California, decidedly the San Francisco breadth and Silicon Valley, is the best big-ticket rental bazaar in the country, fueled by a tech bang in abundant of the Golden State.
Five out of the 9 best big-ticket rental markets in the U.S. are in California, while the added priciest rental busline areas are all in the Northeast, according to a new account aggregate by Accommodation Guide, a rental advertisement website.
Based on its rental listings, Accommodation Guide aboriginal affected the civic boilerplate hire for an entry-level flat or one-bedroom apartment, which came in at $769. It again searched for how abundant amplitude that amount would accommodate in busline areas with at atomic 30 backdrop listed.
These are the 9 busline areas in the country breadth hire per aboveboard bottom is the priciest. If you appetite a affluence two-bedroom accommodation in these areas, add two zeroes, on average, to the number, and you’ll accept a ballpark account of your account rent.
1) San Jose, Sunnyvale, Santa Clara – CA$34.55 a aboveboard foot
2) San Francisco, Oakland, Fremont – CA$32.39 a aboveboard foot
3) Bridgeport, Stanford, Norwalk – CT$27.29 a aboveboard foot
4) Boston, Cambridge, Newton – MA$27.10 a aboveboard foot
5) Los Angeles, Long Beach, Anaheim – CA$27 a aboveboard foot
6) Oxnard, Thousand Oaks, Ventura – CA$24.87 a aboveboard foot
7) New York, Newark, Jersey City – NY, NJ$24.63 a aboveboard foot
8) Washington, Arlington, Alexandria – D.C., VA$22.73 a aboveboard foot
9) San Diego, Carlsbad, San Marcos – CA$21.94 a aboveboard foot
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As acreage ethics accept been ascent in these areas, authoritative homes beneath and beneath affordable, and as Americans attempt to authorize for mortgages, abounding bodies – abnormally millennials – accept been larboard with no best but to rent. Yet renting has become expensive. A one-bedroom accommodation in Santa Clara, for example, rents for $2,282 to $2,532 a month, according to Accommodation Guide’s listings.
Meanwhile, busline areas breadth the aboveboard footage is the best affordable are predominantly in the South and the Midwest. For the amount of a rental in the Silicon Valley, you could hire an accommodation four times as big in Springfield, Miss., the busline breadth with the best affordable rentals in the nation. Added affordable busline areas accommodate Macon, Ga., and Huntsville, Ala., breadth a aboveboard bottom is account $8.75 and $8.89 respectively.
In the average of the pack, Tucson and Phoenix in Arizona as able-bodied as Fresno, Calif., are the busline areas breadth a aboveboard bottom costs about a dollar – putting these cities appropriate in the average of the accomplished and everyman rents per aboveboard foot.
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