Boston's Dominates Top 100 Priciest Rental ZIP Codes

An Overview of the Rental Market in the U.S.

Recent data analysis by RentHop, an online rental marketplace, reveals a startling trend in the U.S. rental market. The report shows that the top 100 most expensive ZIP codes for rentals are concentrated in just seven states. Leading the pack is New York, followed by California, Florida, and Massachusetts. Notably, Boston, Massachusetts, is home to five of the most expensive ZIP codes, reinforcing its reputation for steep rental prices.

Breaking Down the Numbers

According to the RentHop report, the median rent for a two-bedroom unit in metro Boston saw a modest increase of 6.7% in 2023, a significant drop from the 19% surge in 2022. Despite this slowdown, all of the priciest ZIP codes in Massachusetts are located in Boston. On the other hand, Connecticut, the only other New England state on the list, has three cities ranking in the top 100.

The Most Expensive ZIP Code in the U.S.

The title of the most expensive ZIP code in the U.S. goes to Fisher Island, Florida. Here, the average rent for a two-bedroom unit is a staggering $20,000, while a one-bedroom rental goes for $12,000. To compile these rankings, RentHop analyzed the median rent for one-bedroom and two-bedroom units in every ZIP code across the country. The results were then sorted by the price of two-bedroom units, from highest to lowest, with the rent for one-bedroom units used as a tie-breaker when necessary.

Methodology of the Analysis

The data used in this analysis was drawn from over 1.9 million active listings in RentHop's national rental database, covering the period from January 1 to November 15. The focus on two-bedroom units was due to their prevalence across all ZIP codes. In the event of a tie, the rent for a one-bedroom unit was used to break the deadlock.