In this piece, we will talk about the five most expensive cities in the U.S. to rent. For more cities, head on over to 25 Most Expensive U.S. Cities For Renters.
5. Boston, Massachusetts
Average Rent for a 1 Bedroom Apartment: $2,700
Boston is one of the largest cities in America in terms of population. It is also the capital city of Massachusetts. The city is an economic and financial hub in its state. Boston houses one of America’s largest hospitals, the Massachusetts General Hospital. Additionally, it also has a strong biotechnology industry and is a hub for the sector in the U.S. Boston is among the list of America’s oldest cities, set up in the 17th century and before the American Revolution.
4. Miami, Florida
Average Rent for a 1 Bedroom Apartment: $2,840
Miami is the second largest city in Florida in terms of population. It is also an economic and cultural hub within the state. Miami is a hub for the cruise industry in America, and it also has a strong presence of the news, media, and production industries. However, Miami also has high levels of poverty, with 20.7% of its population living below the poverty line as of 2021. Median household and family incomes in the city are $31,472 and $47,860, respectively, both of which are lower than the Florida figures.
3. San Francisco, California
Average Rent for a 1 Bedroom Apartment: $3,000
San Francisco is one of the largest cities in California, one of the most densely populated regions in the U.S., and houses less than two hundred thousand people shy of a million. San Francisco has the fourth largest city economy in America, with a GDP of $568 billion according to some estimates. It is a hub of the technology industry in America and sees billions of dollars in investment each year. At the same time, homelessness is a major problem in the city, and San Francisco’s high rents are notorious throughout America as well.
2. Jersey City, New Jersey
Average Rent for a 1 Bedroom Apartment: $3,000
Jersey City is one of the most populous cities in New Jersey. It is an economic hub within its region and houses a large number of financial firms and insurance companies. As of 2018, Jersey City’s median household income was $62,739. The city was first settled by Europeans in the 17th century.
1. New York, New York
Average Rent for a 1 Bedroom Apartment: $3,570
Topping our list of America’s most expensive cities for renters is America’s largest city and its financial hub, New York. New York has the largest economy in the U.S. and is a global financial center filled with investment banks and other financial firms. New York houses a whopping 8.8 million people, making it not only one of America’s but also one of the world’s largest cities.
Disclosure: None. You can also take a look at 10 Best Humane Stocks to Buy Now and 30 Biggest Economies in Africa.
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