Hoboken, New Jersey is the priciest city in the country, according to a new ranking by Forbes magazine.
The New Jersey city is on top of a list that includes cities including Los Angeles, Dallas, Austin, San Francisco and San Diego.
The ranking was based on the cost of living for each of the five cities, which was calculated using a variety of factors including home values, property taxes and median home prices.
The rankings were released Wednesday.
The top spot goes to Hoboken with a median home value of $4,817, a number that is more than four times the national average of $3,622.
Hoboken’s median income is $67,800, according the New Jersey Department of Economic and Community Development.
New York, home to the city’s two major financial institutions, is ranked second on the list with a value of nearly $4 million, with the median home price of $2,000.
The next most expensive city on the Forbes list is Santa Ana, California, with a home value that is $1,527, with median home values of $1.6 million and median income of $63,000, according Forbes.
The rankings are based on a total of 527 cities and metropolitan areas, with an average value of more than $10 million, and a median value of about $11 million, according.
Forbes magazine said the average cost of owning a home in each city was $8,000 to $12,000 a year.