The Most Expensive City In America

Can you guess the most expensive city in America? I would have guessed maybe Honolulu, or somewhere in the Hamptons of New York. But I would have been wrong.

There are a few select cities in the United States that were not affected by the housing crisis. Aspen, Colorado definitely tops the list of expensive locales easily.

The median home price in Aspen is $4.6 million. Even a trailer house there will set you back on average $599,000. A condo can be had for a little less, but it's hard to figure out how many of those are permanent residences. There are a lot of 'vacation homes' in Aspen.

Why is it so high? The Wall Street Journal points to the fact that it's a small market, and due to zoning laws, it remains pristine. Only 13 percent of land is allowed to be developed, so the real estate that exists comes at a luxury premium. Check out some beautiful photos and video where I sourced the info at realestate.msn.com .