The Most Expensive Cities for Renters in America

Rent is a major expense no matter where you live. But certain communities require a bigger investment than others. We studied Apartment Guide listings across the country to find the 50 most expensive cities in the U.S. for renters.

It's no surprise that living on either coast tends to be more expensive. Communities in California (especially in the Los Angeles metro area and the Bay Area) dominate the list of the most expensive cities in the U.S, as do cities and neighborhoods with easy access to Boston and New York City. In fact, the northern Chicago suburb of Lincolnshire, IL, was the only community in a non-coastal state to crack the top 50.

The vast majority of the most expensive cities in the U.S. are in New York, New Jersey, California and Massachusetts. But the list evolves every year, as populations shift, and communities develop new relevance. This year, cities in Florida, Washington and even Pennsylvania made the cut.

While location matters, the size of your apartment also plays a role. We broke down those Apartment Guide listings to show renters the most expensive cities in the U.S., sorted by apartment type. Here's where to find the most expensive studio, one-bedroom and two-bedroom homes across the country.

• Most expensive cities for studio apartments
• Most expensive cities for one-bedroom apartments
• Most expensive cities for two-bedroom apartments

Most expensive cities in the U.S. for studio apartments

Sacrificing square footage to save a few bucks makes studio apartments an attractive option for renters on a budget. But in the country's most expensive markets, they're not exactly a bargain.

Living in California is a pricey proposition, even for studio dwellers. Cities in the Golden State make up 16 of the 25 most expensive studio apartment markets in the nation and more than half the entire top 50 list (26 to be exact).

Communities in Massachusetts were also well represented on the list of the most expensive cities in the U.S. for studio apartments, accounting for 10 out of the top 50. New York and New Jersey each had five of the top 50 most expensive cities in the U.S. for studio apartment rents. This geographic trend isn't limited to studio apartments — it's consistent across all three apartment categories detailed here.

• Not only is Playa Vista, CA, one of the hottest neighborhoods in the Westside area of Los Angeles, it's also the most expensive place to score a studio apartment in the country — by a long shot. Renting a studio apartment here will set you back $5,153 per month, $1,213 more per month than the second city on this list.
• That second most expensive city ($3,940 a month) for studio renters is Englewood, NJ, just across the Hudson from Manhattan. Residents get the best of both worlds — an intimate community of just more than 28,000 souls (as measured by the 2018 Census) and easy access to one of the most exciting cities in the world.
• Located just west of downtown L.A., Santa Monica has a laidback coastal vibe and Pacific Ocean views. Strolling home past the boutique and art galleries or along the Santa Monica pier is a pleasure with a price tag the locals don't mind paying — an average monthly rent of $3,684.
• San Francisco is another coveted California address. The average studio rent of $3,635 might seem steep, but it's actually down 12.02 percent from last year.
• The water views draw new residents to Hingham, MA, as well. Located right on Boston Harbor, this charming city's historic homes, 21 miles of shoreline and waterfront green spaces are steeped in Colonial history. Studio rent in the Greater Boston town is the fifth-most expensive in the nation, an average of $3,547 monthly.

Most expensive cities in the U.S. for one-bedroom apartments

Coastal communities also dominated the list of the most expensive cities for one-bedroom apartments.

• Funky, free-spirited Venice, CA, saw a major rise in its average monthly rent. The average monthly rent for a one-bedroom is up a whopping 66.58 percent over last year or $5,650. Residents who love this California city's ocean views and boho vibe consider it a small price to pay to be in the center of the action.
• Despite Venice's major one-bedroom apartment rent increase, it just barely beat out No. 2 on the list of most expensive cities in the U.S. for one-bedroom apartments. Palm Beach clocks in just a few dollars less per month at $5,637. Residents of this glamorous south Florida community enjoy the luxe life of sandy beaches, upscale shopping, restaurants and art galleries just off the mainland.
• Another Los Angeles County community also showed substantial growth in one-bedroom apartment rental rates in the last year. Santa Monica's average rent ($5,176 per month) is up 20.68percent. It's a popular (but pricey) place for residents of both studios and one-bedroom apartments.
• The fourth most expensive city for one-bedroom renters is also in California. San Mateo is located on the western shore of San Francisco Bay. Its comfortable climate attracts residents who don't mind the $4,659 average one-bedroom apartment rent.
• Nearby San Francisco rounds out the top 5. A one-bedroom apartment in the financial and cultural center of Northern California rents for an average of $4,472. This is a highly competitive market for both studio apartments and one-bedrooms.

The most expensive cities in the U.S. for two-bedrooms apartments

A few new cities crack the top five when it comes to priciest two-bedroom apartments, but the overall trend remains the same. Southern California, the San Francisco Bay Area and greater Boston top the list.

• Santa Monica is home to the most expensive average two-bedroom rent in the nation. It clocks in at an average of $8,127 a month, an increase of 31.24 percent over last year's numbers. The city's appearance in all three categories detailed here mark it is as one of the most desirable and competitive markets we surveyed.
• Coming in second, Venice saw even an even steeper price increase (72.66%). But the overall unit price stayed slightly lower, at an average of $7,420.
• Comparatively speaking, Charlestown, MA, is a bargain at $5,805 per month. The third-most expensive city in the U.S. for two-bedroom apartment residents boasts plenty of old-world charm. This Boston neighborhood's roots go back to the Revolutionary War, featuring handsome brick townhouses, traditional pubs and clapboard houses.
• Belvedere and Tiburon occupy two islands and a lagoon in the San Francisco Bay. Space is at a premium here — Belvedere occupies less than one square mile, and the two tiny towns share a post office. Very limited inventory and a picturesque location contribute to an average monthly two-bedroom rental rate of $5,773.
• The city of Port Chester, NY, comes in at number No. 5 on the list of most expensive cities in the U.S. for two-bedroom apartments with an average rent of $5,599 per month. Located across the Long Island Sound from Greenwich, CT, this city's plan to increase waterfront access, preserve its historic character and increase economic development has helped fuel a competitive rental market.

California is among the most pricey places to live

Reviewing the data tells us several things about the most expensive cities in the U.S. First, no matter what size apartment you want, it costs a lot to live in California. The same goes for communities around New York City and Boston. But there are highly competitive rental markets across the country.

Methodology

Rent prices are based on a rolling weighted average from Apartment Guide and Rent.com's multifamily rental property inventory of one-bedroom apartments. Data was pulled in August 2020 and goes back for one year. We use a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets. Cities with insufficient inventory were eliminated from our report.

The rent information included in this article is used for illustrative purposes only. The data contained herein do not constitute financial advice or a pricing guarantee for any apartment.