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California is notorious for having high living expenses, so it is no surprise that four out of the ten most expensive metro areas in the U.S. for renters are in the Golden State.
The new statistic comes from a study from Lawn Love, a yard care business, which ranked the ten most expensive metro areas for 2023. Researchers compared 172 metro areas across housing-based metrics grouped into three categories: rent prices, rent affordability and cost inflators.
Researchers also analyzed figures from various databases, such as the U.S. Bureau of Labor Statistics and the U.S. Census Bureau, to get the final result.
Overall, the report found that if renters want to live anywhere near the coast, it will cost them. All of the top 10 most expensive metro areas are near the shore.
Top 10 most expensive metro areas for renters
- New York City, New York, Newark, Jersey City, New Jersey
- Miami, Fort Lauderdale, Pompano Beach, Florida
- Oxnard, Thousand Oaks, Ventura, California
- San Diego, Chula Vista and Carlsbad, California
- Urban Honolulu, Hawaii
- Los Angeles, Long Beach, Anaheim, California
- Napa, California
- Naples, Marco Island, Florida
- Washington D.C. Arlington, Alexandria, Virginia
- Bridgeport, Stamford and Norwalk, Connecticut
The New York tri-state area ranked as the most expensive place on the list since renters are paying over 30% of their income on housing expenses like rent and utilities, according to the report.
The average rent in the Jersey City rental market is $2,436, while the average rent in New York is $3,650, according to data from Zillow Rental Manager.
The average rent price for California metro areas on the list is between $2,095 and $4,250, according to the same database. The median rent in California is $2,895.
The complete study can be viewed here.
