As the dream of home ownership becomes ever more elusive, a growing number of Californians are turning to the rental market as a way of life. But it’s no panacea either. Rents in California are reaching record highs, leaving people with fewer options and pushing a growing number of them into poverty.
It’s no wonder then that California dominated Zumper’s list of high-rent cities for June of 2016. Four California locales made the top 10 for median one-bedroom rent prices on Zumper’s national report this month: San Francisco at No. 1 ($3,590), San Jose at No. 3 ($2,290), Oakland at No. 5 ($2,270) and Los Angeles at No. 7 ($1,970). New York was runner-up to San Francisco ($3,250). Boston, D.C., Miami, Seattle and Chicago also made the list.
For its National Rent Report, Zumper analyzes available data from over 1 million active listings across the country each month. In doing so, the company aims to provide an accurate and up-to-date snapshot of the rental market—no matter how much it hurts.
Read Zumper’s full report here.