San Francisco, New York, and San Jose Are the 3 Most Expensive Rental Markets in the U.S. – Curbed
Zumper, an apartment rental startup, has released its latest National Rent Report ranking the median rent of a one-bedroom home in the 100 largest U.S. cities by population, and it comes as no surprise that four of the top 10 highest rents continue to come out of metros in California.
San Francisco continues to be host to the highest median rent at $3,510 a month, even though the price of one-bedrooms declined in June by about 2.2%. Coming in at number two, New York City’s one-bedrooms also saw a slight dip of 1.8%, with median rent at $3,190 a month.
The cost of one bedrooms in San Jose, California, which displaced Boston as the third most expensive market last month, is holding steady at $2,280 per month, compared to $2,250 per month at the end of the previous quarter. Rents in Oakland, California are up over the year at about $2,270 a month. Boston’s one-bedrooms continue to see lower rents, now at $2,230 a month, compared to $2,390 at the beginning of the year.
The rental markets in San Diego, Atlanta, Dallas, Lexington, Kentucky, and Albuquerque, New Mexico, have all seen bumps in the cost of one- and two-bedrooms, while prices have been quieting down in Baltimore, Anchorage, Alaska, San Antonio, Des Moines, Iowa, and El Paso, Texas.
Zumper analyzes rental data from over 1 million active listings across the United States to create its reports. Have a look at the chart below, and head on over to Zumper for the full picture.