Jersey City And Hoboken Make A New List Of Highest Rents In U.S.

JERSEY CITY, NJ — On the heels of a recent report saying that Jersey City has the highest rents in the country, a new list says that city also has one of the highest increases over the previous year.

ApartmentGuide.com listed Jersey City third on a list of highest rents in the country, behind New York City and Pfluegerville, Texas.

It also said that Jersey City rents have had a bigger percentage increase than New York City, at 51.6 percent. Only two municipalities in the top 15 had a higher average increase: Pfluegerville, Texas, and Redmond, Wash.

However, as a recent Patch series has noted, some high-end buildings in the area have had to roll back these increases after tenants found out they were illegal. More tenants are checking to see if their increases will stand. READ MORE: Jersey City And Hoboken Rents Are Highest In Country, But Are They Legal?

The ApartmentGuide website cited a major reason rents are rising so high: Some people turned away from buying homes, so there's more competition for rentals.

While Jersey City was third on the list of highest rents, neighboring Hoboken came in at 15.

The top 15 cities, listed with average rent and percent increase, are:

Cities With Highest Rents

1. New York, NY, $5,812, 41.02 percent increase

2. Pfulgerville, Tex., $4.451, 265.21 percent

3. Jersey City, NJ, $4,421, 51.6 percent

4. Long Island City, NY, $4,370, N/A

5. Great Neck, NY, $4,161, 21.72 percent.

6. Santa Monica, Calif., $4,098, 37.66 percent

7. Glendale, Calif., $4,026, 30.07 percent

8. Boston, Mass., $4,022, 9.46 percent

9. Palo Alto, Calif., $3,964, 41.13 percent

10. Redmond, Wash., $3,891 88.06 percent

11. Island Park, NY, $3,844, N/A

12. West Hollywood, Calif., $3,816, 8.10 percent

13. Newport Beach, Calif., $3,791, 17.91 percent

14. Cambridge, Mass., $3,778, 28.9 percent

15. Hoboken, NJ, $3,746, 26.05 percent

"Rental data was pulled from Apartment Guide's multifamily rental property inventory for one-bedroom units over June 2022 and June 2021," the website explained. "All cities with insufficient inventory were excluded."

Some of the cities on this list are suburbs, making the municipalities vying for the top spot one of the most wealthy in the country.

See the list and story here.