The most expensive areas for rental housing in U.S. cities
|The debate about what is better — to buy housing or rent — eternal. Both sides of the debate have their pros and cons, and often the correct answer is: it’s a personal decision. Part of the problem is that it is not always easy to see exactly how expensive rents in certain cities or areas. To fill this information gap, GOBankingRates has listed the most expensive areas for renters in the United States, denoting their postal code (zip code).
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It may seem that the most expensive areas easy to identify, but the actual list is full of surprises. For example, the average rent in the most expensive neighborhood/zip code in new York (10014) is 4076 dollars. It is definitely a lot, but given the reputation of new York with its high cost of real estate, this number seems surprisingly manageable. For example, rents in the area with postal code 94611 in Oakland, California, will cost 4710 dollars a month, which is almost 15% higher than the maximum rents in the most expensive index in new York.
Another interesting result of the study is that the definition of “high” rent varies greatly from city to city. For example, to live in the area of the most expensive zip code in Detroit can be for $ 870 per month, which is the lowest among all the studied cities. Compare this to the most expensive zip code in all of United States 90049 (Los Angeles), where life is an incredible 10 $ 680 per month — and this is just the average rents. The fact that “dear” may indeed be a regional designation, and if one area seems too expensive, there might be one that you consider affordable.
Overall, average monthly rents in the most expensive zip codes USA is 1644 USD. To determine what rent you can reasonably afford, start by creating a realistic budget. With this in mind, let’s look at the most expensive zip codes for renters. We give the example of popular among Russian-speaking immigrants in the city, and the full list can be found here.
Boston
- Postcode: 02134
The average monthly rent in 2019: $3778 - Postal: 02127
The average monthly rent in 2019: $3675 - Postal code: 02135
The average monthly rent in 2019: $3271 - Postcode: 02130
The average monthly rent in 2019: $3037 - Postcode: 02114
The average monthly rent in 2019: $3035
Chicago
- Postcode: 60614
The average monthly rent in 2019: $2849 - Postcode: 60618
The average monthly rent in 2019: $2097 - Postcode: 60654
The average monthly rent in 2019: $2087 - Postcode: 60611
The average monthly rent in 2019: $2021 - Postcode: 60616
The average monthly rent in 2019: $2015
Houston
- Postcode: 77005
The average monthly rent in 2019: $3262 - Postcode: 77027
The average monthly rent in 2019: $3186 - Postcode: 77024
The average monthly rent in 2019: $2947 - Postcode: 77007
The average monthly rent in 2019: $2705 - Postcode: 77094
The average monthly rent in 2019: $2601
Las Vegas
- Postal code: 89138
The average monthly rent in 2019: $2201 - Postcode: 89135
The average monthly rent in 2019: $2118 - Postcode: 89117
The average monthly rent in 2019: $1908 - Postal code: 89144
The average monthly rent in 2019: $1800 - Postcode: 89141
The average monthly rent in 2019: $1776
Los Angeles
- Postcode: 90049
The average monthly rent in 2019: $10 680 - Postcode: 90048
The average monthly rent in 2019: $8287 - Postcode: 90046
The average monthly rent in 2019: $7778 - Postcode: 90024
The average monthly rent in 2019: $7358 - Postcode: 90291
The average monthly rent in 2019: $6964
Miami
- Postcode: 33140
The average monthly rent in 2019: $7785 - Postcode: 33141
The average monthly rent in 2019: $4165 - Postcode: 33133
The average monthly rent in 2019: $3556 - Postcode: 33155
The average monthly rent in 2019: $2570 - Postcode: 33145
The average monthly rent in 2019: $2500
New York
- Postcode: 10014
The average monthly rent in 2019: $4076 - Postcode: 10011
The average monthly rent in 2019: $4058 - Postcode: 10003
The average monthly rent in 2019: $3995 - Postcode: 10282
The average monthly rent in 2019: $3850 - Postcode: 10036
The average monthly rent in 2019: $3623
Philadelphia
- Postcode: 19123
The average monthly rent in 2019: $2190 - Postcode: 19147
The average monthly rent in 2019: $2033 - Postcode: 19130
The average monthly rent in 2019: $1976 - Postcode: 19127
The average monthly rent in 2019: $1879 - Postcode: 19122
The average monthly rent in 2019: $1744
Portland, Oregon
- Postcode: 97212
The average monthly rent in 2019: $2485 - Postcode: 97214
The average monthly rent in 2019: $2420 - Postcode: 97229
The average monthly rent in 2019: $2365 - Postcode: 97211
The average monthly rent in 2019: $2277 - Postcode: 97219
The average monthly rent in 2019: $2166
San Diego
- Postcode: 92130
The average monthly rent in 2019: $4730 - Postcode: 92127
The average monthly rent in 2019: $4029 - Postcode: 92129
The average monthly rent in 2019: $3300 - Postcode: 92109
The average monthly rent in 2019: $3244 - Postcode: 92128
The average monthly rent in 2019: $2982
San Francisco
- Postcode: 94114
The average monthly rent in 2019: $5783 - Postcode: 94110
The average monthly rent in 2019: $4884 - Postcode: 94116
The average monthly rent in 2019: $4392 - Postal code: 94122
The average monthly rent in 2019: $4163 - Postcode: 94112
The average monthly rent in 2019: $3858
Seattle
- Postal code: 98112
The average monthly rent in 2019: $3709 - Postal code: 98119
The average monthly rent in 2019: $3630 - Postcode: 98122
The average monthly rent in 2019: $3389 - Postcode: 98105
The average monthly rent in 2019: $3332 - Postcode: 98199
The average monthly rent in 2019: $3293
Washington
- Postcode: 20007
The average monthly rent in 2019: $4705 - Postcode: 20016
The average monthly rent in 2019: $4568 - Postcode: 20009
The average monthly rent in 2019: $3430 - Postcode: 20010
The average monthly rent in 2019: $3296 - Postcode: 20003
The average monthly rent in 2019: $3257