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Here’s How Much A Luxury Apartment Costs In America’s Priciest Rental Markets

Courtesy of ZeroHedge. View original post here.

From Brooklyn to San Francisco, developers have been on a high-end housing binge in recent years, with apartments considered "high end" sometimes accounting for more than 75% of all construction.

But how much does it cost to live in a building with amenities that sometimes include a pool, 24-hour fitness and wellness centers, on-site theaters, rooms and cafes?

Cities

A recent study by RentCafe found that the national average rent in a luxury complex is around $1,640 per month, or about $490 more than an apartment in a less-fancy building.

But of course, that price can vary wildly from city to city, even when they're in the same state.

Chart

For the same price as a luxury studio in San Francisco, you can rent a luxury 3-bedroom apartment in San Diego. In 12 cities you can rent a luxury studio for under $1,200 per month, and in 11 cities $1,500 gets you a high-end two-bedroom.

But in Manhattan, the most expensive market, a studio will run you $4,500.

Here's a breakdown of the cities from least expensive to most expensive, courtesy of RentCafe.

* * *

El Paso, Texas

Average rent in a high-end apartment: $976

Price range: $852 (1-bed) to $1,194 (3-bed)

Change in high-end rents in the last 3 years: -1.3%

Price difference compared to a low-end apartment: $291

2. Oklahoma City, OK

Average rent in a high-end apartment: $1,024

Price range: $872 (studio) to $1,295 (3-bed)

Change in high-end rents in the last 3 years: -0.9%

Price difference compared to a low-end apartment: $368

3. Las Vegas, NV

Average rent in a high-end apartment: $1,102

Price range: $838 (studio) to $1,322 (3-bed)

Change in high-end rents in the last 3 years: +18.4%

Price difference compared to a low-end apartment: $284

4. Louisville, KY

Average rent in a high-end apartment: $1,123

Price range: $832 (studio) to $1,500 (3-bed)

Change in high-end rents in the last 3 years: +4.9%

Price difference compared to a low-end apartment: $3125.

5. Memphis, TN

Average rent in a high-end apartment: $1,134

Price range: $988 (studio) to $1,476 (3-bed)

Change in high-end rents in the last 3 years: +8.8%

Price difference compared to a low-end apartment: $486

6. Phoenix, AZ

Average rent in a high-end apartment: $1,154

Price range: $999 (studio) to $1,378 (3-bed)

Change in high-end rents in the last 3 years: +16.3%

Price difference compared to a low-end apartment: $351

7. Jacksonville, FL

Average rent in a high-end apartment: $1,173

Price range: $1,010 (studio) to $1,434 (3-bed)

Change in high-end rents in the last 3 years: +12.9%

Price difference compared to a low-end apartment: $347

8. San Antonio, TX

Average rent in a high-end apartment: $1,176

Price range: $1,029 (studio) to $1,537 (3-bed)

Change in high-end rents in the last 3 years: +5.4%

Price difference compared to a low-end apartment: $351

9. Indianapolis, IN

Average rent in a high-end apartment: $1,191

Price range: $1,137 (studio) to $1,394 (3-bed)

Change in high-end rents in the last 3 years: +11.3%

Price difference compared to a low-end apartment: $453 10.

10. Charlotte, NC

Average rent in a high-end apartment: $1,247

Price range: $1,157 (studio) to $1,455 (3-bed)

Change in high-end rents in the last 3 years: +11.0%

Price difference compared to a low-end apartment: $347

11. Columbus, OH

Average rent in a high-end apartment: $1,319

Price range: $992 (studio) to $2,047 (3-bed)

Change in high-end rents in the last 3 years: +10.0%

Price difference compared to a low-end apartment: $528

12. Dallas, TX

Average rent in a high-end apartment: $1,428

Price range: $1,165 (studio) to $2,049 (3-bed)

Change in high-end rents in the last 3 years: +7.4%

Price difference compared to a low-end apartment: $524 13.

