These are the ten most expensive cities for renters in the United States

Rent in America is getting a little ridiculous but did you know there are some cities in the United States where things have gotten way too out of control? Let’s look at recent data that reveals the most expensive rents in the country. 

The Zumper released its National Rent Report for May 2024 at the end of the month but it didn’t have a lot of good to reveal since the cost of rent increased by 1.6% to a median of $1,504  for a one-bedroom and $1,865 for a two-bedroom.

“This is the first time we’ve seen monthly growth rates of over 1% in 20 months,” Zumper noted, which certainly doesn’t bode well for any American who currently doesn’t own their own home and is looking for a rental. 

“This notable rise in rent coupled with the current persisting inflation suggests that there will be even more pressure put on the CPI in the coming months and rate cuts by the Fed may be pushed back further than previously anticipated.” wrote Zumper CEO Anthemos Georgiades.

Zumper’s data actually provided a lot of interesting information when it comes to trends in the country and the most interesting revelation might have been that demand in cities in California has shrunk, which has in turn altered the list of cities with the priciest rents. 

Another weird fact the data revealed was the rather mundane American Rust Belt cities of Syracuse and Columbus were the two places with the fastest-growing rents nationwide, both of which jumped by a whopping 20% since May of 2023. But which cities are the top ten most expensive?

Photo by Hans-Jürgen Weinhardt on Unsplash

One bedroom price: $2,220

Year-over-year change: 18.70%

Two bedroom: $2,630

Year-over-year change: 16.40%

*Chicago is technically number ten since the number nine spot is a tie!

Photo by Pedro Lastra on Unsplash

One bedroom price: $2,300

Year-over-year change: -5.00%

Two bedroom: $3,270

Year-over-year change: -1.80%

Photo by Olenka Kotyk on Unsplash

One bedroom price: $2,300

Year-over-year change: -3.00%

Two bedroom: $3,180

Year-over-year change: 0.30%

Photo by Maria Oswalt on Unsplash

One bedroom price: $2,370

Year-over-year change: -1.30%

Two bedroom: $3,200

Year-over-year change: -0.90%

Photo by Clayton Cardinalli on Unsplash

One bedroom price: $2,380

Year-over-year change: 3.50%

Two bedroom: $3,180

Year-over-year change: 2.60%

Photo Credit: Wiki Common By APK, Own Work, CC BY-SA 4.0

One bedroom price: $2,570

Year-over-year change: -2.30%

Two bedroom: $3,320

Year-over-year change: 1.20%

Photo by Mo on Unsplash

One bedroom price: $2,770

Year-over-year change: -4.50%

Two bedroom: $3,690

Year-over-year change: -6.10%

Photo by Ryan Parker on Unsplash

One bedroom price: $2,830

Year-over-year change: 4.80%

Two bedroom: $3,500

Year-over-year change: 4.50%

Photo by jacob Licht on Unsplash

One bedroom price: $2,950

Year-over-year change: 1.70%

Two bedroom: $3,950

Year-over-year change: -1.30%

Photo by Joshua Sortino on Unsplash

One bedroom price: $3,330

Year-over-year change: 4.70%

Two bedroom: $3,750

Year-over-year change: 0.30%

Photo by Tomas Martinez on Unsplash

One bedroom price: $4,200

Year-over-year change: 11.10%

Two bedroom: $4,730

Year-over-year change: 18.30%

Never miss a story! Click here to follow The Daily Digest.

Photo by Hannah Busing on Unsplash