Zumper, a map-based apartment search website, released a report showing that San Fransisco is the city in the U.S., for the month of June, with the highest median rent price for a one-bedroom apartment at $3,500. New York ranked No. 2 with a median rent price at $3,100, and Boston right behind it with a median rent price of $2,230.
Zumper released its monthly national rent report, showing that median rental prices are climbing everywhere in the U.S. The report then broke down the most expensive median rent prices by neighborhood in some of the biggest cities in the nation — New York, San Fransisco, Los Angeles, Boston and Chicago.
For San Fransisco, the Financial District, Mission Bay/Dogpatch and Russian Hill were the top three cities with the most expensive median rental prices at $3,995, $3,910 and $3,730 respectively. NoMad, Tribeca and the Flatiron District are the three priciest New York cities for median rental prices at $4,500, $4,250 and $4,200 respectively.
Zumper’s blog reported that San Fransisco was up 1.3 percent from the previous month and that the entire Bay Area continues to suffer from a major housing crisis due to demand outpacing supply.
The blog continued to point out that Chicago, Atlanta and Charlotte are spotted as cities with an upward trend for the median one-bedroom rent prices, while Seattle, Philadelphia and Minneapolis continue to show a decline in median rent prices.