This Place Has The Highest Rent Prices In New York State (And It’s Not NYC)
Let's be honest, rent is pretty high everywhere in New York. But this one particular place tops the list in New York State, and nope, it's not New York City. 24/7 Wall St. analyzed the rent prices in every state to come up with the list of places with the highest rents.
To find the town with the highest rent in every state, 24/7 Wall St. reviewed five-year estimates of median gross rent among places with at least 1,000 people and fewer than 25,000 people from the U.S. Census Bureau’s 2020 American Community Survey.
The data that the website looked at is from 2020, which is the most up-to-date data provided by the Census.
Which City In New York Has THe Highest Rent?
It's hard to believe the city in New York with the highest rent isn't NYC. I lived there 20 years ago and my rent for a one bedroom (that I shared) was a few thousand dollars a month. The place with the most expensive rent prices is actually not even a city.
Scarsdale is a town and village in Westchester County, New York, United States.
For comparison, according to 24/7 Wall St.,
The national 2020 median rent was $1,096. In 48 of the 50 states, there is at least one town with a higher 2020 median gross rent.
The estimated population of Scarsdale as of July 1, 2021, is 17,939, according to the U.S. Census. Here are the numbers for Scarsdale compared to New York State.
> Median monthly rental cost: $3,500+ (New York: $1,315)
> Share of income typically spent on rent: 25.7% (New York: 30.8%)
> Rental occupied housing units: 13.4% (New York: 45.9%)
> Median home value: $1,473,200 (New York: $325,000)
> No. of towns considered in ranking: 287
Make no mistake, while the rent is high in Scarsdale, so are the incomes. According to the Census, the median household income in Scarsdale is $250,000 or more. Only 1.8% of the population of the village is living in poverty in Scarsdale.