Jersey City and Hoboken NJ have the Top 10 highest rents in the United States
Life is expensive. Especially if you live in New Jersey right now.
Over the past few years, tenants across the United States have experienced skyrocketing increases in their rents. But if you look at the numbers just How? ‘Or’ What how much they have increased, it is quite mind-boggling.
Rent.com has just calculated a list of “The 100 cities with the highest rents in the United StatesThe data was extracted from their inventory of multi-family rental properties for one- and two-bedroom apartments, between June 2022 and June 2021, excluding cities with populations under 50,000. Their study found that cities with the highest rental prices are close to big tech hubs.
And guess what? New Jersey appeared twice in the Top 10. Yay.
It’s even worse. A city in New Jersey tops the list at #1. What city, you ask?
City of Jersey
Hats off if you manage to make ends meet by renting from City of Jersey. You’re paying the highest rent in the country right now. The average monthly rent in Jersey City has gone from $3,308 in 2021 for $5,500 in 2022. Which is huge 66.25% increase. in just one year!
If you live in Hoboken, you also pay some of the highest rents in the country. Along with Hoboken, New Jersey has two cities in the Top 10 on this list. Hoboken arrives at #seven with an average monthly rent of $4,264, which is a 21.46% increase from June 2021.
Yeah, I’m gonna hang on to my sub-$2,000 rent for my apartment in South Jersey. But as a New Jerseyan, it makes me hold my pearls!
Have you noticed trends like this in your city?
WATCH: This is the richest city in every state
Just saying the names of these cities immediately conjures up images of grand mansions, fancy cars and fancy restaurants. Read on to see which city in your home state won the title of richest place and which place had the highest median income in the country. Who knows, your hometown might even be on this list.
This is the most expensive apartment in Princeton NJ
Note that this is the most expensive apartment in Princeton NJ announced by Apartments.com in early May 2022.