Beantown and the Big Apple top the most expensive cities in America.
according to new report According to housing listing platform Zumper, New York City’s median monthly rent for a one-bedroom was $3,860 in October, making it the most expensive city in America. Boston, with a median one-bedroom monthly rent of $3,060, won the silver medal.
Boston is now in third place with an average one-bedroom price of $3,020, overtaking San Francisco, which is notoriously expensive.
Boston pushed Frisco to No. 2 in large part because Bostonians had to navigate “particularly low supply.”
It was the first eye-opening figure in two years as both one- and two-bedroom apartments saw domestic price declines at the same time. Nationwide, the median one-bedroom rent is $1,491 and the two-bedroom rent is $1,832.Yet they are part of greater deceleration What Zumper pointed out is trackable year-over-year.
There are many reasons for this trend, including rising vacancy rates and fears of a recession. In fact, 76.2% of those surveyed for this report believe the US is already in recession.
Nevertheless, high interest rates and inflation are likely to keep rental prices competitive for the foreseeable future, but a new influx of supply over the next six months could benefit renters. There is a nature.
Zumper CEO Anthemos Georgiades said: “We have seen historic levels of migration throughout the pandemic as people switched to working from home and rethinking their living conditions. , occupancy rates have fallen and rents have followed suit.”