Austin, TX

Average rent in a high-end apartment: $1,432

Price range: $1,247 (studio) to $1,891 (3-bed)

Change in high-end rents in the last 3 years: +6.7%

Price difference compared to a low-end apartment: $371

14. Houston, TX

Average rent in a high-end apartment: $1,448

Price range: $1,229 (studio) to $1,848 (3-bed)

Change in high-end rents in the last 3 years: +1.8%

Price difference compared to a low-end apartment: $608

15. Nashville, TN

Average rent in a high-end apartment: $1,513

Price range: $1,410 (studio) to $1,745 (3-bed)

Change in high-end rents in the last 3 years: +14.1%

Price difference compared to a low-end apartment: $502 16.

16. Detroit, MI

Average rent in a high-end apartment: $1,652

Price range: $1,061 (studio) to $1,878 (3-bed)

Change in high-end rents in the last 3 years: +21.7%

Price difference compared to a low-end apartment: $769

17. Portland, OR

Average rent in a high-end apartment: $1,691

Price range: $1,378 (studio) to $1,950 (3-bed)

Change in high-end rents in the last 3 years: +9.0%

Price difference compared to a low-end apartment: $484

18. Baltimore, MD

Average rent in a high-end apartment: $1,742

Price range: $1,384 (studio) to $2,123 (3-bed)

Change in high-end rents in the last 3 years: +0.4%

Price difference compared to a low-end apartment: $680

19. Denver, CO

Average rent in a high-end apartment: $1,756

Price range: $1,399 (studio) to $2,439 (3-bed)

Change in high-end rents in the last 3 years: +8.4% Price difference compared to a low-end apartment: $499

20. Philadelphia, PA

Average rent in a high-end apartment: $2,197

Price range: $1,623 (studio) to $3,677 (3-bed)

Change in high-end rents in the last 3 years: +8.2%

Price difference compared to a low-end apartment: $925

21. Seattle, WA

Average rent in a high-end apartment: $2,261

Price range: $1,723 (studio) to $3,595 (3-bed)

Change in high-end rents in the last 3 years: +13.2%

Price difference compared to a low-end apartment: $644

22. San Diego, CA

Average rent in a high-end apartment: $2,376

Price range: $1,847 (studio) to $3,105 (3-bed)

Change in high-end rents in the last 3 years: +14.8%

Price difference compared to a low-end apartment: $704

23. Chicago, IL

Average rent in a high-end apartment: $2,465

Price range: $1,747 (studio) to $4,905 (3-bed)

Change in high-end rents in the last 3 years: +4.8%

Price difference compared to a low-end apartment: $1,078

24. Washington, DC

Average rent in a high-end apartment: $2,591

Price range: $1,952 (studio) to $4,670 (3-bed)

Change in high-end rents in the last 3 years: +1.8%

Price difference compared to a low-end apartment: $841

25. San Jose, CA

Average rent in a high-end apartment: $2,849 Price range: $2,262 (studio) to $3,716 (3-bed)

Change in high-end rents in the last 3 years: +8.7%

Price difference compared to a low-end apartment: $637

26. Los Angeles, CA

Average rent in a high-end apartment: $3,028

Price range: $2,181 (studio) to $5,201 (3-bed)

Change in high-end rents in the last 3 years: +9.7%

Price difference compared to a low-end apartment: $1,093

27. Brooklyn, NYC

Average rent in a high-end apartment: $3,285

Price range: $2,630 (studio) to $5,728 (3-bed)

Change in high-end rents in the last 3 years: N/A

Price difference compared to a low-end apartment: $1,352

28. Boston, MA

Average rent in a high-end apartment: $3,526

Price range: $2,579 (studio) to $5,630 (3-bed)

Change in high-end rents in the last 3 years: +5.3%

Price difference compared to a low-end apartment: $1,048

29. San Francisco, CA

Average rent in a high-end apartment: $4,132

Price range: $3,157 (studio) to $6,812 (3-bed)

Change in high-end rents in the last 3 years: +4.2%

Price difference compared to a low-end apartment: $1,125

30. Manhattan, NYC

Average rent in a high-end apartment: $4,416

Price range: $3,179 (studio) to $8,163 (3-bed)

Change in high-end rents in the last 3 years: N/A

Price difference compared to a low-end apartment: $1,035


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