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Report finds that New York City rental prices continue to climb

Taxis in Times square with 7th avenue, new york city, manhattan
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A Zumper.com report says that the median one-bedroom apartment last month in New York City cost $2,043. 

This report covers 13 cities in the metro area to bring to attention the most and least expensive cities and cities with the fastest-growing rents. New York City is one of the highest with an average cost of $3,100 for a one-bedroom rental. In addition, New York City had the fastest-growing rent, climbing 22% since last year. West New York and Newark rent had the largest year-over-year declines, both falling 15%. 

Fort Lee, New Jersey got into the top 3 with an average of $2,550 and right after is Hoboken with the difference of just $70. 

We already know the most expensive place to be is NYC, but relying on this report, Newark is the cheapest one — the median price for a one-bedroom apartment there is just $1,260, almost twice less. A bit pricier there is East Orange where the average rent cost for a one-bedroom stands at $1,440. Union City appears to rent out one-bedrooms for $1,460, which is just $20 difference. 

To read the full report, visit www.zumper.com

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