Luxury Rents Are 40% Higher Than Non-Luxury; Look Up Rent Prices in Your City [Interactive Table]

Rents in Low-End and Mid-Tier Buildings Rise Faster Than in High-End Buildings

Up until recently, luxury rents have been typically growing faster than non-luxury rents, but this year the pattern is completely reversed. As of the 2nd quarter of 2016, luxury rent prices were wavering quite a bit, slowing their growth to 4.7% (after registering a growth rate of 6.5% in Q2 last year). Over the same period of time, rents in middle-income housing continued their bold ascent, rising by 5.8% in Q2 2016 (only slightly slower than Q2 2015), rubbing more salt into the wound for a large number of American renters who are already overburdened by high rent costs.

 

This doesn’t mean that high-end rents have been going down, but that the amount they’ve been rising by has been slowing. For example, rents in June 2016 were higher than in June 2015, but by a smaller margin than they were between June 2014 and June 2015.

On Average, Luxury Rentals Cost Almost 40% More Than Non-Luxury Rentals

Though the climb of luxury rents may be tapering off — and that’s a big “maybe” — they’re still at a level significantly above non-luxury apartment prices. Nationwide, the average monthly rate in a luxury building is currently $1,551 versus $1,117 in a mid-tier building. In other words, if you’re looking to upgrade to a high-end apartment this year, you would pay an average of $434 more per month, or 39% more. See how much you would pay in your city.

 

Prices in the Northeast Are 2.3 Times Higher Than in the South

Not all luxury is created equal. In the regions along the West Coast and North East Coast, rent prices are sky-high, while in the South, West, Southeast and Southwest prices tend to be more down-to-earth rent-wise. In other words, one region’s average apartment is another’s luxury. About the same money that rents a regular apartment in the Northeast, in the Mid-Atlantic region, or in California, gets you an upscale apartment in the South.

 

In the Northeast, rent prices are as spectacular as the rental properties. One example is 50 Columbus in Jersey City, NJ. Designed by well-known architect Costas Kondylis, this is a premium residential tower located in Jersey City’s vibrant downtown Grove Street district. The community boasts awe-inspiring interiors by designer Andres Escobar, basking in an abundance of natural light, with incredible views of the Manhattan skyline, the Hudson River, the Statue of Liberty and the Harbor. Asking rents start in the $2,000’s for studios to the $6,000’s for 3-bedroom apartments. Located in one of the more expensive cities in the Northeast region, rental apartments in Jersey City average $2,940 per month for luxury units and $1,748 for mid-range apartments.

In the South, luxury feels warm and inviting — and somewhat more affordable — at the upscale rental community Cadence Cool Springs in Franklin, TN, where a top-of-the-line, three-bedroom unit rents for up to $2,750. Part of the Simpson Property Group, LP portfolio, Cadence offers resort-style saltwater pool, a car care center and free bike rentals, a state-of-the art fitness center with yoga/spin studio and loft-like interiors with impeccable quality finishes throughout. Newer high-end apartments in the Nashville Metropolitan Area cost on average $1,344 per month, while older mid-range apartments rent on average for $921 per month.

Luxury Apartments Almost Twice as Expensive in Detroit and Chicago

Where you live certainly dictates how much more it costs to rent in a luxury building as opposed to a building catering to middle-income renters.For instance, in Detroit, MI; Chicago; Milwaukee, WI; and Memphis, TN, the cost of a high-end rental is 80-90% more than a regular apartment.

But luxury appears more attainable elsewhere. In Albuquerque, NM, for example, average rents in upscale buildings are only 34% more ($720 vs $966). Or, in the case of San Jose, CA, the cost difference is only 32% ($2,135 vs $2,819) — with the caveat that San Jose’s rents are 3 times higher than those in Albuquerque.

The following chart shows the top 15 cities (with a population over 500,000) where the price difference between mid-tier rentals versus luxury rentals is the most significant.

*Includes cities with a population of at least 500,000In net dollar amounts, the largest price gaps are in the San Francisco Bay area and in the New York area. In Oakland, CA, for instance, it costs on average $1,764 dollars more per month to rent a high-end apartment in comparison to a low-to-mid-tier apartment. Similarly, it costs on average $1,265 more per month to upgrade to a luxury unit in New York.

By contrast, if you lived in El Paso, TX, for instance, you’d only spend on average $277 more per month for a luxury apartment, or $288 more in Las Vegas, NV. Not surprisingly, the Windy City is also a top city in terms of net rent difference: A luxury apartment in Chicago is, on average, $1,139 more expensive to rent than a mid-range one.

