SANTA MONICA—A new report from Apartment Guide has indicated that the highest place to rent in the U.S. for 2016 was Santa Monica, California.
Santa Monica topped the list of 50 of the most expensive rent prices averaging $4,999.20 per month. New York was second at $4,562.72. Venice was fifth on the list with a rental average of $3,992.67. San Francisco landed in sixth place with $3,880.44 per month.
The data was compiled from Apartmentguide.com and Rent.com active listings for the month of November 2016 from one-bedroom units in each city.
Another report released by apartmentlist.com in 2016 established Santa Monica as one of the most rapidly increasing rental markets in California, along with Anaheim and San Jose.
The most rental rates are located in southeast and northeast Los Angeles. Neighborhoods like Glassell Park still accommodate one-bedroom units for under $1000 per month.
The data shows that Westside locations are becoming some of the priciest rentals in the nation. Playa Vista ranked 17th on the list and Marina Del Rey ranked 18th on the list with rentals rates at $3,327 and $3,320 per month.