That is so variable according to location when it comes to housing cost.
Costs come from the State to local area within a State, proximity to Universities, major industry as well as major retailers and tourist attractions.
Many things can run housing costs up besides market value assessments, tax assessments, crime levels, education levels etc.
For rent it is the same as home ownerships.
Not everybody wants to live near or around any of the things that drive housing costs up hyper inflated high.

It is State issues whether city within the State or what ever. Most comes from unemployment out of proportion and increased population on top of it.
Centralizing all revenue around one or a few productive things while letting all lower valued employment or production ares just decline out.
Doing so for cheaper replacement laborers while cost of living is based on what by majority population is not apart of.

Imbalance and unsustainable for a lot of the population.
State, city, county and town mismanagement as a whole.