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Hint: 8 out of 10 are in one metropolitan area….
It’s no surprise that the majority of the most expensive zip codes in the United States are located in New York City. Rents have been soaring for decades in the Big Apple and the highest average rent, according to new data collected by RENTCafe from Yardi Matrix, is nearly $6k per month. Certain factors, however, most likely contributed to making the 10282 zip code the priciest in the United States. For starters, it’s very near to the former Twin Towers, where major reconstruction has incurred since 2001, including the opening of One World Trade Center. This – plus the close proximity to the river and an excellent neighboring high school – undoubtedly raised the cost of living in the area.
The next runner up for the priciest spot on the map is the Lennox Hill neighborhood just below the Upper East Side in Manhattan. However, a quick jump across Central Park brings you to another spot on the most expensive residential map: the Upper West Side. The UWS neighborhood shows up twice on the list and includes all of Riverside Park, which is a narrow waterfront park that runs up the isle of northern Manhattan. The average rent for the majority of the priciest Manhattan neighborhoods is around $4.5k per month.
But what about other places in the United States? Surely the most expensive aren’t all located in New York? It’s an interesting find that the top twenty list only includes two other states: California (as expected) and Massachusetts. While Massachusetts is an unusual contender on the list, it’s not really a surprise that the number 12 spot is in Boston ($4,227 per month). San Francisco, however, is up there in the top five most expensive zip codes, with 94129 coming in at number 4 and 94105 coming in at number 9.
1. 10282, Manhattan (NY). Average Rent: $5,924
2. 10065, Manhattan (NY). Average Rent: $4,898
3. 10023, Manhattan (NY). Average Rent: $4,892
4. 94129, San Francisco (CA). Average Rent: $4,762
5. 10025, Manhattan (NY). Average Rent: $4,525
6. 10024, Manhattan (NY). Average Rent: $4,535
7. 10002, Manhattan (NY). Average Rent: $4,441
8. 10013, Manhattan (NY). Average Rent: $4,422
9. 94105, San Francisco (CA). Average Rent: $4,380
10. 10036, Manhattan (NY). Average Rent: $4,375
*Data collected by Yardi Matrix.