Sunday, June 30, 2019

How much it costs to rent

a one-bedroom apartment

in 15 major US cities

new york city subway skyline — The national average price for a one-bedroom apartment was $1,216 as of June 2019.

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.

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.

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:

Phoenix: The median asking price for a one-bedroom rental in Phoenix, Arizona is $1,171.

The median household income in Phoenix is $52,849.

Houston: The median asking price for a one-bedroom rental in Houston, Texas is $1,269.

The median household income in Houston is $51,914.

Charlotte: The median asking price for a one-bedroom rental in Charlotte, North Carolina is $1,330.

The median household income in Charlotte is $58,833.

Dallas: The median asking price for a one-bedroom rental in Dallas, Texas is $1,375.

The median household income in Dallas is $50,386.

Philadelphia: The median asking price for a one-bedroom rental in Philadelphia, Pennsylvania is $1,500.

The median household income in Philadelphia is $45,267.

Atlanta: The median asking price for a one-bedroom rental in Atlanta, Georgia is $1,590.

The median household income in Atlanta is $55,881.

Chicago: The median asking price for a one-bedroom rental in Chicago, Illinois is $1,650.

The median household income in Chicago is $55,528.

Denver: The median asking price for a one-bedroom rental in Denver, Colorado is $1,682.

The median household income in Denver is $64,784.

Miami: The median asking price for a one-bedroom rental in Miami, Florida is $1,995.

The median household income in Miami is $35,221.

Seattle: The median asking price for a one-bedroom rental in Seattle, Washington is $2,049.

The median household income in Seattle is $85,936.

Boston: The median asking price for a one-bedroom rental in Boston, Massachusetts is $2,150.

The median household income in Boston is $64,553.

Washington, D.C.: The median asking price for a one-bedroom rental in Washington, D.C. is $2,347.

The median household income in Washington, D.C. is $82,192.

Los Angeles: The median asking price for a one-bedroom rental in Los Angeles, California is $2,362.

The median household income in Los Angeles is $58,043.

New York City: The median asking price for a one-bedroom rental in New York City is $2,650.

The median household income in New York City is $61,816.

San Francisco: The median asking price for a one-bedroom rental in San Francisco, California is $3,600.

The median household income in San Francisco is $102,300.

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