“How much does it cost to rent in the US?” is a common question I get asked for those planning a move to the US, and the simple response is always: Where are you moving? New York City is nothing like rural Illinois, and it's not even the same as central Chicago, so understanding the rental landscape and how it varies across the nation is very important. It's also crucial when you set out so that you understand what kind of budgets you should consider from the outset.
So how much does it cost to live in some of the major cities across the United States? All of these prices are listed by month which is how the US talks about rentals!
1. Renting in New York City, New York
New York City stands as one of the most expensive rental markets in the United States. Manhattan leads the way due to the fact that it has very limited room to grow, but other boroughs like Brooklyn and Queens are not too far behind.
It's also important to note that due to the value placed on square-footage, larger apartments with more bedrooms become exponentially more expensive, and whether or not your building has a doorman can vary the cost of an apartment, dramatically. Factors such as proximity to public transportation and neighborhood amenities also heavily influence rental prices.
Average rental price for apartments in Manhattan:
- Studio: $3,500 – $4,500
- 1-bedroom: $4,000 – $5,500
- 2-bedroom: $5,500 – $7,500
- 3-bedroom: $7,000+
Average rental price for apartment in Brooklyn:
- Studio: $2,500 – $3,500
- 1-bedroom: $3,000 – $4,000
- 2-bedroom: $4,000 – $5,500
- 3-bedroom: $5,000+
Looking in New York? Rob Schlederer ([email protected]) can help you find the perfect property, rentals, short or long term, furnished or unfurnished, or if you are ready to make the big buying plunge he's definitely the one to speak with. Rob has years of experience renting and selling New York real estate, mostly to foreign nationals, and is also an Aussie!
2. Renting prices in San Francisco, California
San Francisco's vibrant tech scene and picturesque surroundings come with a hefty price tag for renters. Despite efforts to address the affordability crisis, San Francisco remains a notoriously expensive rental market.
Average rental price for apartments in SF:
- Studio: $2,500 – $3,500
- 1-bedroom: $3,500 – $4,500
- 2-bedroom: $4,500 – $6,000
- 3-bedroom: $6,000+
3. Los Angeles, California:
From the glitz and glamour of Hollywood to the laid-back vibes of Venice Beach, Los Angeles offers a diverse range of neighborhoods to suit every taste.
Factors such as proximity to downtown, beach access, and local amenities contribute to fluctuations in rental costs.
Average rental price for apartments in LA:
- Studio: $1,650 – $2,500
- 1-bedroom: $2,100 – $3,000
- 2-bedroom: $2,800 – $4,000
- 3-bedroom: $4,000+
Jonathan Williams, originally from Melbourne Australia, is a seasoned professional in the US real estate game. With a familiar Aussie style and accent, he can help you find the perfect home in California or even help navigate that complex commercial deal. Fill in the form below to connect!
4. Chicago, Illinois:
As the third-largest city in the United States, Chicago boasts a rich cultural scene, diverse neighborhoods, and relatively more affordable rental prices compared to coastal counterparts. Rental costs can vary significantly depending on factors such as location within the city, building amenities, and housing demand.
Average rental price for apartments in Chicago, IL:
- Studio: $1,500 – $2,200
- 1-bedroom: $1,800 – $2,800
- 2-bedroom: $2,500 – $3,800
- 3-bedroom: $3,500+
5. Houston, Texas:
Houston, known for its booming energy industry and Southern hospitality, presents a more affordable rental landscape compared to many other major US cities. With a plethora of neighborhoods to choose from, renters can find housing options that cater to their budget and lifestyle preferences.
Average rental price for apartments in Houston, Texas:
- Studio: $1,100 – $1,600
- 1-bedroom: $1,300 -$2,000
- 2-bedroom: $1,700 – $2,600
- 3-bedroom: $2,200+
6. Austin, Texas:
Austin, renowned for its vibrant live music scene, tech industry, and quirky culture, offers a diverse rental market with options spanning various budgets and lifestyles. While not as affordable as some other Texas cities, Austin presents a wider range of housing choices compared to coastal metropolises, attracting renters seeking a unique blend of urban amenities and natural beauty.
Average rental price for apartments in Austin, Texas:
- Studio: $1,250 – $1,500
- 1-bedroom: $1,444 – $1,800
- 2-bedroom: $1,852 – $2,400
- 3-bedroom: $2,361 and above
Whether assisting renters, home-buyers, or anyone in between, Bill Frost and the Mike Seder Group in Austin are dedicated to helping you achieve your real estate goals with confidence, success, and integrity. With a wealth of industry experience, Bill offers market expertise and a personalized experience to individuals seeking to buy or sell homes in the Austin area.
