Manhattan Dominates Ranking of 2018’s Most Expensive Zip Codes for Renters
- Sep 14, 2018
by Nadia Balint
Manhattan continues to top the charts of high-priced apartments in the U.S. as RENTCafé’s newly-released annual ranking of the most expensive zip codes in the U.S. reveals. With an average rent of $5,657—zip code 10282 in Lower Manhattan (Battery Park City) ranks first—keeping its top position from last year. In second place, up six positions this year is zip code 10013 (Manhattan’s Tribeca neighborhood), with an average rent of $5,226—a year-over-year price increase of 10.6 percent. In total, eight out of the top 10 zip codes are located in Manhattan.
One zip code in Los Angeles challenges New York City with the third priciest rents in the country, $4,883. It is 90024, covering L.A.’s Westwood neighborhood. Rents for apartments in Westwood increased by 3.2 percent over the past year, bumping the zip code up 61 positions in the top.
San Francisco’s 94105 (approximately Rincon Hill/The East Cut) also shows up in the top 10 in sixth position, with an average apartment rent of $4,666, 3.3 percent higher than one year prior.
Notably three U.S. areas make up the top 50 ranking: New York City, California and the Boston area. In total, 27 of the zip codes are in New York City, 18 most expensive zip codes are in California, with Silicon Valley claiming seven of them, including 94063 (Redwood City) and 94025 (Cupertino). The Boston area has five zip codes in the 50 most expensive, the priciest of them being 02199 with an average rent of $4,439, which earns Boston the 11th spot.