Oct. 2, 2023 By Ethan Marshall
Following the results of Zumper’s most recent national rent report showing the median cost of rent for one-bedroom units in New York City surpassing $4,000, they decided to review what that amount of monthly rent can get people in other cities across the United States. A total of 10 cities were examined in this study, including New York City.
The other cities included in this study were Milwaukee, WI, Scottsdale, AZ, Las Vegas, NV, Columbus, OH, Atlanta, GA, Miami, FL, Denver, CO, Austin, TX and Boise, ID. For each city, a listing was provided.
For New York City, a 500-square-foot studio apartment in the West Village was used. Its monthly rent amounted to $3,985. Amenities for the unit include a dishwasher, air conditioner and onsite laundry.
In sharp contrast to New York City, $3,900 can get someone a three-bedroom penthouse with panoramic view in Milwaukee. This property is nearly four times as much square feet as the New York City property.
A newly renovated three-bedroom home with an in-ground swimming pool can be had in Scottsdale for $3,700 a month. This property measures out to 1,896 square feet.
For $4,000 a month, a contemporary loft with artistic flare in Las Vegas can be had. The loft features three bedrooms, two bathrooms, a massive primary suite, a recently renovated upscale kitchen and an expansive backyard with a hot tub. This 3,381-square-foot property is also located within walking distance of the Las Vegas Strip, the Raiders stadium and the airport.
A two-story, 3,550-square-foot four-bedroom house can be had in Columbus for $3,500 a month. This property features vaulted ceilings, a large basement, an attached garage and spacious backyard with a large deck.
The property in Atlanta is a modern and sleek four bedroom home. Miami’s property is a high rise which also features a rooftop pool. The 2,027-square-foot home in Denver is located just blocks away from the Denver Zoo and the City Park Golf Course. Austin’s 2,147-square-foot home provides easy access to nearby parks, schools, dining, entertainment and cultural attractions in downtown Austin. The Boise property’s 9.5 acres include an entire ranch and indoor swimming pool.
This comparison by Zumper reflects the large demand for any kind of property in New York City, due in large part to the premium on available units. Additionally, Zumper’s report could end up swaying some people away from New York City and into one of the other properties mentioned.