Here’s What an Average Apartment Costs in 46 US Cities
At the start of 2024, the average cost of monthly rent across the U.S. was $1,400. That total, from Statista, reflects the wide range of rent prices across the country, as costs in major cities can be 50% higher for a one or two-bedroom.
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If you’re in the market for an apartment, it’s useful to know what you’re looking at in terms of average pricing. This GOBankingRates data compares the overall average rent for 46 U.S. cities, breaking down the costs further for one- and two-bedroom units.
You can also check out the salary you need to make to afford to rent a one-bedroom apartment in every state.
New York
Population total: 8,622,467
Household median income: $76,607
Condo COOP average value: $6692,891
Total cost of living monthly: $5,149
Overall average rent: $2,238
1 bedroom average rent: $2,136
2 bedroom average rent: $2,253
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Los Angeles
Population total: 3,881,041
Household median income: $76,244
Condo COOP average value: $668,681
Total cost of living monthly: $4,426
Overall average rent: $2,067
1 bedroom average rent: $1,849
2 bedroom average rent: $2,357
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Chicago
Population total: 2,721,914
Household median income: $71,673
Condo COOP average value: $280,736
Total cost of living monthly: $3,806
Overall average rent: $1,643
1 bedroom average rent: $1,523
2 bedroom average rent: $1,658
Houston
Population total: 2,296,253
Household median income: $60,440
Condo COOP average value: $156,611
Total cost of living monthly: $3,361
Overall average rent: $1,287
1 bedroom average rent: $1,136
2 bedroom average rent: $1,346
Phoenix
Population total: 1,609,456
Household median income: $72,092
Condo COOP average value: $281,397
Total cost of living monthly: $3,431
Overall average rent: $1,360
1 bedroom average rent: $1,166
2 bedroom average rent: $1,390
Philadelphia
Population total: 1,593,208
Household median income: $57,537
Condo COOP average value: $281,086
Total cost of living monthly: $3,698
Overall average rent: $1,390
1 bedroom average rent: $1,271
2 bedroom average rent: $1,470
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San Antonio
Population total: 1,445,662
Household median income: $59,593
Condo COOP average value: $185,190
Total cost of living monthly: $3,136
Overall average rent: $1,212
1 bedroom average rent: $1,036
2 bedroom average rent: $1,276
San Diego
Population total: 1,383,987
Household median income: $98,657
Condo COOP average value: $681,384
Total cost of living monthly: $4,445
Overall average rent: $2,274
1 bedroom average rent: $1,938
2 bedroom average rent: $2,429
Dallas
Population total: 1,300,642
Household median income: $63,985
Condo COOP average value: $237,852
Total cost of living monthly: $3,452
Overall average rent: $1,354
1 bedroom average rent: $1,237
2 bedroom average rent: $,1464
San Jose, California
Population total: 1,001,176
Household median income: $136,010
Condo COOP average value: $748,158
Total cost of living monthly: $5,117
Overall average rent: $2,679
1 bedroom average rent: $2,331
2 bedroom average rent: $2,766
Read Next: 7 Worst States To Buy Property in the Next 5 Years, According to Real Estate Agents
Austin, Texas
Population total: 958,202
Household median income: $86,556
Condo COOP average value: $404,554
Total cost of living monthly: $3,557
Overall average rent: $1,501
1 bedroom average rent: $1,330
2 bedroom average rent: $1,619
Jacksonville, Florida
Population total: 950,203
Household median income: $64,138
Condo COOP average value: $204,445
Total cost of living monthly: $3,364
Overall average rent: $1,340
1 bedroom average rent: $1,127
2 bedroom average rent: $1,326
Fort Worth, Texas
Population total: 924,663
Household median income: $72,726
Condo COOP average value: $286,389
Total cost of living monthly: $3,454
Overall average rent: $1,373
1 bedroom average rent: $1,172
2 bedroom average rent: $1,353
Columbus, Ohio
Population total: 902,449
Household median income: $62,994
Condo COOP average value: $204,843
Total cost of living monthly: $3,167
Overall average rent: $1,262
1 bedroom average rent: $1,089
2 bedroom average rent: $1,304
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Indianapolis
Population total: 882,006
Household median income: $59,110
Condo COOP average value: $193,781
Total cost of living monthly: $3,108
Overall average rent: $1,219
1 bedroom average rent: $1,049
2 bedroom average rent: $1,242
Charlotte, North Carolina
Population total: 875,045
Household median income: $74,070
