Georgia locked in for one city in the top 100... and it wasn't Atlanta.
Rent.com just named the Top 100 places you will be shelling out loads of money on rent. As you'd expect, California, had 5 cities in the Top 10 and 41 cities in the Top 100 most expensive places to rent. Jersey City, NJ topped the list with an average of $5,500 to rent a place. THAT'S MIND BLOWING?!
The data was compiled from Rent's multifamily rental property inventory 1 & 2 Bedroom units over June 2022 and June 2021. They excluded based on some factors with populations over 55,000. However, over the past few years, rent everywhere has skyrocketed in price. Some places have seen a whopping 66% increase over 1 year.
Atlanta, shockingly wasn't in the top 100, but one GA city just outside the perimeter did. Alpharetta ranked in at #80 for highest rent in the country. With a population of 67,213, rent averaged around $2,094. That's an increase of over 4% YoY.
A lot of the places on The West Coast with the highest rent are home to big start up tech companies. Those jobs tend to bring in high dollar paychecks and the rent reflects that. A few of those on the list are Santa Clara (No. 15), South San Francisco (No. 17), Sunnyvale (No. 18), San Jose (No. 23) and Palo Alto (No. 3).
The South also houses some astronomical rents pricing, most of which is because of Florida. Miami (33rd), Coral Gables (No. 6), Doral (No. 37), Palm Beach (No. 58), West Palm Beach (No. 57) Hialeah (No. 63) and Margate (No. 81). The tropical weather is a hot commodity and we know what happens with supply and demand.
Many people in their 20's are finding it hard to keep up with the inflated pricing just to rent a small 1 bedroom anywhere.