As the struggle for affordable housing continues, a new analysis reveals that rent prices are surging in major Northeast cities, with Boston leading the pack.
A recent study from Smart Asset examined rental data from Zillow’s Zillow Observed Rent Index and uncovered that Boston has become the most expensive city for renting homes in the United States, with an average rent of a staggering $3,495 as of February 28, 2025.
This figure marks a 4.1% increase from the previous year’s average rent of $3,359 and a significant 24.4% jump from 2020’s average of $2,811.
New York City follows closely, with a February 2025 average rent of $3,489—just six dollars cheaper than Boston.
This increase reflects a 4.14% rise from $3,350 in 2024 and a 22.9% uptick from $2,839 in 2020.
The top five cities with the highest average rent prices also include three California locations: San Francisco, Irvine, and San Jose.
San Francisco comes in third with an average rent of $3,368, despite experiencing a 5.14% increase over the last year.
In fourth place, Irvine’s average rent stands at $3,306, having increased by 1.75% in just one year.
San Jose, fifth on the list, shows an average rent of $3,131, a 3.23% increase from the previous year.
Jersey City, New Jersey, ranks sixth with an average rent of $3,129, reflecting a substantial 4.62% increase.
Chula Vista, California, and San Diego, California, follow next, with rents of $3,126 and $3,025, respectively.
Miami, Florida, and Naples, Florida round out the top ten, with average rents of $3,019 and $2,912.
Interestingly, while Staten Island’s rent prices are lower than in New York City, the borough has also witnessed a notable increase in rental costs.
Data from the U.S. Census Bureau’s 2023 American Community Survey highlights that some Staten Island neighborhoods are feeling the rental pinch more than others.
The ZIP code 10312, comprising areas such as Annadale and Eltingville, recorded the highest median rent at $1,911.
Close behind, the 10309 ZIP code, covering Pleasant Plains and surrounding areas, reported a median rent of $1,907.
Surprisingly, the 10302 ZIP code, which includes Port Richmond and Elm Park, featured as having the third-highest median rent at $1,800.
This spike in rental prices aligns with a previous analysis, which noted a 38% increase in Staten Island’s median rent over the last decade.
Here’s a detailed look at median rent prices for various Staten Island ZIP codes:
In 10301, which includes St. George and Tompkinsville, the median rent price stands at $1,697.
In 10302, covering Port Richmond and Elm Park, renters pay a median of $1,800.
The 10303 ZIP code, found in Mariners Harbor, sees a median rent of $1,520.
The 10304 areas, including Clifton and Todt Hill, have a median rent price of $1,516.
For those residing in 10305—covering parts of Ocean Breeze and Rosebank—the median rent hits $1,656.
Residents in the 10306 area, which includes Egbertville and New Dorp, are paying a median rent of $1,743.
The 10307 ZIP code, encompassing Tottenville, has a median rent price of $1,618.
In 10308, covering Great Kills and Bay Terrace, the median rent is recorded at $1,729.
The 10309 area, as mentioned earlier, reflects a median rent of $1,907, which is on the higher end for the borough.
Residents in 10310, which includes West Brighton, report a median rent of $1,638.
Lastly, in the 10312 ZIP code, the highest median rent is at $1,911, covering neighborhoods like Annadale and Huguenot.
Additionally, the 10314 area, which includes parts of Bulls Head and Travis, shows a median rent price of $1,726.
While New York City has long been viewed as a challenging market for renters, these recent findings illustrate the competitive and escalating rental rates in cities like Boston and various neighborhoods within Staten Island, raising concerns over affordability and housing access.
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