Condo COOP average value: $305,493
Total cost of living monthly: $3,414
Overall average rent: $1,448
1 bedroom average rent: $1,317
2 bedroom average rent: $1,436
San Francisco
Population total: 851,036
Household median income: $136,689
Condo COOP average value: $986,998
Total cost of living monthly: $5,157
Overall average rent: $2,620
1 bedroom average rent: $2,645
2 bedroom average rent: $3,135
Seattle
Population total: 734,603
Household median income: $116,068
Condo COOP average value: $497,137
Total cost of living monthly: $4,107
Overall average rent: $1,976
1 bedroom average rent: $1,844
2 bedroom average rent: $2,301
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Denver
Population total: 710,800
Household median income: $85,853
Condo COOP average value: $353,377
Total cost of living monthly: $3,796
Overall average rent: $1,737
1 bedroom average rent: $1,537
2 bedroom average rent: $1,914
Nashville
Population total: 684,103
Household median income: $71,328
Condo COOP average value: $367,450
Total cost of living monthly: $3,417
Overall average rent: $1,404
1 bedroom average rent: $1,258
2 bedroom average rent: $1,399
Oklahoma City
Population total: 681,088
Household median income: $64,251
Condo COOP average value: $131,937
Total cost of living monthly: $3,057
Overall average rent: $1,085
1 bedroom average rent: $895
2 bedroom average rent: $1,109
El Paso, Texas
Population total: 677,181
Household median income: $55,710
Condo COOP average value: $170,905
Total cost of living monthly: $2,951
Overall average rent: $1,073
1 bedroom average rent: $854
2 bedroom average rent: $1,023
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Washington
Population total: 670,587
Household median income: $101,722
Condo COOP average value: $433,377
Total cost of living monthly: $4,463
Overall average rent: $2,121
1 bedroom average rent: $2,096
2 bedroom average rent: $2,152
Boston
Population total: 665,945
Household median income: $89,212
Condo COOP average value: $719,246
Total cost of living monthly: $4,608
Overall average rent: $2,302
1 bedroom average rent: $2,213
2 bedroom average rent: $2,331
Portland, Oregon
Population total: 646,101
Household median income: $85,876
Condo COOP average value: $345,209
Total cost of living monthly: $3,635
Overall average rent: $1,527
1 bedroom average rent: $1,387
2 bedroom average rent: $1,644
Las Vegas
Population total: 644,835
Household median income: $66,356
Condo COOP average value: $252,481
Total cost of living monthly: $3,564
Overall average rent: $1,399
1 bedroom average rent: $1,100
2 bedroom average rent: $1,334
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Detroit
Population total: 636,787
Household median income: $37,761
Condo COOP average value: $218,022
Total cost of living monthly: $3,341
Overall average rent: $1,050
1 bedroom average rent: $759
2 bedroom average rent: $1,017
Mempis, Tennessee
Population total: 630,027
Household median income: $48,090
Condo COOP average value: $184,980
Total cost of living monthly: $2,995
Overall average rent: $1,083
1 bedroom average rent: $905
2 bedroom average rent: $1,026
Louisville, Kentucky
Population total: 629,176
Household median income: $63,114
Condo COOP average value: $200,341
Total cost of living monthly: $3,068
Overall average rent: $1,119
1 bedroom average rent: $915
2 bedroom average rent: $1,150
Baltimore
Population total: 584,548
Household median income: $58,349
Condo COOP average value: $209,194
Total cost of living monthly: $3,501
Overall average rent: $1,405
1 bedroom average rent: $1,189
2 bedroom average rent: $1,488
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Milwaukee
Population total: 573,299
Household median income: $49,733
Condo COOP average value: $186,041
Total cost of living monthly: $3,093
Overall average rent: $1,121
1 bedroom average rent: $939
2 bedroom average rent: $1,120
Albuquerque, New Mexico
Population total: 562,551
Household median income: $61,503
Condo COOP average value: $235,881
Total cost of living monthly: $2,990
Overall average rent: $1,171
1 bedroom average rent: $963
2 bedroom average rent: $1,232
Fresno, California
Population total: 541,528
Household median income: $63,001
Condo COOP average value: $243,054
Total cost of living monthly: $3,359
Overall average rent: $1,326
1 bedroom average rent: $1,050
2 bedroom average rent: $1,295
Tucson, Arizona
Population total: 541,033
Household median income: $52,049
Condo COOP average value: $217,738
Total cost of living monthly: $2,978
Overall average rent: $1,088
1 bedroom average rent: $908
2 bedroom average rent: $1,165
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Sacramento, California
