Where is most expensive rent in U.S.? Not in San Francisco, report says

Real Estate

SAN FRANCISCO, Calif. (KRON) – For the second month in a row, San Francisco is not the most expensive city to live in the United States.

According to a September 2021 Zumper report, New York City remains the most expensive to rent a one-bedroom apartment with San Francisco coming in second.

In the August 2021 Zumper report, NYC rose above San Francisco for the first time since 2014, when the company began tracking renting data.

Last month, the median one-bedroom rent rate was only $10 difference, with $2,810 in NYC and $2,800 in San Francisco.

Now, there is a $150 difference with rent rates rising in NYC to $2,950.

Zumper reported that these two cities were hit hardest by the COVID-19 pandemic as many people moved out. New York City’s rent dropped between March 2020 and January 2021 by 17.6% but it is now up 3.5% compared to the beginning of the pandemic.

Out of the top 10 most expensive rental rates in the country, five are in California — Three of which are here in the Bay Area: San Francisco, San Jose, and Oakland.

According to Zumper, “the City of Los Angeles is among the West Coast markets where rent remains down considerably relative to where it was before the pandemic.”

Rent in LA dropped by 13.8% between March 2020 and January 2021. It has remained down by 6.7% compared to pre-pandemic levels.

On the other hand, places like Orange County have seen rents rise rapidly.

The median rent for a one-bedroom is up across the county:

  • Irvine — Up 24.5%
  • Dana Point — Up 15.2%
  • Huntington Beach — Up 7.2%
  • Newport Beach — Up $15.1
  • Santa Ana — Up 9.7%

Nationwide, rental rates are up 10.7% for a one-bedroom compared to March 2020.

To view the full report, visit the Zumper website.

Here is the list of the top 10 most expensive rental prices in the country as of September:

  1. New York, NY: $2,950
  2. San Francisco, CA: $2,800
  3. Boston, MA: $2,410
  4. Washington, DC: $2,210
  5. San Jose, CA: $2,200
  6. Los Angeles, CA: $2,100
  7. San Diego, CA: $2,100
  8. Oakland, CA: $2,000
  9. Miami, FL: $1,970
  10. Scottsdale, AZ: $1,850

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