Skip to main content

The Most Expensive ZIP Code for Renters Is …

Phil Hall
Sep 26, 2019
Photo credit: Getty Images/AlbertPego

Seven of the 10 most expensive ZIP Codes for renters are in Manhattan and the other three are in California, according to new data released by RENTCafé.
 
Manhattan’s Battery Park City, with the Zip Code 10282, topped the list with a monthly average rent of $6,211, up 12.1 percent from one year earlier. RENTCafé researcher Sanziana Bona observed that the “riverside neighborhood is seeing a tremendous increase in demand after getting a slew of high-end restaurants and big-name luxury retailers in the past few years.”
 
Manhattan’s 10013 (Tribeca) and 10023 (SoHo) ranked second and third with average rents of $5,327 and $5,053, respectively. California occupied the fourth, fifth and sixth rankings with Los Angeles’ 90024 ($4,994) and 90048 ($4,896) and San Francisco’s 94105 ($4,858). Manhattan ZIP Codes took up the remainder of the top 10 and nine additional spots in the top 20 rankings.
 
Separately, the newest HotPads Rent Report found the nation’s median rent is $1,560 a month, up 3.2 percent from a year ago, with rent prices now appreciating at about the same annual rate since March 2019.
 
"The rental market is being pulled in several directions right now," said Joshua Clark, economist at HotPads. "Some of the hottest markets have hit their turning point after a year or more of increases, while other areas are steadily on the rise, causing appreciation to stall on a national level. However, this push-and-pull effect is likely temporary. Demand in the rental market typically slows in cooler months, while low mortgage rates may encourage more renters to buy–together, these factors could lead to a slower rental market throughout the remainder of 2019."

 
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021