The Priciest Cities to Rent in the United States were recently profiled by CNBC.com. Looking to relocate from your San Marcos Apartment? Check out this list for where your money WON’T go as far, so you know where to avoid or where to pull your loaded Bentley into.
Perhaps not surprisingly, half of the list is populated by cities in California. The reason why most of these cities cost so much to be a renter in is a combination of high incomes and job growth, as well as a high cost of home ownership. Combine this with a long-term focus on density, and you have the perfect recipe for high rents.
The report’s compilers expect rents to continue to rise, which may drive some of the current renters into home ownership. The number one most expensive city to rent in is New York City, but there are some unexpected cities on the list, so be sure to visit CNBC for the entire rundown, as well as the population, rent to income ratio, and median income for each of the ten cities.