Even Average Apartments Are Beyond the Means of 21.3 Million Renters

With so much talk about luxury, we don’t want to lose focus on what’s important to the average renters: Can they afford their rent? Well, the answer is “no” for almost half of American renters.

The Harvard Joint Center for Housing Studies (JCHS) found that “As of 2014, just under half (49.3) of renters were housing cost-burdened, spending more than 30 percent of income on housing costs.” That’s a total of 21.3 million renters.

Looking at the median income in each of the top 15 cities covered in the chart above, we found that in five out of those 15 cities (Los Angeles, Philadelphia, Detroit, Chicago and Milwaukee) the rent cost represents more than 30% of the median income. Thus, renting an upscale apartment in those cities is simply out of reach, as it would mean spending about 60-70% of income on rent.

This reopens the housing affordability debate once more. According to the JCHS, the problem stems from the accelerated growth in the number of renter households taking place this decade — causing a surge in demand — coupled with the inadequate rental housing supply in terms of both quantity and price. The burden of high rents is no longer a problem only faced by low-income renters. With the supply focused largely on high-end high-priced rental developments, the problem is also present among moderate-income renters.

Though the “under 30% of income” rule of thumb for what we consider affordable rent has been used for decades as a measure for housing affordability trends and reports, affordability assessments should also account for other measures such as location, household size, and secondary expenses.

For many getting to and from work is the second-largest monthly expense, one that’s directly tied to where they live. An apartment on the outskirts of the city or in a suburb may look cheap, but add in gas for an hour-long commute and the cost rises considerably. Therefore, for some, moving into a high-end building near the downtown business area where they work should, in theory, cut transportation costs significantly, in which case spending more on rent may make financial sense. Granted, that scenario won’t work everywhere or for everyone.

Find rent prices in your city in the interactive table* below:

