Most Expensive City to Rent Places At

Last Revised on January 23, 2008

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Here are the list of America’s most expensive city for renters:

New York, N.Y. $2,922. It has a 2.8% vacancy rate , which keep rents here high; they are expected to climb 6.6% this year. Renters in lower Manhattan and along Central Park pay the most, while those in the Bedford-Stuyvesant, Flatbush and Dyker Heights neighborhoods will experience some relief thanks to expected new construction.

San Francisco, California. It cost around $1,904 per month to rent there. Very few residents here can afford the city’s $800,000 median home-sale price. The result is an extremely tight rental market, which is expected to see the largest year-over-year jump, with rents expected to grow 8.6%.

In Boston, Massachusetts, the price to rent is $1,658. Despite slow job-growth numbers throughout much of New England, the Bureau of Labor expects an uptick in Boston jobs this year. The city’s 5.9% vacancy rate is healthy, though a 41% slowdown in construction this year should depress it. Rents are expected to increase by a modest 3.7%.

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