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LA: Cheaper than Bridgeport, CT

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Somehow Bridgeport, Connecticut (median home price: $370,000) and Newark, New Jersey are more expensive in the housing department (ownership) than Los Angeles (median home price: $319,000), according to a new study by the Center for Housing Policy, which ranked the most expensive metro areas in terms of both renting and owning. Here's how Los Angeles ranked in 2008: The city was 10th in 2007 and was 16th in 2008 on the list of the most expensive cities to own. San Fransisco and New York, respectively, are the most expensive cities to own. The least expensive metro area was Youngstown, Ohio, where the media home price is 73,000. Download the file here. In terms of renting, you will pay more for our delightful weather and traffic. The city was 12th on the list of most expensive rental markets in 2007, and is now 8th (New York is 13th). Really? All the info can be found via this link. [CHP]