Rank	State	City	Avg. Non-Luxury Rent	Avg. Luxury Rent	Amount Difference	Percentage Difference
1	NY	Rochester	$879	$2,004	$1,125	128%
2	IN	South Bend	$705	$1,506	$801	114%
3	OH	Cleveland	$804	$1,699	$895	111%
4	FL	Ft. Lauderdale	$993	$2,030	$1,037	104%
5	SC	West Columbia	$661	$1,351	$690	104%
6	CA	Oakland	$1,749	$3,513	$1,764	101%
7	MO	St. Louis	$778	$1,553	$775	100%
8	OH	Toledo	$596	$1,152	$556	93%
9	NJ	West New York	$1,436	$2,755	$1,319	92%
10	MI	Detroit	$789	$1,512	$723	92%
11	IL	Evanston	$1,237	$2,370	$1,133	92%
12	TX	Lubbock	$711	$1,359	$648	91%
13	MI	Grand Rapids	$857	$1,589	$732	85%
14	OK	Norman	$787	$1,459	$672	85%
15	NJ	Newark	$1,071	$1,979	$908	85%
16	FL	Homestead	$848	$1,556	$708	83%
17	IL	Chicago	$1,368	$2,507	$1,139	83%
18	CO	Glendale	$1,023	$1,872	$849	83%
19	OH	Cincinnati	$816	$1,487	$671	82%
20	IN	West Lafayette	$763	$1,376	$613	80%
21	CA	San Pedro	$1,358	$2,446	$1,088	80%
22	CA	N. Hollywood	$1,403	$2,525	$1,122	80%
23	LA	New Orleans	$882	$1,580	$698	79%
24	WI	Milwaukee	$922	$1,649	$727	79%
25	TN	Memphis	$626	$1,119	$493	79%
26	MI	Ann Arbor	$1,258	$2,219	$961	76%
27	MA	Natick	$1,403	$2,459	$1,056	75%
28	NJ	Bayonne	$1,227	$2,140	$913	74%
29	PA	Philadelphia	$1,254	$2,176	$922	74%
30	CT	Ellington	$878	$1,520	$642	73%
31	CT	Hartford	$1,012	$1,749	$737	73%
32	MD	Baltimore	$1,023	$1,766	$743	73%
33	MD	Hyattsville	$1,248	$2,146	$898	72%
34	IL	Vernon Hills	$1,165	$1,997	$832	71%
35	NJ	Fair Lawn	$1,422	$2,434	$1,012	71%
36	NC	Wilmington	$930	$1,589	$659	71%
37	TX	Houston	$819	$1,398	$579	71%
38	NJ	Jersey City	$1,766	$3,007	$1,241	70%
39	NJ	Fort Lee	$1,839	$3,131	$1,292	70%
40	AL	Auburn	$848	$1,443	$595	70%
41	NJ	Parlin	$1,143	$1,941	$798	70%
42	TX	Dallas	$833	$1,411	$578	69%
43	AZ	Tucson	$672	$1,138	$466	69%
44	NJ	Englewood	$1,539	$2,598	$1,059	69%
45	NJ	Bloomfield	$1,265	$2,129	$864	68%
46	OH	Columbus	$747	$1,254	$507	68%
47	GA	Statesboro	$871	$1,436	$565	65%
48	CA	Los Angeles	$1,777	$2,925	$1,148	65%
49	CA	West Sacramento	$912	$1,500	$588	64%
50	CA	Encino	$1,620	$2,658	$1,038	64%
51	NJ	Hackensack	$1,436	$2,349	$913	64%
52	MI	Novi	$971	$1,588	$617	64%
53	FL	Tallahassee	$949	$1,551	$602	63%
54	TX	College Station	$1,124	$1,832	$708	63%
55	MN	Minneapolis	$1,112	$1,809	$697	63%
56	GA	Augusta	$693	$1,123	$430	62%
57	TX	Midland	$848	$1,370	$522	62%
58	CA	Redwood City	$2,138	$3,451	$1,313	61%
59	VA	Norfolk	$892	$1,437	$545	61%
60	CA	Valley Village	$1,716	$2,750	$1,034	60%
61	PA	Wexford	$893	$1,428	$535	60%
62	SC	Mauldin	$629	$1,004	$375	60%
63	MN	St. Paul	$980	$1,559	$579	59%
64	PA	Pittsburgh	$1,005	$1,595	$590	59%
65	MI	East Lansing	$1,139	$1,807	$668	59%
66	CT	Storrs	$1,313	$2,082	$769	59%
67	OH	Perrysburg	$683	$1,083	$400	59%
68	CA	Pleasant Hill	$1,655	$2,624	$969	59%
69	LA	Baton Rouge	$882	$1,397	$515	58%
70	MO	Kansas City	$742	$1,173	$431	58%
71	SC	Columbia	$768	$1,214	$446	58%
72	FL	Miami	$1,198	$1,893	$695	58%
73	NJ	Morristown	$1,794	$2,827	$1,033	58%
74	IN	Indianapolis	$708	$1,115	$407	57%
75	DC	Washington	$1,738	$2,737	$999	57%
76	CA	Long Beach	$1,545	$2,432	$887	57%
77	CA	Glendale	$1,707	$2,686	$979	57%
78	OK	Oklahoma City	$659	$1,036	$377	57%
79	MI	Canton	$947	$1,484	$537	57%
