HONOLULU (KHON2) – If your goal is to become a homeowner in 2023 you might want to save up.
According to a new study by MyeListing.com Honolulu is the fifth most expensive city to live and work in.
MyeListing looked at all major cities in the United States and found the average home value in Honolulu came out to $860,000. A one-bedroom apartment in Honolulu costs on average $2,000 to rent.
Most expensive cities to live and work in:
- Manhattan, New York
- Boston, Massachusetts
- Los Angeles, California
- San Jose, California
- Honolulu, Hawaii
Honolulu is known for the beautiful beaches, picture-perfect weather and lively nightlife that contribute to the costly price tag of renting or owning a home.
Honolulu also has one of the highest state tax rates in the country, which should be considered when thinking about moving to the state and looking at upcoming finances.
What’s going on around the globe. Find out in International News
For more information about this study head to MyeListing’s website.