The Most Expensive Rental Zip Codes in the U.S.
The housing market has been on a rollercoaster ride in 2022. Home prices have soared in cities like Miami and Hialeah, while overheated markets like Austin and Boise have cooled. On the rental front, median rents have soared in New York, Boston and other major cities as demand far outstrips supply.
In this report, the RentHop team mined over 1.8 million rental listings advertised in 2022 to determine the top 100 rental zip codes in the United States. Is your postal code one of them?
Main findings
- 33109 in Fisher Island, Florida was the most expensive rental zip code in the country. The median rent for two bedrooms was $24,000 in 2022.
- The top 100 postal codes are located in just eight states, including 41 in New York and 30 in California. Florida commands 18 of the zip codes.
- New York City remained the most expensive rental market in 2022, hosting 38 of the 100 best zippersincluding zip code 10282 in Battery Park City and 10007 in Tribeca.
- 14 of the most expensive postal codes are located in Los Angeles and its surrounding cities. The 90210 ZIP code in Beverly Hills was the third most expensive ZIP code by sale price and the 37th most expensive ZIP code by rental rate.
- 5 of the major zip codes are in the Boston areaincluding 02110 (Downtown Waterfront) and 02142 (Kendall Square, Cambridge).
10 most expensive rental zip codes in the United States
1. Fisher Island, Florida (33109)
The 33109 zip code, located in Fisher Island, Florida, was the most expensive rental zip code, with the median two-bedroom rent reaching $24,000 in 2022. The zip code is home to some of the most luxurious properties in the country. It was the fifth most expensive ZIP code based on sale prices.
2.Hampton Bays, New York (11946)
Hampton Bays has the second most expensive rental zip code in the country. In the 11946 zip code, renters are expected to pay $12,500 for a two-bedroom home.
3. Snowmass Village, Colorado (81615)
The 81615 zip code in Snowmass Village is one of the most expensive zip codes in Colorado and the third most expensive rental zip code in the United States. The median two-bedroom rent was $11,250 in 2022. One-bedroom homes were equally unaffordable, with a median rent of $8,000 per month.
4. Montecito, CA (93108)
Montecito is known for its wealth and fortified mansions with famous residents like Oprah Winfrey, Harry and Meghan and Ariana Grande. In 2022, ZIP code 93108 ranked as the fourth most expensive rental ZIP code, with a median two-bedroom rent of $10,950. The postcode ranked as the seventh most expensive postcode by median list price.
5. Palm Beach, Florida (33480)
The 33480 ZIP code in Palm Beach was the fifth most expensive ZIP code according to rental rates in 2022. The median two-bedroom rent reached $10,500 last year. One-bedroom homes, on the other hand, had a median monthly rent of $4,495.
6. Westhampton Beach, New York (11978)
The Hamptons have long been among the most expensive places to live in New York State. In 2022, ZIP Code 11978 ranked as the sixth most expensive ZIP Code by rental price across the country, with a median two-bedroom rent of $10,250 and a median one-bedroom rent of of $8,375.
7. Margate City, New Jersey (08402)
The 08402 postcode in Margate City ranked as the seventh most expensive postcode. The median two-bedroom rent reached $10,000 in 2022.
8. New York – Battery Park City, NY (10282)
Rental prices in New York skyrocketed in 2022. The 10282 zip code in Battery Park City has become one of the most unaffordable zip codes in the country. The median two-bedroom rent in the area was $8,550 last year. Meanwhile, renters paid $5,000 for an average one-bedroom apartment.
9. Pelican Bay, Florida (34108)
Pelican Bay is home to the ninth most expensive rental zip code in the country. Last year, the median two-bedroom rent reached $8,500 in the 34108 ZIP code. Meanwhile, one-bedroom homes were asking for a median of $4,850.
10. New York – Tribeca, NY (10007)
Tribeca has long been one of New York’s most desirable neighborhoods. Zip code 10007, filled with luxury skyscrapers, is the 10th most expensive zip code in the country. An average two-bedroom rental apartment cost $8,400 in 2022.
The most expensive rental zippers are located in only 8 states
The top 100 rental ZIP codes are located in just 8 states, including 41 in New York and 30 in California. Florida leads other states with 18 of the most expensive rental zippers. Five of the zip codes are in Massachusetts, four in Boston and one in Cambridge.
NYC is the most expensive city to rent
As New Yorkers old and new returned to the city, rents hit all-time highs in New York City in 2022, a marked difference from just a year ago. The city is home to 38 of the top 100 zip codes, including 11 in the top 20. The most expensive NYC zip code is 10282 in Battery Park City.
Manhattan remained the most expensive borough, claiming 31 of New York’s 38 zip codes. These zip codes are found in prime neighborhoods such as West Village (10014), Chelsea (10001), Tribeca and SoHo (10013). Median two-bedroom rents were all well over $4,000 in those zip codes.
Brooklyn, meanwhile, had become more unaffordable. Five of NYC’s major zip codes are located in Brooklyn. The 11201 ZIP code in Dumbo was Brooklyn’s most expensive ZIP code last year, with a median two-bedroom rent of $6,105 and a median one-bedroom rent of $4,095.
LA is second, with 14 of the most expensive zippers
Los Angeles and its neighboring cities (Beverly Hills, Marina del Rey, Santa Monica) command 14 of the most expensive rental ZIP codes in 2022, including 90402 (North of Montana, Pacific Palisades), 90077 (Bel Air) and 90210 (Beverly Hills). All 14 zip codes had a median two-bedroom rent above $4,000 per month.
The Boston area also commands high rental prices
Boston-area renters have felt the pain of rising rents in particular in 2022. During prime rental season, the median two-bedroom rent rose 19.5% year-over-year .
Of the top 100 zips, four of them are located in Boston, including 02110 in Downtown Waterfront, 02210 in Seaport, 02116 in Back Bay, and 02111 in Chinatown. All four zip codes had a median two-bedroom rent above $5,000 in 2022.
02142 is the only top 100 zip in Kendall Square, Cambridge. Kendall Square is known for its tech clusters and proximity to MIT, and high-paying jobs have contributed to the rising cost of living. The median rent for two bedrooms reached $4,390 in 2022.
Methodology
This RentHop report features the most expensive ZIP codes in the United States to rent a home. The data was collected from RentHop’s National Rental Database, which included over 1.8 million active rental listings during the period between January 1, 2022 and December 31, 2022.
To produce the ranking, the median rent for a two-bedroom and one-bedroom unit was found for each postcode in the country. The results were then sorted by two-bedroom price from most expensive to least expensive, as this type of unit was the most common in all ZIP codes. In the event of a tie, the rent for a room in a ZIP code was used as the tie.
For the purposes of this report, only rental listings have been included. All listings categorized as commercial sales or rentals were excluded from the analysis. All listings with invalid zip codes, including zip codes for a single building in New York, were also excluded.
For more information on our methodology or to contact our data team, please email [email protected].
