NYC Is Now Most Expensive Rental City In America, Study Finds

NEW YORK CITY — New York City just garnered a "number one" ranking no city wants.

The Big Apple is now the nation's most expensive rental market, according to a new Zumper study.

The city's median $2,810 rent surpassed the $2,800 typical for a place in San Francisco, which long held the distinction as America's most expensive place to rent.

"It’s the first time New York has been ahead of San Francisco since Zumper started tracking rental data in 2014," the study states.

The coronavirus pandemic prompted mass exoduses from both New York City and San Francisco.

Both cities saw rents drop significantly as people left, according to Zumper.

But New York City has seen more people return, prompting a 19.1 percent rise in rent since January — a return to roughly pre-pandemic levels.

Rent in San Francisco, by contrast, is still 20 percent below the level in March 2020.

Read the full Zumper report here.