Looking for a place to live where rent won’t drain your entire paycheck? Unfortunately, that place isn’t New York City–the nation’s most expensive rental market, where one bedroom apartments reach a staggering $4,380.
But if you’re willing to look just beyond the city, there are still nearby spots where your rent won’t eat up every dollar–meaning you might actually have some cash left over each month.
According to the latest report from Zumper, which analyzed active listings across the New York metro area, NYC still ranks as the priciest place to rent. However, several surrounding cities are seeing significant price drops, with some rents falling by as much as 15.8% year-over-year–offering a rare bit of relief for renters priced out of the city.
It’s Official: NYC Is Still The Most Expensive City For Renters
After crunching the numbers, Zumper found New York City to have a median rent price of $2,427. Sound bad? Well, it unfortunately gets worse…