These Are The Ten Worst US Cities For Renters

Nation and State ^ | 08/31/2022 | Tyler Durden

[SeekAndFind]

For cash-strapped renters crushed by the worst inflationary environment in four decades as real wages tumble, personal savings wiped out, and credit cards maxed out, we have found the top ten cities to avoid renting a one-bedroom apartment.

The Zumper National Rent Index shows rising shelter costs for a one-bedroom apartment are not sustainable for the working poor. The median national one-bedroom rent for August was $1,486, up 11.8% over the same month last year, surpassing July's record high.

Readers may recall we have focused on New York City's hot rental market for apartments that continues to set "record number of records." In the metro area, one-bedroom rents are up a staggering 40% year-over-year. A two-bedroom apartment is up 47%. Across all boroughs, Manhattan had the highest rent, climbing to another record high of $4,214, up 27% over last year.

So it is no surprise that NYC tops the list with the most expensive rent. San Francisco, San Jose, Boston, and San Diego rounded out the list of the five most costly rents in the nation.


Source: Bloomberg

Here are the cheapest rents where average one-bedrooms are less than $1,000 per month.


Source: Bloomberg

Renters should avoid locking in rent contracts in super expensive metro areas because the Federal Reserve's aggressive tightening could spark turmoil in the economy later this year, if not next. This would undoubtedly mean rent prices would have to readjust.

[VTenigma]

Gee, nobody saw rent increases coming after a year long rent moratorium, nope nobody.

[lowbridge]

Note all those cities are run by democrats.

Democrats may talk a good game about being the biggest protectors and defenders of the poor and middle class against the big bad rich people and their corporations. But give them the reins of power over a city, state, or country, and they make it much too expensive to live and survive for everyone except the rich and wealthy.

[woodbutcher1963]

One of the main reason Boston is so expensive is the amount of college/university students right in Boston/Cambridge are.
There are 35 colleges/universities in the Boston area.
Many of the students end up living 4-5 in an apartment. Especially in the Back Bay section where BU, BC, Northeastern are all within a mile or two of each other. Then right across the river in Cambridge is Harvard and MIT.

[Deo volente]

I lived in San Diego during another era, in 1978, just west of the 805, and shared a 2-bedroom apartment. Total rent, $250. I kid you not.

[Jolla]

In 1989 I was oceanfront at Windansea Beach in La Jolla, 2 bdrm $1200. for 4 years.