous month. When real estate values rise, rents tend to rise as well. Before he knew it, Big D had become one of the most inflation-hit cities in America.
8. Washington DC – Arlington, VA – Alexandria, VA
The suburbs of Washington, DC are filled with attractive neighborhoods where wealthy people live. These neighborhoods help explain why Alexandria, Virginia’s housing market is struggling. very competitive. A competitive housing market can result in an inflationary housing market.
Washington DC There are also a significant number of poor residentsand these populations are often hit hardest by inflation.
9. Detroit – Warren – Dearborn, Michigan
Detroit’s housing market has long been part of the joke (you can buy a house for the price of a VCR), but Revival of the luxury housing market It can contribute to a broader increase in real estate values. Also consider that in many poor neighborhoods in Detroit and the surrounding area, limited consumer choice contributes to retailers’ drive-up of “buy it or leave it” prices. is needed.
10. Minneapolis – St. Paul – Bloomington, Minnesota
There’s nothing cold about the Minneapolis housing market, but Increased by 6.6% from the previous year. Landlords may want to be “good for Minnesota,” but they have no choice but to raise rents and take advantage of rising property values.
11. New York, NY – Newark – Jersey City, NJ
Competition for housing in New York and New Jersey neighborhoods is stronger than competition for seats on the subway. In fact, everything seems to cost more in New York City, and residents here feel inflation more acutely than most other Americans.
12. Anchorage, Alaska
The cost of transporting goods from the southern 48 states to Alaska makes the cost of living prohibitively high. Supply chain issues further increase the cost of getting goods to the final frontier. Anchorage Alaska consumers are feeling the pain of inflation just as they are feeling the harshness of Alaska’s winters.
13. Philadelphia, Pennsylvania – Camden, New Jersey – Wilmington, Delaware
Mainly officials Philadelphia’s rising inflation is due to the cost of food and housing and the surrounding community. It would be great if people in cities could find a way to lower the cost of living, as the Founding Fathers knew so well.
14. Denver – Aurora – Lakewood, Colorado
Denver has been through the most. exaggerated increase Housing prices have skyrocketed, making life completely impossible for residents below a certain income threshold. Although the price of new powder is high, Homeowner exodus from Colorado Housing could soon become much more affordable.
15. Los Angeles – Long Beach – Anaheim, California
Los Angeles and unaffordable housing are as connected as surfboards and Laguna Beach.The median home price in Los Angeles is nearly $1 million; Costs increased by 8% between October 2022 and October 2023. Throw in unhealthy taxes and a little inflation can quickly spiral out of control.
16. Houston – The Woodlands – Sugar Land, Texas
If there’s one thing more consistent than the Texas heat, it’s the constant influx of new residents. The addition of new residents to large cities like Houston creates competition for housing, which is perhaps the biggest driver of inflation.
17. Honolulu, Hawaii
Honolulu ranks as the second most expensive housing market in the United States, behind Manhattan. Combine this with the cost of transporting goods to the island, especially during times of supply chain strain, and you end up with relentless inflation.
18. Boston – Cambridge – Newton, Massachusetts
When people think of Boston, Cambridge, and Newton after a college tour, they think of Boston University, Harvard University, and Boston College.
America’s top-rated, vibrant cities are home to a rotating population of college students and housing is always in demand, driving prices up all the time. There’s no tea party when looking for an apartment in Beantown, which is one of the reasons for the relentless inflation.
19. Baltimore – Columbia – Towson, Maryland
Although Baltimore does not rank among the most competitive housing markets in the United States, Our rates are somewhat competitive. Certain areas such as Fells Point and Harbor East Rent is rising at the pace of the marketone of the main determinants of inflation.
20. Phoenix – Mesa – Scottsdale, Arizona
Historically, Arizona has been repopulated by immigration., rather than Arizona-born Arizonans having children and growing up and raising families in Arizona. The steady influx of new immigrants means competition for housing is constantly escalating, giving landlords leverage to raise rents and fuel inflation.
21. St. Louis, Missouri
However St. Louis home prices rose about 4% from 2022 to 2023.St. Louis’ considerable poverty must also be considered. Shockingly high poverty rates in many parts of St. Louis This means residents may rely on payday loans, have few options for purchasing daily necessities, and are vulnerable to the threat of inflation.
22. Chicago – Naperville – Elgin, Illinois
Chicago home prices are actually falling., this city is an outlier on this list.Poverty (correlated with inflation), and perhaps Increase in organized retail theft increases cost of goods That could be a contributing factor to Chicago’s inflationary situation. However, it is still expensive to live here.
23. San Francisco – Oakland – Hayward, California
Few cities demand more from their residents than San Francisco, and nearby cities Oakland and Hayward are more expensive due to their proximity.of San Francisco median home sale price is over $1.4 millionSo even when inflation is under control, prices tend to be unreasonable in the Bay Area.
Evacuate to a cheaper city
If you’re looking for an affordable alternative to cities hit by inflation, consider Hickory, North Carolina, Huntsville, Alabama, Beaumont, Texas, Green Bay, Wisconsin, or any of the following cities. Some other cities famous for their affordable prices In this clearly out-of-reach era.