Most Expensive U.S. Cities To Rent A One Bedroom Apartment In 2024

The cost of living has risen rapidly over the past few years as the economy continues to recover from the COVID-19 pandemic. Some cities have experienced a swifter rebound, while others continue to grapple with the lingering effects of inflation. In this article, we’ll break down the top 100 most expensive cities to rent in America.

Key Highlights:

• New York is the most expensive city to rent in the U.S. with the median rent costing $3,495 per month.
• Miami is the hardest place to afford rent in the U.S. with a whopping rent-to-income gap of $78,713.
• Laredo, Texas; Toledo, Ohio; and Wichita, Kansas are the top three most affordable cities for renters.

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Top-10 Most Expensive Cities To Rent & Live In 2024

As the cost of living continues to rise, the burden on renters across the United States is becoming increasingly heavy.

In particular, New York City, the epitome of urban living, has reached new heights with record-breaking median rent prices. Rents in New York City’s five boroughs are up 7.1 percent year-over-year with median listing price in Manhattan now sitting at $4,396 per month as of June, according to the Chamber of Commerce.

However, that’s not the only city where the cost of renting an apartment has simply become unaffordable.

Let’s delve into the data and explore the most expensive cities to rent in the U.S.

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Related: Top 50 Cheapest Places To Rent & Live In The USA

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1. New York, New York — The Most Expensive City in the U.S.

• Median Rent for One Bedroom: $3,495
• Median Income: $65,317
• Income Needed for One Bedroom: $139,800

It comes as no surprise that New York City tops the list of cities with the highest incomes needed to afford rent. With its vibrant culture, diverse neighborhoods, and endless opportunities, living in the Big Apple comes at a premium. As of June, the median listing price for a one-bedroom unit in Manhattan soared to $4,396 per month, requiring renters to earn an average of $139,800 annually to avoid spending more than 30% of their income on rent. With the current median income in New York City standing at $65,317, the disparity highlights the significant financial burden faced by renters in this iconic city.

2. Miami, Florida — A Tropical Paradise with High Costs

• Median Rent for One Bedroom: $3,000
• Median Income: $41,287
• Income Needed for One Bedroom: $120,000

Following closely behind, Miami, Florida, is renowned for its beautiful beaches and vibrant nightlife. However, these attractions come with a hefty price tag for renters. To secure a one-bedroom unit in Miami, renters would need to earn around $120,000 per year, which is a staggering $78,713 more than the current median income in the city, standing at $41,287. With the median rent for a one-bedroom apartment at $3,000 per month, renters in Miami face a considerable challenge in finding affordable housing.

3. San Francisco, California — The Golden State’s Priciest City

• Median Rent for One Bedroom: $3,000
• Median Income: $103,978
• Income Needed for One Bedroom: $120,000

California’s reputation for high living costs is well-established, and San Francisco exemplifies this trend. With its booming tech industry and picturesque views, the city attracts many aspiring residents. However, the average one-bedroom rental price of $3,000 per month demands an annual income of $120,000 to avoid exceeding the recommended 30% of income spent on rent. San Francisco’s median income of $103,978 falls significantly short of this benchmark, placing renters in a precarious financial position.

4. Irvine, California — Southward to Expensive Orange County

• Median Rent for One Bedroom: $2,718
• Median Income: $91,246
• Income Needed for One Bedroom: $108,720

Heading south to Orange County, California, we find Irvine, the fourth most expensive city for renters. To afford the median rent of $2,718 per month, renters must earn at least $108,720 per year. While this may seem more attainable than the top three cities, it still represents a significant financial challenge, especially when considering that the median income in Irvine is $91,246.

5. Boston, Massachusetts — Historic City with Modern Expenses

• Median Rent for One Bedroom: $2,650
• Median Income: $72,077
• Income Needed for One Bedroom: $106,000

Rounding off the top five is Boston, Massachusetts. With a median rent of $2,650 per month, residents need an annual income of $106,000 to keep their rent expenses below the recommended 30% of income. Although this is relatively lower than some of the other cities on the list, it still presents a substantial financial burden compared to the city’s median income of $72,077.

6. Jersey City, New Jersey — Urban Living Across the River

• Median Rent for One Bedroom: $2,574
• Median Income: $76,964
• Income Needed for One Bedroom: $102,960

If you’re considering living in Jersey City, be prepared for high housing costs. With a median rent of $2,574 for a one-bedroom apartment, renters need a substantial income of $102,960 to afford rent while keeping housing costs within a reasonable percentage of their earnings. The city’s vibrant atmosphere and proximity to New York City make it an attractive option for those willing to pay a premium for city living.

