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Dear Gabby: Average Rent in Major US Cities

Dear Gabby: Average Rent in Major US Cities

Dear Gabby: Average Rent in Major US Cities

Dear Gabby, 

I’m thinking about making big changes in my life. My friends all think I’m going through a quarter-life crisis, but I just want a change of scenery. I live in the country currently, and I’m ready for hustle and bustle of a more metropolitan area. I know apartment rent can be pricier in the city, so I’m hoping you can give me an idea of what I can expect.

- #CountryBoyMovingToTheBigCity


Hey #CountryBoyMovingToTheBigCity,

Last year I got really excited when my son joined the cross-country team. But then I learned they don't cross the country and are back home in a few hours. I was hoping for something a bit more permanent. 

Kidding (kind of)...but moving to the city is a great idea. I’m a city girl myself and can’t talk it up enough. I mean, living a three minute walk from five different coffee shops is truly a dream come for a coffee addict like me. 

Considering the cost of rent is important if you’re seriously thinking about moving, especially since the price varies so much throughout the United States. Lucky for you, a study conducted by GoBankingRates has revealed what the average person pays in rent for a one-bedroom apartment in cities across the country. 

The data reveals some predictable insights, but you also might be surprised by some of the findings. It’s fairly well-known that San Francisco and New York City are pricier cities, given high demand for housing but low supply. You may want to remove those from your list if you’re working within a tight budget and look at cities like Portland and St.Louis instead. 

Without further ado, here’s the list: 

  1. San Francisco, California: $3600
  2. New York, New York: $2200
  3. Washington, DC: $2172
  4. Boston, Massachusetts: $2025
  5. Los Angeles, California: $2014
  6. Miami, Florida: $2000
  7. Seattle, Washington: $1795
  8. Chicago, Illinois: $1595
  9. Denver, Colorado: $1436
  10. Minneapolis, Minnesota: $1435
  11. Atlanta, Georgia: $1387
  12. Houston, Texas: $1308
  13. Philadelphia, Pennsylvania: $1295
  14. Portland, Oregon: $1095
  15. St. Louis, Missouri: $700

No matter which of these cities you're looking at, there's one thing they all have in common: the price of rent is increasing. So if you're struggling to come up with a realistic rental budget for a one-bedroom apartment, you may want to consider finding a place with a roommate, as two (or more)-bedroom apartments offer a lower cost per square foot than one-bedroom apartments. If you do, just be wary of Craigslist roommates. Look for someone you’ll be compatible with... I always looked for someone that was my same shoe size, for example. 

So, what will it be? Sunny LA, the Big Apple, the Windy City, or somewhere else? 

Until next time, signing off!

Gabby

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