80	TX	Edinburg	$629	$984	$355	56%
81	NJ	Long Branch	$1,540	$2,409	$869	56%
82	CA	Newport Beach	$1,868	$2,922	$1,054	56%
83	NY	Liverpool	$845	$1,321	$476	56%
84	CA	Chula Vista	$1,291	$2,017	$726	56%
85	MN	St. Louis Park	$1,078	$1,684	$606	56%
86	NC	Winston-Salem	$593	$925	$332	56%
87	NY	Elmsford	$1,916	$2,988	$1,072	56%
88	FL	Pinellas Park	$891	$1,386	$495	56%
89	AZ	Tempe	$920	$1,431	$511	56%
90	TX	Odessa	$794	$1,234	$440	55%
91	TX	Fort Worth	$796	$1,237	$441	55%
92	OH	Parma Heights	$712	$1,105	$393	55%
93	TN	Nashville	$973	$1,510	$537	55%
94	SC	Greenville	$778	$1,207	$429	55%
95	CA	Santa Ana	$1,539	$2,384	$845	55%
96	IL	Glenview	$1,294	$2,004	$710	55%
97	RI	Middletown	$1,345	$2,081	$736	55%
98	MO	St. Charles	$837	$1,294	$457	55%
99	NJ	Somerset	$1,408	$2,170	$762	54%
100	OH	Mason	$835	$1,286	$451	54%
101	NY	White Plains	$2,035	$3,132	$1,097	54%
102	MD	College Park	$1,665	$2,561	$896	54%
103	PA	Coraopolis	$826	$1,270	$444	54%
104	OH	Kent	$939	$1,442	$503	54%
105	FL	Pompano Beach	$1,042	$1,600	$558	54%
106	TX	Waco	$797	$1,221	$424	53%
107	OK	Tulsa	$623	$954	$331	53%
108	DE	Wilmington	$1,027	$1,572	$545	53%
109	KS	Kansas City	$669	$1,022	$353	53%
110	GA	Atlanta	$954	$1,453	$499	52%
111	MA	Burlington	$1,562	$2,379	$817	52%
112	CA	Campbell	$2,233	$3,391	$1,158	52%
113	NC	Huntersville	$770	$1,166	$396	51%
114	FL	Fort Walton Beach	$836	$1,265	$429	51%
115	FL	Daytona Beach	$831	$1,257	$426	51%
116	MS	Jackson	$683	$1,032	$349	51%
117	SC	Anderson	$685	$1,035	$350	51%
118	NC	Chapel Hill	$1,032	$1,558	$526	51%
119	NJ	New Brunswick	$1,440	$2,170	$730	51%
120	MD	Chevy Chase	$1,878	$2,830	$952	51%
121	NC	Kernersville	$606	$912	$306	50%
122	CA	Concord	$1,682	$2,531	$849	50%
123	NY	Coram	$1,568	$2,358	$790	50%
124	TX	Farmers Branch	$945	$1,420	$475	50%
125	FL	Jupiter	$1,137	$1,708	$571	50%
126	TX	Rosenberg	$809	$1,215	$406	50%
127	AZ	Phoenix	$729	$1,094	$365	50%
128	MD	Pikesville	$1,169	$1,754	$585	50%
129	FL	St. Petersburg	$920	$1,380	$460	50%
130	TX	Addison	$1,003	$1,503	$500	50%
131	CA	Norwalk	$1,335	$1,999	$664	50%
132	OR	Portland	$1,179	$1,765	$586	50%
133	WA	Kennewick	$765	$1,143	$378	49%
134	NC	Concord	$703	$1,050	$347	49%
135	NY	Yonkers	$1,554	$2,317	$763	49%
136	CA	Pasadena	$1,738	$2,591	$853	49%
137	FL	Tampa	$940	$1,401	$461	49%
138	OR	Eugene	$1,001	$1,491	$490	49%
139	FL	Miami Beach	$1,932	$2,873	$941	49%
140	MA	Billerica	$1,519	$2,258	$739	49%
141	CA	Napa	$1,569	$2,331	$762	49%
142	CA	Clovis	$887	$1,317	$430	48%
143	VA	Reston	$1,581	$2,347	$766	48%
144	MO	Lee's Summit	$750	$1,113	$363	48%
145	VA	Falls Church	$1,550	$2,300	$750	48%
146	CO	Golden	$1,213	$1,796	$583	48%
147	CA	Canoga Park	$1,460	$2,160	$700	48%
148	CA	San Diego	$1,550	$2,293	$743	48%
149	CA	San Bernardino	$972	$1,434	$462	48%
150	IL	Woodridge	$1,068	$1,575	$507	47%
151	NJ	Montclair	$1,737	$2,561	$824	47%
152	NV	Sparks	$842	$1,241	$399	47%
153	WI	Kenosha	$780	$1,149	$369	47%
154	CA	La Jolla	$1,625	$2,387	$762	47%
155	NV	Reno	$854	$1,254	$400	47%
156	NE	Bellevue	$770	$1,130	$360	47%
157	SC	Charleston	$1,004	$1,473	$469	47%
158	AL	Homewood	$886	$1,299	$413	47%
159	GA	Chamblee	$886	$1,299	$413	47%
160	GA	Macon	$625	$915	$290	46%
