Special Report

Towns With the Most Expensive Rent

Source: GaryKavanagh / iStock via Getty Images

10. Marina del Rey, California
> Median monthly rental cost: $3,066
> Share of income typically spent on rent: 30.1% — 2,137th highest of 5,275 towns (tied)
> Rental occupied housing units: 95.7% — 69th highest of 5,275 towns
> Median home value: $893,100 — 64th highest of 5,198 towns

9. Tenafly, New Jersey
> Median monthly rental cost: $3,073
> Share of income typically spent on rent: 26.3% — 1,443rd lowest of 5,275 towns (tied)
> Rental occupied housing units: 21.3% — 481st lowest of 5,275 towns
> Median home value: $848,600 — 77th highest of 5,198 towns

Source: PapaBear / iStock via Getty Images

8. West Point, New York
> Median monthly rental cost: $3,096
> Share of income typically spent on rent: 32.9% — 1,233rd highest of 5,275 towns (tied)
> Rental occupied housing units: 99.5% — 42nd highest of 5,275 towns
> Median home value: N/A

Source: stresstensor / Getty Images

7. Hanscom AFB, Massachusetts
> Median monthly rental cost: $3,135
> Share of income typically spent on rent: 32.8% — 1,261st highest of 5,275 towns (tied)
> Rental occupied housing units: 100.0% — the highest of 5,275 towns (tied)
> Median home value: N/A

Source: jeremyiswild / Getty Images

6. La Cañada Flintridge, California
> Median monthly rental cost: $3,186
> Share of income typically spent on rent: 32.9% — 1,233rd highest of 5,275 towns (tied)
> Rental occupied housing units: 11.9% — 46th lowest of 5,275 towns
> Median home value: $1,643,400 — 12th highest of 5,198 towns

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.