America’s Highest Rent Neighborhoods

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Where are the neighborhoods in America where the typical renter is throwing down $10k, $15k, or even $30k a month?  While that does sound like quite a bit of coin, there are neighborhoods across the county where landlords are fetching those amounts.  After all, nearly one third of Americans are renters and not owners.  Leave it to Realtor.com to zero-in and locate these neighborhoods and then rank the top 10.  To come up with their list, they pulled every two-bedroom rental on realtor.com (as of March 2019) and then calculated the median rent price for every ZIP code.  To keep it even, they excluded ZIP codes with fewer than 12 listings and limited the ranking to no more than two neighborhoods per state (or else CA and NY would dominate).

“The math between renting versus buying is starting to lean toward renting,” says Dolly Lenz, a New York–based luxury real estate broker. “They can’t deduct as much on their taxes anymore—so it makes less sense to buy.

Click here to read the full story on Realtor.com.

 

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Director of Education & Outreach, National Real Estate Investors Association

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