10 Most Expensive Cities for Renters

It’s good news for landlords that mortgage applications fell to their lowest level in a year last month because people have to live somewhere and if they can’t or won’t buy, they’ll have to rent.

Here are the nation’s 10-most-expensive cities for renters and the average rents. The data is provided by Marcus & Millichap.

1. New York, N.Y.: $2,922
2. San Francisco: $1,904
3. Boston: $1,658
4. San Jose, Calif.: $1,612
5. Los Angeles: $1,452
6. San Diego: $1,304
7. Washington, D.C.: $1,302
8. Miami: $1,080
9. Philadelphia: $1,014
10. Chicago: $1,010

Source: Realtor magazine online