Forbes Lists Southern Connecticut As Nation's Second Most Overpriced Area

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Southern Connecticut was rated as the second most overpriced metropolitan area in the country by Forbes.
Southern Connecticut was rated as the second most overpriced metropolitan area in the country by Forbes. Photo Credit: Contributed

FAIRFIELD COUNTY, Conn. -- Ever feel like everything costs too much? Forbes Magazine has rated Southern Connecticut as the nation's second most overpriced area to live in.

In determining what is overpriced, Forbes first weighed median prices for homes sold against median income levels. That determined the percentage of homes that are affordable to residents making the median income. It then looked at the cost of living index  which factored in the cost of food, utilities, gas, transportation, medical expenses and more. 

Finally, Forbes took into account other amenities such as an area's advantages in transportation or health care costs in an attempt to differentiate between "overpriced" and just plain "expensive."

Forbes then weighted these numbers to arrive at their rankings. Honolulu and New York City tied for the top spot with Southern Connecticut coming in just behind them. 

Southern Connecticut is saddled with a very high cost of living index, according to Forbes. Cities in the study with an index of 100 were consistent with the national average. Southern Connecticut, however, had a cost of living index of 121.7. 

For the study, Forbes considered Southern Connecticut to the Metropolitan Statistical Area of Bridgeport-Stamford-Norwalk with a population of 916,829 people.

Rounding out the Top 5 overpriced regions are Boston; San Jose, Calif.; and Long Island, N.Y. 

California dominated the list with nine metropolitan areas making the list. The San Jose Metro area led the way for the Golden State while the Los Angeles area came in at No. 25. 

Click here to read the full article. 

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Comments (10)

How is Fairfield second if there are two locales tied for first?

It's really worse than this report....add in property and income taxes and Ffld county really has a problem!

Try moving to Westchester. You'll get a real taste of property taxes and higher state income tax.

So, it has nothing to do with sheer density of the highest paid bankers and hedge fund CEOs and our proximity to Nyc? Just liberals and high taxes? That's quite a baseless argument and rather myopic.

Of course its a baseless argument..Its coming from a right wing Wacko.

Notice the common thread....liberals and high taxes....

Notice the common thread....right wing wackos and propaganda

What a surprise ... Who would ever had thought this?