NYC Rent Nearly $1K More Than Any Other Pricy U.S. City: Study

NEW YORK CITY — New York City rents far surpass every other expensive city in the U.S., in some cases by more than $1,500, a new study shows.

The median Big Apple one-bedroom in November cost $3,790 a month, a near 20 percent increase from rents a year ago, a recent Zumper study found.

Medians in Boston and San Francisco — two cities not known for their affordability — are hundreds of dollars less with similar apartments going for (just) $3,000 a month, the analysis shows.

“Over the last two years we saw unprecedented rises in rent prices driven by a booming economy, low interest rates, a one-off spike in demand post vaccines," said Zumper CEO Anthemos Georgiades.

New York's monthly rents are $1,000 more than the third ranked city (Miami at $2,660) and more than five times the cheapest city on the list, Akron, where you can expect to pay $690 for a one-bedroom.

Median Rents For One-Bedrooms In The U.S.

• New York City: $3,790
• Boston: $3,000
• San Francisco: $3,000
• Miami: $2,660
• San Jose: $2,540
• San Diego: $2,500
• Los Angeles: $2,430
• Washington, DC: $2,300
• Oakland: $2,230
• Fort Lauderdale: $2,120

The study showed a sliver of good news for one-bedroom renters: prices have dropped by 1.8 percent in New York since October.

However the typical two-bedroom price in the city — $4,420 — was 2.8 percent higher than October’s, the study found.

Good news has been in short supply for New York City renters since a spectacular drop in prices during 2021 rebounded to sky-high levels topping $5,000 by some measures this summer.

Rents have shown some signs of dipping down in recent months, but not by much.

“With seemingly never-ending demand and limited supply, we don’t anticipate New York relinquishing its title of most expensive in the foreseeable future,” the study states.

And renters hoping to find greener pastures outside the city could also be out of luck.

Another recent Zumper study found that the typical Hoboken and Jersey City rents were $2,950 and $2,810, respectively, in October.

Jersey City’s rent, in fact, rose 51.1 percent in the past year, the study found.

The most recent Zumper study found that even Newark isn’t immune from rising prices — its typical one-bedroom was up 4.5 percent in November.

“Surrounding metro areas—likely absorbing renters priced out of New York—are also seeing increased demand,” the study states.

Read the most recent Zumper study here.