Framingham in Top 10 List of 'America's Most Overpriced Cities'

Forbes recently released its list of “America’s Most Overpriced Cities,” and Framingham landed in the top 10.

The magazine included the Town of Framingham in a metropolitan area that also included the cities of Newton and Cambridge.

Massachusetts had three “cities” in the magazine’s top 10.

The magazine’s ranking looks at housing affordability and other cost-of-living measurements.

Boston/Quincy was listed as #3, higher than New York City at #4.

The Cambridge/Framingham/Newton area was listed as #5.

The median income for the Cambridge/Framingham/Newton area is $100,216.

The 2014, fourth quarter median home sale was $400,000, putting housing affordability at 54 percent, according to Forbes.

Besides paying more for housing, the magazine said in the Cambridge/Framingham/Newton area residents also may more than the rest of the nation for the following goods:

• Groceries: 15.2 percent higher than national average
  
• Utilities: 23.4 percent
• Transportation: 9.3 percent
• Health: 21.4 percent

The median income for Boston area, according to the magazine, was lower at $87,317 but affordability for homes was higher at 53.6 percent of homes.

Essex County in Massachusetts was listed as #9, in the magazine’s list.

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The top 10 most overpriced cities:
1. Honolulu
2. Southern Connecticut
3. Boston/Quincy
4. New York City area
5. Cambridge/Framingham/Newton
6. San Francisco
7. Oakland
8. San Jose
9. Essex County
10. Bergen County, New Jersey