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.
Liquidity moves markets!Follow the money. Find the profits!
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.
Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.