According to the Zumper National Rent Index, the cities with the highest rent in the US are New York City at $4,200 for a one-bedroom, followed by Jersey City and San Francisco.
In recent years, rental costs have increased in several American cities. The shortage of available housing, the shifting demographics of the workforce, and the obstacles to becoming a homeowners have all contributed to the rise in rent prices.
The top 10 American cities with the highest rental prices as of May 2024, according to the Zumper National Rent Index, are depicted in this image by Bruno Venditti of Visual Capitalist. These are for one-bedroom flats alone.
NYC Prices: $4,200 for One-Bedroom
With an average monthly cost of $4,200 for a one-bedroom apartment, New York tops the list. Living in the Big Apple can be competitive due to great demand, in addition to its high cost.
In New York, renters can spend over 40% of their salary on housing, compared to half of all renters in the United States who spend more than 30% of their income on rent.
Jersey City, located over the Hudson River, comes in second, with one-bedroom suites costing $3,330.
San Francisco tops the West Coast with $2,950 for a one-bedroom apartment. Of the ten most expensive cities to rent, California is home to four of them.
A Harvard University study claims that the pandemic has made the country’s housing affordability situation worse. Due to high building costs and market dynamics, lower-income households will continue to have difficulties, even though renters in the medium and upper-income brackets may see some respite from the high-end market supply.
Recently, GreatGameIndia reported that according to data from the American Lung Association’s State of the Air report for 2024, Bakersfield, CA, and Visalia, CA, top the list of the most polluted cities in the US.
