This Oregon small town among the most expensive in the US, new study says

(NEXSTAR) – In hopes of saving some money, most people would think you need to leave the city for a small town out in the suburbs. Well, unfortunately, some of those smaller towns don’t offer that luxury.

A new study done by LendingTree has found the most expensive small towns throughout the U.S.

To find this, LendingTree looked at 50 towns with populations ranging from 10,000 to 50,000 and calculated the median home value-to-income ratio of each town. The larger the ratio, the more expensive homes are relative to an area’s median household income.

Landing at the top of the list as the most expensive small town in the country was Nantucket, Massachusetts. With a population of just above 14,000 residents, the average cost of a home in the town is $1,387,000, with the average household income being just below $120,000. By dividing those two numbers, the median home value-to-income ratio of the town sits at 11.58, according ot LendingTree.

Just below Nantucket was another Massachusetts town, Vineyard Haven, with a median home value-to-income ratio of 10.79. Jackson, Wyoming, followed a ratio of 8.95.

Ranking fifth most-expensive on the list is Hood River, Ore., with a median home value-to-income ratio of 6.96.

Other Oregon small towns which made the rankings include Astoria (#11), Brookings (#19),The Dalles (#27) and La Grande (#45).

Here’s the full list of the 10 most expensive towns to live in in America, according to LendingTree.

Rank	Small Town	Population	Median Home Value	Median Household Income	Median Value-To-Income Ratio	Metro with Comparable Median Home Value
1	Nantucket, MA	14,299	$1,387,000	$119,750	11.58	San Jose, CA
2	Vineyard Haven, MA	20,751	$1,104,100	$102,348	10.79	San Francisco, CA
3	Jackson, WY	35,459	$954,600	$106,679	8.95	Los Angeles, CA
4	Breckenridge, CO	38,268	$706,800	$102,233	6.91	Seattle, WA
5	Hood River, OR	23,958	$571,200	$82,095	6.96	Denver, CO
6	Hailey, ID	31,010	$544,300	$81,389	6.69	Washington, DC
7	Port Townsend, WA	33,313	$495,100	$71,143	6.96	Riverside, CA
8	Steamboat Springs, CO	38,248	$482,300	$93,984	5.13	Salt Lake City, UT
9	Ellensburg, WA	44,736	$459,900	$69,928	6.58	Salt Lake City, UT
10	Los Alamos, NM	19,374	$452,500	$143,188	3.16	Austin, TX

To see LendingTree’s full study and where a small town near you ranks, check out their website.