Menu Close

Simply Unaffordable! Manhattan Has Nation’s Highest Rents Followed By San Francisco (Wichita KS The Cheapest)

New York City, composed resrticted land masses such as Manhattan, Brooklyn and Staten Island, has the most expensive housing rents in the nation followed by another restricted land mass known as San Francisco.

According to RentCafe.com, Boston MA is the third most expensive area in terms of housing rents.

Boston, of course, is located on the Atlantic Ocean and like New York City and San Francisco is massively congested.

On the flip side, Wichita KS has the lowest rents, followed by Decauter AL and Memphis TN.  These cities are all in “fly-over” states and not on an oceanic coast. Ohio makes the list with Toledo OH and Oregon OH (next to Toledo).  Apparently, few are willing to pay a Lake Erie premium.

New York City, San Francisco and Boston stick out like the proverbial sore thumb on a map of average rent.

Limited available space for construction of new housing supply and restrictions on land use are major drivers of rents. Of course, people and businesses are an important element in rent determination on the demand side. And environmental concerns can limit supply as well, such as in Phoenix AZ.

Simply unaffordable. At least in New York City, Boston and San Francisco.

Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share

Discover more from The Wall Street Examiner

Subscribe now to keep reading and get access to the full archive.

Continue reading