7. San Diego, California — Sunny Beach Vibes with Pricey Rents

• Median Rent for One Bedroom: $2,543
• Median Income: $66,536
• Income Needed for One Bedroom: $101,720

San Diego is known for its beautiful weather and scenic views, but it comes at a cost. The median rent for a one-bedroom apartment stands at $2,543, requiring an income of $101,720 to comfortably afford rent. With a median income of $66,536, renters in San Diego may find it challenging to allocate a substantial portion of their earnings to housing expenses.

8. Fremont, California — Tech Hub with Premium Rent

• Median Rent for One Bedroom: $2,450
• Median Income: $104,768
• Income Needed for One Bedroom: $98,000

Fremont boasts a strong job market and diverse community, making it a desirable place to live. However, with a median rent of $2,450 for a one-bedroom apartment, residents need an income of $98,000 to afford rent comfortably. Fremont’s high median income of $104,768 may make it feasible for some, but renters should be prepared for the elevated cost of living in this Californian city.

9. San Jose, California — Silicon Valley Living at a Cost

• Median Rent for One Bedroom: $2,430
• Median Income: $82,570
• Income Needed for One Bedroom: $97,200

San Jose, as a tech hub, attracts many professionals seeking employment opportunities. However, the city’s median rent for a one-bedroom apartment is $2,430, which necessitates an income of $97,200 to afford rent without stretching the budget. While the median income of $82,570 may provide some financial flexibility, renters should carefully consider their housing costs when planning to live in San Jose.

10. Santa Clarita, California — Suburban Escape with Elevated Costs

• Median Rent for One Bedroom: $2,259
• Median Income: $77,664
• Income Needed for One Bedroom: $90,360

Santa Clarita offers a suburban escape with proximity to Los Angeles, but it comes with a higher price tag. The median rent for a one-bedroom apartment in Santa Clarita is $2,259, requiring an income of $90,360 to afford rent comfortably. With a median income of $77,664, renters in this city should carefully budget their housing expenses to ensure financial stability.

U.S. Cities With Highest Rent-to-Income Gap

In these U.S. cities, it’s typically harder for residents to afford rent.

Below, we’ll compare the cities with the highest rent-to-income gap in the USA.

1. Miami, Florida —$78,713
2. New York, New York — $74,483
3. Hialeah, Florida — $47,531
4. Oxnard, California — $44,049
5. Santa Ana, California — $41,945
6. San Diego, California — $35,184
7. Los Angeles, California — $34,049
8. Boston, Massachusetts — $33,923
9. Chula Vista, California — $33,866
10. Port St. Lucie, Florida — $32,415

Top 100 Most Expensive Cities To Rent In 2024

New York City leads the pack with sky-high median rent prices, setting the tone for the other major cities on the list.

While some cities offer more affordable housing options, many still face significant disparities between median incomes and rent prices.

As the cost of living continues to rise, policymakers and communities must work together to find sustainable solutions that ensure affordable and accessible housing for all residents.

Here are the most expensive cities in the U.S. in 2024.

