We reviewed hundreds of millions of data points in 2006 to spot the hottest automobile, real estate, and apartment rental trends in major cities throughout the United States. Below are a few snippets that we found interesting. There’s a whole lot more in store in the city reports.
Chicago is indeed the American Heartland. Chicago residents favor more American-branded cars than any other city. When it comes to real estate, Chicago residents can breadth easily; rental and real estate prices seem quite stable.
Los Angeles real estate prices are high- even higher than New York City. Rental prices, while modest, have climbed quickly. On balance, it seems that real estate prices may soften. Also, counter to popular wisdom, Los Angeles is not the nation’s largest car market (New York City is).
You can get a deal in New York City! While the New York apartment rental and real estate markets are some of the most expensive in the nation, not true when it comes to cars.
Hop the Amtrak to New York City to buy a car as Phildelphia has one of the priciest used-car markets in the country. While you may not want to buy a car in Philadelphia, real estate is priced reasonably and bucking national trends.
San Francisco is the city for big spenders. Real estate prices beat all other major cities and rentals were not far behind. When it comes to cars, San Francisco is the only city with three luxury models in its top ten list with the BMW 3-Series grabbing the #1 position.
You can score a deal on a sedan in Washington D.C., but not on an SUV. While sedans generally ran $500 less than their equivalents nationally, SUVs cost over $1,000 more! With respect to real estate, while Washington, D.C. has experienced a softening market over the past two quarters, brighter times may be ahead.
What are you most likely to find inside the garage of a Bostonian? A Jeep Grand Cherokee, which is the most popular car in Boston. An interesting choice, perhaps, in the face of rising gas prices. And gas prices aren't the only thing going up in Boston: rental prices have risen 13% over the last two quarters, as real estate prices adjust downwards. Will they going to continue to go down?