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Abstract:The national average price for a one-bedroom apartment was $1,216 as of June 2019. That's a 1.5% increase year to date.
Rent in major US cities continues to soar.
The national average price for a one-bedroom apartment is $1,216, according to a report by Zumper.
Zillow and StreetEasy provided Business Insider with the median prices for one-bedroom rentals across 15 major US cities as of May 2019.
Turns out, two of the top three most expensive cities for rentals on the list are in California.
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Rents across major US cities continue to soar.
The national median price for a one-bedroom apartment was $1,216 as of June 2019 — a 1.5% increase year to date.
Business Insider's Hillary Hoffower previously reported that rents are so high in major cities that some residents are resorting to living in the exurbs — the area beyond the suburbs — and living in vehicles to work around the cost of housing.
Read more: Here's the salary you'll need if you want to afford a mortgage in 17 major US cities
To get a sense of just how much it costs to be a renter in America, Business Insider compiled information from Zillow and StreetEasy on the median asking prices for one-bedroom rentals in 15 major US cities as of May 2019. Of the provided cities, Phoenix, Arizona, had the most affordable median rent: $1,171. On the other end of the pricing spectrum, two of the top three most expensive cities for rentals are in California.
Data on each city's median household income was obtained from the home-ownership-investment company Unison's 2019 Home Affordability Report.
Keep reading to see just how much you'd have to pay to live in these cities, ranked from most affordable to least affordable:
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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