I'm not sure of that for a variety of reasons. Labor is more expensive in higher cost areas. Elevators in a skyscraper are built to a much more stringent code than elevators in a three story building. Building codes in general may be higher. Quality of materials and fit and finish may be higher with higher maintenance costs. There may be more regulatory hurdles to making any new construction or renovations. HOAs may include real estate/other taxes and mortgage interest payments in some cases. Tons of little things can add up.