Rank	City	State	Median Rent: One Bedroom	Median Income	Income Needed for One Bedroom
1	New York	New York	$3,495	$65,317	$139,800
2	Miami	Florida	$3,000	$41,287	$120,000
3	San Francisco	California	$3,000	$103,978	$120,000
4	Irvine	California	$2,718	$91,246	$108,720
5	Boston	Massachusetts	$2,650	$72,077	$106,000
6	Jersey City	New Jersey	$2,574	$76,964	$102,960
7	San Diego	California	$2,543	$66,536	$101,720
8	Fremont	California	$2,450	$104,768	$98,000
9	San Jose	California	$2,430	$82,570	$97,200
10	Santa Clarita	California	$2,259	$77,664	$90,360
11	Chula Vista	California	$2,250	$56,134	$90,000
12	Washington	District of Columbia	$2,250	$93,855	$90,000
13	Los Angeles	California	$2,236	$55,391	$89,440
14	Honolulu	Hawaii	$2,200	$58,594	$88,000
15	Santa Ana	California	$2,141	$43,695	$85,640
16	Oxnard	California	$2,118	$40,671	$84,720
17	Hialeah	Florida	$2,100	$36,469	$84,000
18	Oakland	California	$2,056	$71,364	$82,240
19	Anaheim	California	$1,995	$51,270	$79,800
20	Long Beach	California	$1,895	$54,852	$75,800
21	Seattle	Washington	$1,895	$94,554	$75,800
22	Port St. Lucie	Florida	$1,850	$41,585	$74,000
23	Scottsdale	Arizona	$1,793	$77,289	$71,720
24	Atlanta	Georgia	$1,787	$69,699	$71,480
25	Chicago	Illinois	$1,775	$62,010	$71,000
26	Riverside	California	$1,750	$46,647	$70,000
27	Tampa	Florida	$1,750	$56,712	$70,000
28	Yonkers	New York	$1,750	$62,061	$70,000
29	Denver	Colorado	$1,728	$66,570	$69,120
30	Moreno Valley	California	$1,697	$48,465	$67,880
31	Fontana	California	$1,695	$50,806	$67,800
32	St. Petersburg	Florida	$1,694	$52,060	$67,760
33	Nashville	Tennessee	$1,661	$52,186	$66,440
34	Chesapeake	Virginia	$1,654	$59,912	$66,160
35	Cape Coral	Florida	$1,650	$43,222	$66,000
36	Gilbert	Arizona	$1,621	$72,725	$64,840
37	Orlando	Florida	$1,600	$45,459	$64,000
38	Chandler	Arizona	$1,600	$61,682	$64,000
39	Worcester	Massachusetts	$1,595	$52,600	$63,800
40	Austin	Texas	$1,595	$65,567	$63,800
41	Plano	Texas	$1,573	$67,335	$62,920
42	Frisco	Texas	$1,564	$92,106	$62,560
43	Charlotte	North Carolina	$1,550	$56,115	$62,000
44	Sacramento	California	$1,550	$56,307	$62,000
45	New Orleans	Louisiana	$1,500	$51,186	$60,000
46	Modesto	California	$1,500	$53,199	$60,000
47	Portland	Oregon	$1,495	$66,682	$59,800
48	McKinney	Texas	$1,484	$73,314	$59,360
49	Henderson	Nevada	$1,475	$61,096	$59,000
50	Raleigh	North Carolina	$1,465	$58,474	$58,600
51	North Las Vegas	Nevada	$1,463	$41,333	$58,520
52	Newark	New Jersey	$1,450	$40,637	$58,000
53	Dallas	Texas	$1,450	$50,059	$58,000
54	Philadelphia	Pennsylvania	$1,450	$52,808	$58,000
55	Salt Lake City	Utah	$1,428	$54,044	$57,120
56	Phoenix	Arizona	$1,412	$50,150	$56,480
57	Aurora	Colorado	$1,400	$52,023	$56,000
58	Virginia Beach	Virginia	$1,400	$55,250	$56,000
59	Tacoma	Washington	$1,395	$60,604	$55,800
60	Anchorage	Alaska	$1,395	$60,883	$55,800
61	Durham	North Carolina	$1,390	$57,185	$55,600
62	San Bernardino	California	$1,375	$41,848	$55,000
63	Las Vegas	Nevada	$1,375	$50,361	$55,000
64	Boise City	Idaho	$1,375	$54,115	$55,000
65	Jacksonville	Florida	$1,350	$46,774	$54,000
66	Mesa	Arizona	$1,350	$50,040	$54,000
67	Colorado Springs	Colorado	$1,347	$52,255	$53,880
68	Fort Worth	Texas	$1,335	$51,704	$53,400
69	Irving	Texas	$1,326	$51,159	$53,040
70	Glendale	Arizona	$1,300	$45,602	$52,000
71	Reno	Nevada	$1,295	$50,032	$51,800
72	Richmond	Virginia	$1,275	$50,782	$51,000
73	Stockton	California	$1,250	$48,736	$50,000
74	Baltimore	Maryland	$1,250	$52,758	$50,000
75	Houston	Texas	$1,245	$47,686	$49,800
76	Garland	Texas	$1,240	$40,800	$49,600
77	Fresno	California	$1,220	$47,729	$48,800
78	Madison	Wisconsin	$1,200	$59,986	$48,000
79	Fayetteville	North Carolina	$1,195	$38,083	$47,800
80	Arlington	Texas	$1,157	$45,262	$46,280
81	Norfolk	Virginia	$1,122	$45,614	$44,880
82	Columbus	Ohio	$1,122	$50,698	$44,880
83	Huntsville	Alabama	$1,109	$61,897	$44,360
84	Buffalo	New York	$1,100	$48,634	$44,000
85	Pittsburgh	Pennsylvania	$1,100	$56,023	$44,000
86	Minneapolis	Minnesota	$1,100	$61,845	$44,000
87	Greensboro	North Carolina	$1,062	$42,420	$42,480
88	Albuquerque	New Mexico	$1,055	$51,609	$42,200
89	St. Paul	Minnesota	$1,051	$54,501	$42,040
90	Bakersfield	California	$1,050	$51,952	$42,000
91	Spokane	Washington	$1,050	$51,332	$42,000
92	San Antonio	Texas	$1,049	$44,167	$41,960
93	Kansas City	Missouri	$1,026	$49,865	$41,040
94	Rochester	New York	$1,025	$43,101	$41,000
95	Tucson	Arizona	$988	$41,931	$39,520
96	Cincinnati	Ohio	$975	$50,677	$39,000
97	Augusta	Georgia	$950	$37,326	$38,000
98	Detroit	Michigan	$950	$40,163	$38,000
99	Memphis	Tennessee	$950	$40,928	$38,000
100	Winston-Salem	North Carolina	$950	$45,941	$38,000

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