The Most Expensive Rent Award Goes To...
As a New Yorker I am always deterred from living in the city due to its ludicrous rent prices. I am baffled tat New York does not make the #1 spot for expensive rent, its even more shocking that its not in the top 10.
Instead, the highest rents are found in San Francisco, California, where a two-bedroom apartment costs an average of $1,905 a month. San Francisco is deterred from building new buildings due to strict zoning laws. The social media boom has created jobs that pay well above 90k, in fact San Francisco families make an average of $93,400 a year and explains why housing is so expensive and the demand to live there. TheIncome to Rent Ratio is below 30% explaining the market and high prices.
The Top 10 Most Expensive Rent Cities: Based on a 2 Bedroom Apartment
San Francisco, California: $1,905 — $76,200 — $93,400
Stamford-Norwalk, Connecticut: $1,769 — $70,760 — $104,300
Honolulu, Hawaii: $1,767 — $81,700 — $70,680
Nassau-Suffolk, New York: $1,682 — $67,280 – $78,300
Orange County, California: $1,652 — $66,080 — $68,200
San Jose-Sunnyvale-Santa Clara, California: $1,623 — $64,920 – $103,500
Westchester County, New York: $1,580 — $63,200 — $78,300
Bergen-Passaic, New Jersey — $1,515 — $60,600 — $78,300
Danbury, Connecticut: $1,512 — $60,480 – $78,300
Washington, D.C.-Arlington-Alexandria, Virginia: $1,506 – $60,240 — $103,500
