Portland, SoPo make list of ‘least desirable’ places to live on a salary of $100K
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Portland was voted the 7th best metropolitan area to live in the country by U.S. News & World Report.
As home prices remain high and affordable housing is in short supply, two Cumberland County cities and a city in York County made a list of "least desirable" places to live in the country for those making $100,000 a year.
Portland ranked No. 55, South Portland was No. 59, while Biddeford made the lower tier of the table at No. 128. The survey was conducted by CouponBirds, which asked 3,000 people: "which of America's 150 most expensive cities would you least likely to live in if earning a salary of $100,000?"
Palm Beach, Fla., emerged as the least-desirable city to live in because of "its exclusive location, the high cost of real estate, high cost of goods and services, and high property taxes." The second-least desirable location was Wailea in Hawaii, due to the limited housing supply. Also, the cost of utilities, transportation and other necessities is generally higher in Hawaii than elsewhere in the U.S.
Hilton Head Island and Isle of Palms in South Carolina; New York City; Malibu, Calif.; and Bellaire, Texas, were among the other least desirable places to live.
However, Portland did rank above Sagaponack, N.Y., in the Hamptons on Long Island, and Snowmass Village in Aspen, Colo.
Portland received its ranking from its location as a popular tourist spot, which drives up the cost of housing, food and other amenities. Portland is home to arguably some of the best restaurants and gourmet food shops on the East Coast, typically quite expensive. The city's location provides local restaurants with fresh seafood and fresh local produce.
According to a Mainebiz story published in January, Portland ranked No. 1 on Travel + Leisure magazine's "10 best places to live on the East Coast." Travel + Leisure says it looked for places that offered "the highest standard of living and a wealth of recreational opportunities."
Although Portland may be a great destination due to its recreational opportunities, working waterfront, high-end restaurants, low crime rate, and signature destination, the reality of the housing crunch is an ongoing issue people are facing.
For 2022, the median sales price of a house in Cumberland County, which includes Greater Portland, was $491,723, up 13% from $434,900 in 2021. At the same time, the number of homes sold in 2022 dropped by 17%, indicating higher interest rates and tight housing inventory, according to Maine Listings and the Maine Association of Realtors.
South Portland, which provides access to scenic waterfront areas and beaches and its proximity to Portland, received its ranking due to the cost of living being relatively high compared to other cities in Maine. The limited supply of housing units in the city center also contributes to higher housing costs.
Even though Portland and South Portland received the lower end of the stick, Biddeford, which has been up and coming over the past couple of years, came in at the lower half of the list, making it a more desirable location.
Biddeford received its ranking due to the lower cost of living than the national average, making it an attractive option for those looking for a more affordable place to live.
According to Realtor.com, the median listing home price in Biddeford was $389,900 in February 2023, trending up 11.6% year-over-year.
Biddeford offers many advantages, including its proximity to the coast, a strong sense of community with many events being held throughout the year and a historic downtown area that has been updated due to the town's revitalization efforts. The downtown has many restaurants and shops and a new hotel, the Lincoln, which opened last fall.
To see where other cities were ranked, click here.
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"CouponBirds"? Not exactly Gallup.
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