If you currently have the chance to pick one state or city to reside in for work or for any other purpose, here is one question that you should consider - what cities have the highest rental rates?
Unless you are up for a high paying, worthy job, you may find the need to consider the rental rates before moving to a new city. But if your company provides the rental fund, then have at it. Here are some of the cities where rent is the worst.
Where rent for a one bedroom home exceeds $3K:
Manhattan
San Francisco
Brooklyn
Queens
The Bronx
The median rent in Manhattan is at $3250 for a 1BR home and this figure also applies in San Francisco. However, the rental rate still varies across the abovementioned areas. Manhattan has the most expensive rental, especially in Battery Park City and Flatiron District. The other four areas may have lower rates except Brooklyn's Vinegar Hill where a large 94.7% of the 1 BR homes do not go lower than $3K.
Where rent for a one bedroom home exceeds $2K:
Boston
Washington
Los Angeles
Boston has a median rent of $2300 for the one bedroom home and a few parts of it should be avoided more than the others if you are a budget conscious renter. The higher priced rentals are located in West End, Downtown Boston, Chinatown/Leather District, and Back Bay.
Both home buying and home renting in the mentioned cities are not very cheap, especially in the particularly expensive neighborhoods that are nearer to the cities' center. Affordable homes that are either for sale or for rent have all become very scarce especially in the rather desirable communities in the urban areas. So, if you still have a chance to pick another city, try to avoid these locations, especially if you are budget conscious. But of course, if you don't mind paying high rentals, these cities are probably worth it as well.
