California metro areas dominated the top spots for highest median rent, while areas around the Sun Belt were most affordable.
However, financial experts warn consumers about some of the unexpected expenses.
"Probably the most overlooked hidden cost is when you are looking for the next job," said certified financial planner Michael Hansen, co-founder and managing partner of Frontier Wealth Strategies in Walnut Creek, California. It may be appealing to move to a cheaper state to work remotely, but telecommuting may not be possible for your next role, he said. Before moving, you should consider your new city's job market and possible in-person job opportunities.
"What you might save in dollars, you may lose in connection, collaboration and community," said CFP Eric Roberge, who recently decided to move back to Boston after living in a lower-cost area. "Although you can't necessarily quantify that and put it in a spreadsheet the same way you can a budget with a rent or mortgage payment, being with your people is absolutely worth something," said Roberge, founder of financial planning firm Beyond Your Hammock.
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