Population total: 523,600
Household median income: $78,954
Condo COOP average value: $368,819
Total cost of living monthly: $3,830
Overall average rent: $1,643
1 bedroom average rent: $1,347
2 bedroom average rent: $1,702
Kansas City, Missouri
Population total: 505,958
Household median income: $65,256
Condo COOP average value: $213,656
Total cost of living monthly: $3,221
Overall average rent: $1,286
1 bedroom average rent: $1,115
2 bedroom average rent: $1,317
Mesa, Arizona
Population total: 503,390
Household median income: $73,766
Condo COOP average value: $253,402
Total cost of living monthly: $3,431
Overall average rent: $1,389
1 bedroom average rent: $1,210
2 bedroom average rent: $1,361
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Atlanta
Population total: 494,838
Household median income: $77,655
Condo COOP average value: $314,719
Total cost of living monthly: $3,670
Overall average rent: $1,528
1 bedroom average rent: $1,532
2 bedroom average rent: $1,533
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Omaha, Nebraska
Population total: 489,201
Household median income: $70,202
Condo COOP average value: $223,481
Total cost of living monthly: $3,168
Overall average rent: $1,193
1 bedroom average rent: $1,021
2 bedroom average rent: $1,248
Colorado Springs, Colorado
Population total: 479,612
Household median income: $79,026
Condo COOP average value: $284,118
Total cost of living monthly: $3,336
Overall average rent: $1,453
1 bedroom average rent: $1,201
2 bedroom average rent: $1,406
Raleigh, North Carolina
Population total: 465,517
Household median income: $78,631
Condo COOP average value: $304,550
Total cost of living monthly: $3,351
Overall average rent: $1,429
1 bedroom average rent: $1,259
2 bedroom average rent: $1,436
Long Beach, California
Population total: 462,293
Household median income: $78,995
Condo COOP average value: $504,533
Total cost of living monthly: $4,039
Overall average rent: $1,737
1 bedroom average rent: $1,552
2 bedroom average rent: $1,901
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Virginia Beach, Virginia
Population total: 457,900
Household median income: $87,544
Condo COOP average value: $330,191
Total cost of living monthly: $3,726
Overall average rent: $1,682
1 bedroom average rent: $1,394
2 bedroom average rent: $1,576
Miami, Florida
Population total: 443,665
Household median income: $54,858
Condo COOP average value: $406,393
Total cost of living monthly: $4,186
Overall average rent: $1,885
1 bedroom average rent: $1,575
2 bedroom average rent: $2,086
Oakland, California
Population total: 437,825
Household median income: $94,389
Condo COOP average value: $532,724
Total cost of living monthly: $4,324
Overall average rent: $2,021
1 bedroom average rent: $1,850
2 bedroom average rent: $2,220
Minneapolis
Population total: 426,877
Household median income: $76,332
Condo COOP average value: $259,054
Total cost of living monthly: $3,324
Overall average rent: $1,345
1 bedroom average rent: $1,214
2 bedroom average rent: $1,572
Methodology: For this study, GOBankingRates analyzed the average rental cost of major U.S. cities and the cost of living in those cities. First, GOBankingRates found the 100 most populated cities according to the U.S. Census American Community Survey. For each city, a number of factors were found including: total population, total households, population ages 65 and over, household median income — all sourced from the US Census American Community Survey, the cost of living indexes as sourced from Sperling’s BestPlaces, the average overall rental cost, one-bedroom rental cost, and two-bedroom rental cost — all sourced from ApartmentList, the average cost of a condo or coop as sourced from Zillow Home Value Index, and the livability index as sourced from AreaVibes. GOBankingRates used the cost of living indexes and using the national average expenditure costs for all residents as sourced from Bureau of Labor Statistics Consumer Expenditure Survey. Using the average condo/coop value, assuming a 10% down payment, and using the national average 30-year fixed mortgage rate, the average mortgage can be calculated. Using the overall rental cost and expenditure costs, the total cost of living for each city can be calculated. The cities were sorted to show the highest population places, first showcasing the average apartment costs in major U.S. Cities. All data was collected on and is up to date as of Sept. 13, 2024.
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This article originally appeared on GOBankingRates.com: Here’s What an Average Apartment Costs in 46 US Cities
