Landlords want to get the highest rent possible for their units without driving away good tenants. Value is based on a variety of issues, but location is the biggest factor. Popular areas can garner big price tags for apartments that would be half the cost in another city. Cities like New York, Los Angeles and Chicago often come to mind when thinking of cities with the highest rent. Surprisingly, they don’t even make the top of the list. If you want to hold the claim of most expensive rent in the country, here’s where you should buy next.
No one would be surprised this bougie town atop the list, but the price tag is still shocking. Some apartments are getting as much as $30,000 to $80,000 a month for a four bedroom in the summer time!
A city known for its skiing is equally becoming known for its rent. Prices can reach as high as $10,000 a month for modest apartments. That isn’t even just for ski season, as this has become an all year destination.
Century City, CA
Nestled between Beverly Hills, Westwood, and Santa Monica, this city has become LA’s hot stop for high-end high-rises. This is where elites move when they’re tired of maintaining their mansion. Rentals can start at $10,000 a month and reach as high as $60,000 a month for a penthouse suite. Many of the buildings here come with cleaning crews, tennis courts, ocean views and 24/7 security.
Fisher Island, FL
Ever heard of it? Believe it or not this ZIP code is home to the highest-earning people in the nation, with income topping a cool $2 million annually. I guess with that salary it’s easy to afford a 4-bedroom condo for $20,000 a month.
Tribeca, New York
Big lofts and lofty prices. A two-bedroom loft can fetch as much as $12,500 in this trendy NY hot spot. You also get to be neighbors with celebrities like Taylor Swift and Justin Timberlake…so there’s that.
Park Shores, FL
There’s expensive beach towns across America. Santa Monica, for example can reach higher prices than even Park Shores. But, $8,500 for a 2-bedroom is still no small number. Coastal communities will almost always fetch higher prices, but a lack of building has kept real estate in this community particularly valuable.
South Beach, San Francisco
This is another city that used to be a warehouse district and now features high-end sotres, nightlife and luxury condos. A 1,300-square-foot rental here can set you back about $5,500 per month. That’s actually not that much higher than the average rent cost of San Francisco which is around $3,552.
Pinnacle Peak, Scottsdale
I bet you didn’t expect to see Arizona on this list. Prices here are actually not terrible for the size. In West Hollywood the average rent is about $2,500 for an apartment under 800sq ft. Here a three-bedroom apartment with a poolside cabana and wet bar will fetch just under $3,200.
West End, Washington DC
Goodbye Victorian-style homes and hello to luxury apartments and condos. The city doesn’t hate old architecture, they just need more housing. This is a high-earner area and prices reflect that. Rent can range between $3,000-$12,000 a month.
Capitol Hill, UT
Bringing up the rear in this top ten list is Salt Lake City. This is another town that is attracting young people looking to get away of the sky high prices of Silicon Valley, but are still high-earners. A large two-bedroom with a pool and rooftop lounge will fetch around $3,500. Not a terrible price considering the views