Boston is the seventh most expensive city in the world in terms of housing costs, according to a recent Bloomberg analysis.
The analysis looked at average mortgage payments for 1,000-square-foot homes and rents on three-bedroom apartments—both in city centers and in areas not so close to downtown areas. In other words, the analysis tried to measure how much it costs for a household of four to live relatively comfortably.
As one might expect, U.S. cities such as San Francisco and New York also ran pretty high in the rankings. Those and a handful of other towns—San Jose, Los Angeles, D.C.—normally compete with Boston for the title of priciest in America.
Unlike some of those cities, though, Boston’s costs appear to have risen more sharply recently, according to a report on the analysis. “Boston, Los Angeles ,and Seattle rose most among U.S. cities in the Top 20, with Washington, D.C., dropping.”
Internationally, Toronto, Munich, and Hong Kong led in terms of housing costs. New York was the most expensive U.S. city.