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Stamford Named Country's Fifth-Most Expensive City To Live In

Stamford is the fifth-most expensive American city to live in, according to a new study.
Stamford is the fifth-most expensive American city to live in, according to a new study. Photo Credit: Stamford-Downtown.org

STAMFORD, Conn. -- A new study by finance magazine Kiplinger's has ranked Stamford as the fifth-most expensive city in America to live in.

Stamford was included on the list, alongside much larger cities such as New York, San Francisco and Washington, D.C.

The study reported that Stamford has a median household income of $76,797 and a median home value of $537,300.

Stamford is is ranked as expensive because of the high cost of living, which ranges from 8 percent to 27 percent above average. Housing costs alone are nearly double the national average, according to the report.

As expensive as Stamford is, however, it's more affordable than living in the most expensive city on the list, New York, to which many Stamford residents commute.

Click here to read the full Kiplinger's report .