Money Talk: How Does the Average American Live?
It’s natural to be curious about how other people live and to wonder if you spend more or less than the people around you. Depending on where you live and the cost of living for your area, you might be paying more or less than someone across the country. Where you live doesn’t just affect how much you spend, either.
According to the biggest survey of U.S. health in 15 years, if you live in a rich area, you are more likely to be healthy; on the other hand, if you live in the rural South or Appalachia, you may not be as healthy. Health is not the only thing that differs across America. Americans across the country (and often in the same state) spend different amounts on various expenses.
As of February, the average home sale price was $152,000. The cost of purchasing a house changes depending on the size and neighborhood you want, but it can also drastically change depending on which city you live in within a particular state. The median sale price in Allston, Massachusetts, was $520,000 in 2013, whereas the median for homes in downtown Boston was $2,300,000, even though they are only a few miles away from each other.
Most home prices go up when you are near a major metropolitan area, but this isn’t always true, because most major cities have very popular areas and then less sought-after areas. In Illinois, the average price of homes for sale in Lincoln Park is $1,089,932, but there are also several homes for sale near the $200,000 mark, and prices differ widely across the Chicago area.