One Bay Area city made the list.
And demand is not expected to subside."More people have moved to the New York area in 2022 than was typical pre-pandemic," said Chen.: $1,825As a"spillover city," Jersey City is absorbing demand from people who are priced out of nearby New York, says Chen.
Similar to New York, demand isn't expected to go down anytime soon."We've seen record numbers of applications for apartments" in areas around New York City, Chen says.Percent change"Like most large cities in the country, Boston's housing market is undersupplied," said Chen. However, it's especially bad in Boston due to"prohibitive zoning laws that favor single-family homes.
Additionally,"new inventory coming online is skewed toward the luxury market, which is pushing median asking prices even higher," she said.Percent changeWhile New York was the most expensive rental market in the U.S. in 2022, San Francisco had held the title for the six years prior, according to Zumper's data. It's still an expensive place to live at nearly $3,000 for a one-bedroom.
Luckily, rent prices have not climbed back up to the city's pre-pandemic peak of $3,700 in 2019. Even so,"it would take a large market shift for San Francisco to fall out of the top five," said Chen.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
From the Himalayas to Underrated Midwestern Cities, Where to Travel to in 2023Thinking about a trip abroad next year? Or are you planning to do more domestic travel in 2023? Either way, our yearly list of destinations has something for everyone. Enjoy!
Read more »
Popular burger chain opens at this SF mall next weekEven more Bay Area locations are expected to open in 2023.
Read more »
Kevin Hart adds two shows to his Phoenix 2023 ‘Reality Check Tour’ stopKevin Hart announces third Phoenix show for 2023 ‘Reality Check Tour.’ The comedian’s show will take place at Arizona Financial Theatre.
Read more »
Exclusive: PepsiCo to roll out 100 Tesla Semis in 2023 -execPepsiCo plans to roll out 100 of the heavy-duty Tesla Semis it reserved in 2023, when it will start making deliveries to customers like Walmart and Kroger , the soda maker's top supply chain official told Reuters on Friday.
Read more »
Rocky Mountain National Park will implement timed entry reservation system again in 2023NEW: Once again, visitors to Rocky Mountain National Park will need to obtain a timed entry reservation in order to visit the park during its busiest times of the year.
Read more »
2023 Kia EV6 GT First Test Review: A 576-HP Silent StingerThe Kia EV6 GT is an electric vehicle that’s quick, thrilling, and ready to go toe-to-toe with the Tesla Model Y.
Read more »