Housing prices may have started to cool in some areas of the country, but apartment rentals are still expensive in a number of cities..
How bad is it in some places? There are a few popular cities where you may have to pay an average of more than $3,000 for a two-bedroom apartment, according to the July 2022 Rent Report.
If you’re trying to find ways to pay your rent on a budget, you may want to avoid these cities to keep some cash in your pocket.
Chicago, known as the Windy City, is the largest city in the Midwest. It also may blow away your money for a two-bedroom apartment. Rent in the city will set you back $3,247 for a place that size, according to Rent.com.
The Mile High city also may have mile-high prices when it comes to rent. According to Rent.com, a two-bedroom apartment in Denver will run an average of $3,253 per month. Part of the reason may be Denver’s population growth in the past few decades, causing more competition in the market.
Living in the nation’s capital can be a pricey endeavor for a renter if they want to stay within the District of Columbia. If you want to live where all the political action is, a two-bedroom apartment will cost you $3,260 on average per month.
The city on the west side of Washington State is the home of grunge, Starbucks, and high rental prices. An average two-bedroom apartment is going to set you back about $3,398 per month.
Yonkers, New York
Surprisingly, the only city in New York on this list is Yonkers, which is just north of the Bronx in Westchester County. It’s an easy commute into the city, so rent here for a two-bedroom will cost you an average of $3,468 a month.
Santa Ana, California
The first of many cities in California on this list is Santa Ana, located south of Los Angeles. A two-bedroom rental will cost you $3,487 there.
Fremont is in the Bay Area of California, which has been a hot housing market for at least a decade. Renters are reminded of this when they have to pay an average monthly rent of $3,606 for a two-bedroom apartment in the area.
South of Santa Ana is Irvine, another expensive city in southern California. Rent there can cost you $3,780 for a month in a two-bedroom rental.
Pro tip: Finding easy ways to boost your bank account can help ease high living costs.
San Jose, California
Back up to the Bay Area is San Jose, which is popular for employees of tech companies in the area. A two-bedroom apartment can set you back $3,808 per month.
Across the Bay from San Francisco is Oakland, which follows the trend of expensive two-bedroom rentals in the Bay Area. Having a lease on a two-bedroom apartment will cost you an average of $4,252 per month.
San Francisco, California
The second largest city in the Bay Area has the largest monthly tab for rent for a two-bedroom apartment. An apartment there with two bedrooms can cost an average of $4,575 a month.
San Diego, California
One of the most southern cities in California is San Diego, which is often said to have the best climate in America. Consequently, a two-bedroom apartment can set you back $4,592. Yes, that’s the average price for only one month’s worth of rent.
Los Angeles, California
The biggest city in California also has some of the biggest costs for rent. A two-bedroom apartment in L.A. can cost an average of $4,787 a month.
The most expensive city in California? Glendale, which is north of Los Angeles and near Burbank and Universal City. If you live in Glendale, you can expect to pay an average of $4,917 per month for a two-bedroom rental.
Boston is one of only two cities on this list that has an average cost of rent that’s above the $5,000 mark. For a two-bedroom apartment, you can expect to pay a whopping $5,870 on average per month for a lease.
Jersey City, New Jersey
Across the Hudson River from New York City is Jersey City, which has the most expensive leases for two-bedroom rentals in the country. A two-bedroom apartment in the city could set you back almost $7,000, with an average cost of $6,899 per month.
You may need to find ways to make extra money just to afford some of these more expensive cities. If you need to live in one of these cities, you may need to pay more than 30% of your monthly income in rent.
For new college grads who may be moving for a job, be sure to consider the cost of rent when you’re making a decision about which cities you can afford to live in.