A large factor to consider when taking into account the cost of living is rental, but have you ever thought about what are the most expensive cities to rent in America in 2015? Renting a place takes a significant percentage of your monthly earnings.
One of the most expensive cities to rent in America is San Diego in California. Did you know that average rent in the city costs around $1450 per month. Not so cheap. On the other hand there is Seattle in Washington. The city is now known for being a technology and environmental hub. Average costs of rentals have an average of $1700.The city of Chicago, most widely recognized as the “Windy City” is the third largest and third most populous city in the US. Rentals here can reach an average of $1740. The economic boom has been accompanied by the growth of urban amenities.More people, more jobs imply bigger standards and that implies a bigger cost of living. The price of the creation of these imperial cities is that they actually provide decreasing opportunities for many of those who already live in them, or for those who move to them and are not already armed with resources, status, and education. House rent prices rise much faster than wages, which means that rental houses in America become less and less affordable. Did you know that New York State has had the longest history of rent controls? Since 1943. The current system is very complicated, which is especially troublesome as most of the protected renters are elderly. Interesting thing is that in some regions, rent control laws are more commonly adopted for mobile home parks. Reasons given for these laws include residents owning their homes and the loss of home value when they are moved. Rent regulation in the United States is still an issue for each state. Without rent control, even tenants paying full rent can be forced unexpectedly from their homes through no fault of their own.
If you want to see what are the most expensive cities to rent in America in 2015, check Insider Monkey’s list of 11 Most Expensive Cities to Rent in America in 2015 and find out how much do you need for living and for renting.