E-Paper
Renting a house in these 10 US cities could drain your wallet
House and apartment rent is getting expensive by the minute in the United States. Here is a look at the most expensive cities if you are living on rent.
If you are living in an apartment that is rented in the US, you may be paying a lot more now as compared to the previous years, a new study by SmartAsset using Zillow data has found. This analysis takes into account the most expensive cities in the United States, while also considering the rent trends of America.
This analysis has been conducted between February 2024 and February 2025, and highlights the top 10 cities that have experienced an unprecedented rent growth in those 12 months.
Which is the most expensive city in US to live on rent in recent times?
According to the analysis, Newark city in New Jersey, which is located in close proximity to New York City, has seen a sharpest rise in apartment rent. Although its rent trend has increased by a whopping 45.6% over the last five years, it still trails behind the rents in Boston or San Francisco.
ALSO READ | Want to live in the US? It's nearly impossible if you are from these 10 countries
The average rent in Newark City has jumped by 8.1 per cent to $2,241 from $2,073, the analysis by SmartAsset showed.
Cleveland comes in second
Cleveland of Ohio state emerged second in the list of US cities that saw a steep rise in rent prices. The rent growth in the region has been a sharp 7.3%, with the average rent being $1,303. Similar regions in the Midwest have seen a sharp climb in rent prices, especially due to high demand there. However, the supply of apartments to rent is quite less there.
Some cities see falling rent prices
Meanwhile, there are some cities in the United States that are seeing a dip in rent increase. According to the analysis, the likes of Aurora, Colorado, saw the biggest drop of 3.1%, followed by Austin, Texas that depicted a 2.3% reduction.
Full list of cities where rent increased exponentially
Here is the full list of US cities where rent knew no bounds:
Newark, NJ
Growth percentage: 8.1%
Cleveland, OH
Growth percentage: 7.3%
Columbia, SC
Growth percentage: 6.7%
Fort Wayne, IN
Growth percentage: 6.2%
Milwaukee, WI
Growth percentage: 6.2%
St. Petersburg, FL
Growth percentage: 6.1%
Toledo, OH
Growth percentage: 5.9%
Detroit, MI
Growth percentage: 5.8%
Lexington, KY
Growth percentage: 5.7%
Rochester, NY
Growth percentage: 5.5%