161	MD	Landover	$1,281	$1,875	$594	46%
162	VA	Williamsburg	$895	$1,308	$413	46%
163	NJ	Perth Amboy	$1,314	$1,919	$605	46%
164	KY	Lexington	$761	$1,111	$350	46%
165	TX	Corpus Christi	$866	$1,264	$398	46%
166	NY	New Rochelle	$1,852	$2,698	$846	46%
167	NE	Papillion	$673	$980	$307	46%
168	CA	Mountain View	$2,690	$3,908	$1,218	45%
169	NV	North Las Vegas	$660	$958	$298	45%
170	MI	Howell	$884	$1,282	$398	45%
171	FL	Jacksonville	$773	$1,121	$348	45%
172	TX	San Antonio	$804	$1,165	$361	45%
173	MA	Boston	$2,482	$3,591	$1,109	45%
174	CO	Denver	$1,205	$1,743	$538	45%
175	NC	Charlotte	$845	$1,222	$377	45%
176	AL	Phenix City	$655	$947	$292	45%
177	TX	Baytown	$784	$1,133	$349	45%
178	VA	Portsmouth	$834	$1,201	$367	44%
179	FL	Pensacola	$760	$1,094	$334	44%
180	GA	Hinesville	$697	$1,002	$305	44%
181	CA	San Bruno	$2,362	$3,393	$1,031	44%
182	NJ	Voorhees	$1,185	$1,702	$517	44%
183	AL	Birmingham	$730	$1,048	$318	44%
184	MS	Pearl	$607	$871	$264	43%
185	KS	Wichita	$590	$846	$256	43%
186	CA	Sacramento	$1,029	$1,475	$446	43%
187	CA	San Francisco	$3,046	$4,365	$1,319	43%
188	TX	Lake Jackson	$950	$1,360	$410	43%
189	CA	West Hollywood	$2,172	$3,109	$937	43%
190	AR	Little Rock	$684	$979	$295	43%
191	MD	Bethesda	$1,849	$2,646	$797	43%
192	AZ	Glendale	$707	$1,011	$304	43%
193	CA	San Rafael	$2,088	$2,985	$897	43%
194	AZ	Scottsdale	$913	$1,305	$392	43%
195	WI	Madison	$1,052	$1,503	$451	43%
196	WI	Fitchburg	$882	$1,260	$378	43%
197	KY	Louisville	$780	$1,114	$334	43%
198	TX	Irving	$855	$1,218	$363	42%
199	IA	Des Moines	$731	$1,041	$310	42%
200	LA	Kenner	$729	$1,038	$309	42%
201	CA	Hanford	$772	$1,099	$327	42%
202	CO	Colorado Springs	$820	$1,167	$347	42%
203	WI	Wauwatosa	$1,066	$1,516	$450	42%
204	MI	Rochester Hills	$1,023	$1,454	$431	42%
205	CT	New Haven	$1,313	$1,865	$552	42%
206	MA	Revere	$1,481	$2,103	$622	42%
207	OH	West Chester	$978	$1,388	$410	42%
208	FL	Largo	$909	$1,289	$380	42%
209	CA	Bakersfield	$851	$1,206	$355	42%
210	CA	Santa Maria	$1,262	$1,788	$526	42%
211	TX	Grapevine	$959	$1,357	$398	42%
212	TX	Texas City	$731	$1,034	$303	41%
213	NJ	Cherry Hill	$1,257	$1,778	$521	41%
214	IN	Fort Wayne	$650	$919	$269	41%
215	TN	Murfreesboro	$826	$1,167	$341	41%
216	CA	Fairfield	$1,326	$1,873	$547	41%
217	CT	Stamford	$1,851	$2,614	$763	41%
218	MN	Apple Valley	$961	$1,357	$396	41%
219	CA	Rancho Cordova	$941	$1,328	$387	41%
220	CA	Oxnard	$1,491	$2,104	$613	41%
221	CA	Fresno	$847	$1,195	$348	41%
222	TN	Knoxville	$804	$1,134	$330	41%
223	CA	Northridge	$1,592	$2,240	$648	41%
224	NC	Garner	$753	$1,057	$304	40%
225	VA	Newport News	$820	$1,151	$331	40%
226	TX	Denton	$922	$1,294	$372	40%
227	GA	Columbus	$692	$970	$278	40%
228	FL	Ocala	$737	$1,033	$296	40%
229	TX	El Paso	$693	$970	$277	40%
230	MA	Peabody	$1,607	$2,247	$640	40%
231	TX	Pasadena	$755	$1,055	$300	40%
232	OH	Hilliard	$864	$1,207	$343	40%
233	LA	Gonzales	$907	$1,267	$360	40%
234	CA	Anaheim	$1,505	$2,102	$597	40%
235	MN	White Bear Lake	$978	$1,365	$387	40%
236	UT	Salt Lake City	$950	$1,325	$375	39%
237	MA	Lowell	$1,288	$1,796	$508	39%
238	NC	Durham	$838	$1,168	$330	39%
239	VA	Arlington	$1,728	$2,408	$680	39%
240	CA	Visalia	$852	$1,187	$335	39%
