Affordability aside, America's costliest cities often have a lot to offer to the residents: vibrant economies, diverse populations, interesting attractions, and active social scenes. Next to San Francisco, which is the priciest city in the U.S., New York City takes second place in this list.
According to a report by the New York Curbed, New York's one-bedrooms cost for an average of $3,100. It rose 3.3 percent from last year. In New York's neighborhood, NoMad remains the most expensive city, having an asking price of about $4,630 for one bedroom, while its two-bedrooms cost $7,300.
Meanwhile, Curbed also reported that other deals can also be found outside Manhattan. One-beds in Manhattan above the city-wide average at $3,275, while Brooklyn has an average of $3,100. Queen remained affordable, its one-bedrooms cost $2,300. But the cheapest deals are offered by Bronx and Staten Island, with $1,475 and $1,100 as the asking prices for their one-bedrooms.
New York's price for one-bedroom rents are relatively higher than that of Chicago, which costs only $1,920, while the price is at $1,750 in Los Angeles.
Zumper news already explained that the more millennials who entered the workforce, the greater the possibility of rental market prices rising across a number of major metro regions. And today, many young professionals are considering renting an apartment instead of buying their own house.
Here is a list of the cities that showed a hike in one-bedroom rentals:
Oakland, CA - $1,980 (+20%)
Austin, TX - $1,170 (+17%)
Kansas City, MO - $770 (+16.7%)
Sacramento, CA - $900 (+15.4%)
San Jose, CA - $2,230 (+14.9%)
Atlanta, GA - $1,250 (+13.6%)
Dallas, TX - $1,190 (+13.3%)
San Francisco, CA - $3,500 (+12.9%)
Chicago, IL - $1,920 (+11.6%)
While others showed a decrease in their one-bedroom rent prices:
Nashville, TN - $820 (-19.6%)
Cleveland, OH - $640 (-14.7%)
Minneapolis, MN - $1,150 (-14.2%)
El Paso, TX - $580 (-12.1%)
Detroit, MI - $500 (-10.7%)
Columbus, OH - $700 (-6.7%)
Oklahoma City, OK - $550 (-5.2%)
Albuquerque, NM - $580 (-4.9%)
Houston, TX - $980 (-3%)
