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(NEXSTAR) – The price of renting an apartment is on the rise, particularly in some major U.S. cities.
This is according to the latest rent report from Zumper, which has found that across the nation, the price for a one-bedroom apartment is up 2.5% since this time last year.
On a city-by-city level, some areas have seen a drastic rise in apartment prices, with New Haven, Connecticut, seeing the largest rise by far with over a 33% rise in price for a one-bedroom apartment.
Not far behind New Haven were two cities in Nebraska, Lincoln and Omaha, where rent prices are up more than 26% and 24% over the past year.
In terms of pure price, New York City remains on top with an apartment costing over $4,280 a month on average—a 5.9% year-over-year rise.
San Francisco finished as the second-most expensive city to rent an apartment, where the price is $3,160 a month, followed by Jersey City at $3,080.
Here is Zumper’s full list of the most expensive cities to rent a one-bedroom apartment:
| Ranking | City | One Bedroom Price | Month-Over-Month Change | Year-Over-Year Change |
|---|---|---|---|---|
| 1 | New York, NY | $4,280 | 1.70% | 5.90% |
| 2 | San Francisco, CA | $3,160 | 3.90% | 7.10% |
| 3 | Jersey City, NJ | $3,080 | -5.80% | -4.30% |
| 4 | Boston, MA | $2,830 | -4.10% | -5.70% |
| 5 | San Jose, CA | $2,720 | 2.60% | 11.00% |
| 6 | Miami, FL | $2,630 | 0.00% | -2.20% |
| 7 | Los Angeles, CA | $2,520 | 0.80% | 5.40% |
| 8 | Arlington, VA | $2,430 | 1.70% | 5.70% |
| 9 | New Haven, CT | $2,380 | 4.40% | 33.70% |
| 10 | San Diego, CA | $2,350 | 2.20% | 0.90% |
To see the full list of the most expensive cities for renters, take a look at Zumper’s website.
On the other, less expensive end of the spectrum, several major cities saw rent prices drop to more affordable prices since last year.
The city that saw the largest drop was Durham, North Carolina, which had a 12.8% price drop. Prices there are sitting at $1,290 for a one-bedroom apartment.
Surprisingly, Chicago had the second-largest drop in the U.S. with rental prices down 11.1% since last year.
In terms of affordability based on where you live, one of Texas’ major cities may be the perfect place to move to, according to Redfin.
Redfin’s latest report found that Austin, Houston, and Dallas offer the perfect price for renting an apartment based on what the average person’s salary is. Austin was named the most affordable city for renters in the country based on the median rent in the city being $1,394 and the average renter making more than $69,000 a year.
Here’s how the other Texas cities as well as other cities in the U.S. fared in terms of affordability for renters, according to Redfin:
| Ranking | City | Median Asking Rent | Income Required To Afford Median Asking Rent | Estimated Median Renter Income | % Difference Between Income Required and Estimated Median Renter Income |
|---|---|---|---|---|---|
| 1 | Austin, TX | $1,394 | $55,760 | $69,781 | 25.14% |
| 2 | Houston, TX | $1,239 | $49,560 | $58,287 | 17.61% |
| 3 | Dallas, TX | $1,460 | $58,400 | $64,417 | 10.30% |
| 4 | Salt Lake City, UT | $1,476 | $59,040 | $64,271 | 8.86% |
| 5 | Raleigh, NC | $1,418 | $56,720 | $61,463 | 8.36% |
| 6 | Denver, CO | $1,695 | $67,800 | $72,803 | 7.38% |
| 7 | Phoenix, AZ | $1,476 | $59,040 | $63,157 | 6.97% |
| 8 | Washington, DC | $2,039 | $81,560 | $86,644 | 6.23% |
| 9 | Baltimore, MD | $1,600 | $64,000 | $66,745 | 4.29% |
| 10 | Nashville, TN | $1,495 | $59,800 | $61,236 | 2.40% |
To check out more about affordable renting cities, go to Redfin’s website.
