The Most Expensive Apartment Rents In The U.S.
Rents are rising across the country. Finding affordable living accommodations is getting tougher and tougher it seems. We recently did a study to see which cities across the country have the most expensive rents in primary, secondary and tertiary markets.
Top 10 Most Expensive Cities In Primary Markets
New York ($4,127), San Fransisco ($3,208), San Jose ($2,978), Boston ($2,730), Los Angeles ($2,695), Anaheim ($2,667), San Diego ($2,633), West Palm Beach ($2,368), Newark ($2,350), Fort Lauderdale ($2,345).
Average of the top 10 primary markets: $2,810/Month
Top 10 Most Expensive Cities In Secondary Markets
Nassau County ($2,817), Bridgeport-Stamford-Norwalk ($2,718), Urban Honolulu ($2,621), Oxnard ($2,591), Worcester ($2,086), North Port-Sarasota-Bradenton ($1,949), Manchester ($1,887), Cape Coral-Fort Myers ($1,878), Providence ($1,849), New Haven ($1,833).
Average of the top 10 secondary markets: $2,222/Month
Top 10 Most Expensive Cities In Tertiary Markets
Santa Maria ($2,518), Santa Rosa ($2,402), Vallejo/Fairfield/Napa ($2,316), Salinas ($2,240), Naples ($2,128), Trenton ($1,994), Boulder ($1,940), Crestview-Fort Walton Beach-Destin ($1,846), Portland, ME ($1,841), Stockton ($1,798).
Average of the top 10 tertiary markets: $2,102/Month
It' is no surprise that the costal primary markets lead the nation in rents by a wide margin. With New York topping the list at a whopping $4,127/month for an apartment, the cost of living is significantly higher than the average rent in other metros across the nation.
Renters are flocking to cities that are business friendly with a lower cost of living. This is exactly why our focus here at Momentum Multifamily is on Texas primary markets, with a heavy emphasis on Dallas ($1,526) & Houston ($1,297).
Data courtesy of RealPage, Inc.
