Newport Beach Among Most Expensive Places to Live

Newport Beach ranks among the most expensive places to live in the nation, according to an annual housing affordability survey by Coldwell Banker Residential Affiliates Inc.

Newport Beach ranked eighth most expensive in the survey, which measures the average price of a home with four bedrooms, a family room, 2 1/2 baths and a two-car garage. In Newport Beach, this home cost $500,313, down from a price of $519,666 last year.

Dana Point, where a similar-sized house cost $266,500, was the only other Orange County community to show up among the 50 most expensive cites, ranking 49th.

Beverly Hills ($766,250) beat out Greenwich, Conn. ($663,000) as the most expensive city.

The most affordable city was Oklahoma City, where a buyer would pay $99,333 for the average home, followed by Fort Worth, Texas ($104,466) and Tulsa, Okla. ($110,600).