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NYC, LA and San Fran are priciest places to rent in US…by far

Author:MEhome NY 2019-10-04

NYC, LA and San Fran are priciest places to rent in US…by far

NYC has 28 of the 50 priciest zip-codes, while California has 18, according to a RentCafe report



Clockwise from top left: San Francisco's Rincon Hill, New York City's TriBeCa and Los Angeles' Westwood (Credit: iStock)

San Francisco’s Rincon Hill, New York’s Tribeca and Los Angeles’ Westwood (clockwise from top left) are among the most expensive places to rent in the country 

What’s the most expensive zip-code to rent an apartment in the U.S.? Manhattan.

What’s the second most expensive zip-code to rent an apartment? Manhattan.

What’s the third…you get the point.

Manhattan had the top three spots for priciest zip-codes to rent in the U.S., according to a new report in RentCafe, and seven of the top 10.

New York, L.A. and the Bay Area dominated RentCafe’s list — Boston is the only city outside of New York and California to make the top 50, and it doesn’t turn up until No. 32.

Of the top 50 zip-codes in the report, New York City had 28. Downtown’s Battery Park City neighborhood took the top spot, with an average rent of $6,211 a month.

Meanwhile, six of the top spots are in L.A. and 12 in the San Francisco Bay Area. The remaining four were in Boston.

In Los Angeles, the most expensive is Westwood’s 90024, where units average $4,944 a month, according to a report in RentCafe.

Westwood topped California zip-codes last year, too.

Beverly Grove came in right behind Westwood with an average rent just below $4,900, followed by San Francisco’s Rincon Hill and Mission Bay neighborhoods.

In L.A. County, around 58 percent of low-income households pay more than 30 percent of their monthly income on rent, and the county is short more than half a million affordable homes.

Developers want local and state officials to ease regulations to make it cheaper to build apartments. The state legislature responded to the crisis with a statewide rent control bill that cap rent hikes and limits evictions. It passed last month and still awaits Gov. Gavin Newsom’s signature.

www.therealdeal.com


Tags: New York Sanfrancisco Los Angeles rent apartment manhattan
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