If you live in a metropolitan area with high housing costs, a short hop can add up to major savings. Here are five examples:
If you live in : New York City...
where the median home value is: $455,300...
and you move: 90 miles away to Allentown, Pennsylvania...
where the median home value is: $135,400...
you could pocket this difference*: $319,900
If you live in : McLean, Virginia...
where the median home value is: $859,000...
and you move: 65 miles away to Winchester, Virginia...
where the median home value is: $228,800...
you could pocket this difference: $630,200
If you live in : Seattle, Washington...
where the median home value is: $424,600...
and you move: 30 miles away to Tacoma, Washington...
where the median home value is: $226,300...
you could pocket this difference: $198,300
If you live in : Highland Park, Illinois...
where the median home value is: $542,000...
and you move: 40 miles away to Woodstock, Illinois...
where the median home value is: $205,800...
you could pocket this difference: $336,200
If you live in : Boulder, Colorado...
where the median home value is: $410,200...
and you move: 15 miles away to Longmont, Colorado...
where the median home value is: $251,200...
you could pocket this difference: $159,000
Source: Bestplaces.net
Notes: *Figures assume home to be sold is owned free and clear and does not include transaction/closing costs. Bousing data is current as of first quarter, 2011. Median home-value data is derived from local and state Realtor and MLS databases, local county deed records, National Association of Realtors and the Federal Housing Finance Agency.
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