Long Island is well represented in a new list of the top 50 most expensive places to rent an apartment in the U.S.
Though California neighborhoods dominated the top of the list compiled by apartmentguide.com, there were six Long Island communities in the top 30.
Great Neck was ranked number 15 in the country with an average one-bedroom rent of $3,469 a month and Melville was listed at number 17 with an average monthly rent of $3,449, both beating out San Francisco, which had an average rent of $3,445.
Glen Cove was ranked 22nd with an average rent of $3,386, Huntington Station was ranked 27th with an average rent of $3,272, Rockville Centre was number 28 with an average rent of $3,244, and Garden City was 30th on the list with an average monthly rent of $3,220.
Culver City, Calif. topped the most-expensive list with an average monthly one-bedroom rent of $5,207, followed by Manhattan at $4,510, Ventura, Calif. at $4,341, Hollywood, Calif. at $4,167 and Playa Vista, Calif. rounding out the top five with an average monthly rent of $4,060.
The only other Long Island locale making the top 50 list was Smithtown at number 37, with an average one-bedroom rent of $3,124.
Overall, the price of rent in the top 50 most expensive cities for renters has increased, according to the report from apartmentguide.com. However, in some major cities, there was a slight decrease in rental rates over the past year, marking a shift of renters leaving overly expensive city centers. The exodus first began in 2020 during the pandemic, as millions of renters left cities seeking less expensive places to live, with many ended up in surrounding suburbs and towns.
Spurred by health concerns, unemployment and high cost, the ability to work from home was also a factor. The latest data shows that the trend is continuing, especially as the pandemic continues.
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August 25, 2021 at 11:23PM
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Seven LI locales make list of most expensive places to rent - Long Island Business News
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