241	TN	Chattanooga	$777	$1,082	$305	39%
242	PA	King of Prussia	$1,231	$1,714	$483	39%
243	TX	Universal City	$711	$989	$278	39%
244	FL	Casselberry	$817	$1,136	$319	39%
245	GA	Decatur	$807	$1,122	$315	39%
246	FL	Deerfield Beach	$1,122	$1,559	$437	39%
247	NV	Las Vegas	$740	$1,028	$288	39%
248	MO	Creve Coeur	$994	$1,380	$386	39%
249	NY	New York City*	$3,265	$4,530	$1,265	39%
250	WA	Tumwater	$823	$1,141	$318	39%
251	IL	Wheaton	$1,253	$1,735	$482	38%
252	FL	Orlando	$991	$1,372	$381	38%
253	WA	Auburn	$985	$1,363	$378	38%
254	GA	College Park	$674	$932	$258	38%
255	TX	Georgetown	$879	$1,215	$336	38%
256	CA	Pomona	$1,290	$1,783	$493	38%
257	FL	Hollywood	$1,118	$1,544	$426	38%
258	NE	Omaha	$759	$1,048	$289	38%
259	TN	Smyrna	$809	$1,117	$308	38%
260	FL	Davie	$1,219	$1,683	$464	38%
261	CA	Modesto	$983	$1,357	$374	38%
262	TX	Richmond	$875	$1,207	$332	38%
263	WA	Seattle	$1,554	$2,143	$589	38%
264	MA	Cambridge	$2,406	$3,316	$910	38%
265	CO	Englewood	$1,120	$1,543	$423	38%
266	NJ	Princeton	$1,799	$2,478	$679	38%
267	IA	Ankeny	$842	$1,159	$317	38%
268	OR	Salem	$850	$1,170	$320	38%
269	WA	Olympia	$912	$1,255	$343	38%
270	CA	Redondo Beach	$1,933	$2,657	$724	37%
271	TX	Austin	$1,044	$1,435	$391	37%
272	CA	Santa Monica	$3,041	$4,177	$1,136	37%
273	NM	Las Cruces	$664	$912	$248	37%
274	MI	Kalamazoo	$780	$1,071	$291	37%
275	WI	Brookfield	$1,164	$1,597	$433	37%
276	MN	St. Cloud	$706	$968	$262	37%
277	FL	Gainesville	$981	$1,345	$364	37%
278	TX	Balch Springs	$702	$962	$260	37%
279	MO	Independence	$616	$844	$228	37%
280	TN	Franklin	$1,098	$1,504	$406	37%
281	MN	Woodbury	$1,104	$1,512	$408	37%
282	CO	Broomfield	$1,142	$1,564	$422	37%
283	MN	Hopkins	$997	$1,365	$368	37%
284	FL	Sarasota	$1,054	$1,442	$388	37%
285	NM	Rio Rancho	$747	$1,021	$274	37%
286	TX	Haltom City	$758	$1,036	$278	37%
287	MD	Windsor Mill	$1,080	$1,474	$394	36%
288	CA	San Mateo	$2,684	$3,663	$979	36%
289	PA	Lansdale	$1,253	$1,710	$457	36%
290	CA	La Mesa	$1,434	$1,957	$523	36%
291	FL	Miramar	$1,344	$1,834	$490	36%
292	IL	Bloomingdale	$1,086	$1,481	$395	36%
293	NC	Burlington	$686	$935	$249	36%
294	AL	Mobile	$728	$992	$264	36%
295	WA	Lacey	$848	$1,155	$307	36%
296	CA	Lake Elsinore	$1,035	$1,409	$374	36%
297	CA	Carlsbad	$1,726	$2,349	$623	36%
298	FL	Sunrise	$1,215	$1,653	$438	36%
299	MD	Glen Burnie	$1,174	$1,597	$423	36%
300	UT	Midvale	$919	$1,250	$331	36%

*New York City refers to Manhattan

*The interactive table contains the top 300 U.S. cities with at least 800 apartment units. 

How We Compiled the Data

RentCafe is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. Rent prices were obtained from the Yardi Matrix database, RentCafe’s sister company that specializes in apartment market intelligence, providing up-to-date information on large-scale multi-family properties of 50 units or more. Based on Yardi Matrix’s definition and classification of the apartment market by rental household segments, high-end or luxury rental properties are those that fall into the discretionary (Class A+/A) and high mid-range (Class A-/B+) class categories. Mid-tier and lower-end rental properties (Classes B, C and D) cater to middle and low-mid-income households.