Jersey City among top five most expensive cities in the U.S.

April 24, 2012 06:30PM

AOL Real Estate looked at the most expensive and least expensive cities to buy a home in in America, by price per square foot — and came up with some surprising answers. While New York City was, perhaps surprisingly, not included in the set of most expensive, neighbor Jersey City is number five in the nation at an average cost of $299.90 per square foot. The reason is that although the average listing price for a home in Jersey City is a mere $300,000, the average home is only 1,000 square feet.

San Francisco, Washington D.C., Honolulu and San Jose, rounded out the top five, with the title of most expensive city in America going to San Francisco, at an average price of $611,700. Detroit was the most affordable city in America, at $84,900. [AOL]