Jersey City is the most
expensive city to rent a home in the United States, according to a report
conducted by the listings service Rent.com.
The list
ranked Jersey City first, followed by Boston and Palo Alto, California.
“To get out of New York
City and across the river, I think I kind of understand it,” says Jon
Marthedal, of Fresno, California. “A lot of new development that is gone on
here makes it very attractive.”
Average rent in Jersey
City jumped from $3,308 in 2021 to $5,500 in 2022 -- an increase of 66.25%.
“I think you’re still able
to find a good deal in the area if you work with local owners and people who
know the area, they can find what you need,” says Caroline Barrick, of Jersey
City.
The
website took into account how many units
were available for rent in determining this list. Cities with populations of less
than 50,000 were excluded.
Hoboken also made the list
of the top 10 highest rents in the country, ranked seventh nationwide
with an average rent bill of $4,264, which increased 21.46% from last year.
Bayonne was the only other
New Jersey city to make the list, coming in at No. 34, with the
average renter writing a monthly check for $3,101.
To see the full list, click
HERE.