San Francisco Has America's Most Expensive Rents

Home prices in the Bay Area from San Jose to San Francisco are the highest in the country. It makes a degree of sense that rent prices would be as well. And they are. According to Apartment List, the monthly rent for a one-bedroom is averaged $3,500 in February. As the number of rooms rise, rent spikes. The price for the average two-bedroom rental is $4,800

The next tier of most expensive rents are concentrated in the New York City area. The monthly average rent for a one-bedroom is $4,470 in the city proper, $3,150 in Jersey City and $2,360 in Stamford, Conn.

Among the top 10, California has another two: San Jose at $2,650 and Los Angeles at $2,650, as well.

Cities with the fastest growing rents were mostly much smaller. Leading the list was Vancouver, Wash., up year over year, followed by Colorado Springs, Colo. Among the other fast growing:

Orlando, FL: Orlando had the third largest increase in rents nationwide with a 9.0% increase over last year. A 2-bedroom apartment in Vancouver now costs $1,100.

San Jose, CA: San Jose came in 7th place for highest rent increases over last year with 2-bedroom prices up 7.8% over the last year, which means rent prices are growing 2.4 times more quickly than national averages. A 2-bedroom in San Jose averages $2,650.

Austin, TX: Just behind San Jose, Austin, TX claims the number 8 spot for fastest growing rents at 7.7% over February 2015. A 2-bedroom in Austin runs $1,500.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.