Who Paid The Highest Monthly Rents in 2014

rentAccording to Zillow, the online real estate database company founded by two former Microsoft executives, the numbers speak for themselves.  Data shows that U.S, renters spent a combined $441 billion on housing in 2014 with rents continuing to outpace incomes.

When looking at the 50 largest metros in the U.S. it is surprising to note that a comparison of average quantity renters paid per month ranked by city had San Jose, California leading the list with renters paying on average $1,807 per month.  The top 20 list of the most highly-priced metro areas for renters has four of the top five located in California with San Jose #1 ($1,807), San Francisco #2 (1,598) , San Diego #4 (1,362) and Los Angeles #5 ($1,308).  The only east coast city to break into the top five was Washington D.C. at number three at $1,428.

A complete list of the top 20:

RankMetroAvg. MonthlyRent PaymentRankMetroAvg. Monthly Rent Payment
1San Jose, CA$1,80711Denver, CO$1,066
2San Francisco, CA$1,59812Baltimore, MD$1,047
3Washington, DC$1,42813Sacramento, CA$1,029
4San Diego, CA$1,36214Austin, TX$1,008
5Los Angeles, CA$1,30815Chicago, IL$991
6New York, NY$1,22816Portland, OR$977
7Boston, MA$1,19717Virginia Beach, VA$949
8Seattle, WA$1,15418Philadelphia, PA$936
9Miami-Ft. Lauderdale, FL$1,12719Orlando, FL$931
10Riverside, CA$1,07520Minneapolis-St. Paul, MN$927