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1. Manhattan, N.Y.

No surprise here: Manhattan is the most expensive urban area in the United States. It's also the most densely populated and considered a financial hub, both factors which contribute to its high home values.

The average home in Manhattan sold for more than $1 million, relatively unchanged from one year ago. That's a lot of money, but when you consider the median asking price for a home is nearly $2 million it is actually quite a discount.
(iStock Photo)

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