Anyone who lives in New York — and plenty of people who don't — will tell you it is expensive and it is cramped.
And an ongoing shortage of apartments and steady demand to rent them has led to record-high rental prices. The median rent for a 1-bedroom apartment in NYC eclipsed $4,000 in September according to rental platform Zumper. In Manhattan alone, rent hit an average $5,552 in September, according to brokerage firm Douglas Elliman.
Even if you do find a place that is marginally more affordable than that, you're still paying a lot for little space. For example, you could live in Greenwich Village, on the street Taylor Swift made famous for $3,985 a month, according to a Zumper listing. But it's a 500 square foot studio apartment.
Zumper compiled a list of homes for rent for $4,000 a month or less in 10 cities throughout the U.S. Here's how far your money can go.
New York, New York: a studio apartment
- Size: Studio; 500 square feet
- Monthly rent: $3,985
- Price per square foot: $7.97
Milwaukee, Wisconsin: a penthouse apartment
- Size: 3-bedroom; 2,000 square feet
- Monthly rent: $3,900
- Price per square foot: $1.95
Scottsdale, Arizona: a house with a pool
- Size: 3-bedroom; 1,896 square feet
- Monthly rent: $3,700
- Price per square foot: $1.95
Las Vegas: an artist's loft
- Size: 3-bedroom; 3,381 square feet
- Monthly rent: $4,000
- Price per square foot: $1.18
Columbus, Ohio: a 2-story house
- Size: 4-bedroom; 3,550 square feet
- Monthly rent: $3,500
- Price per square foot: $0.99
Atlanta, Georgia: a modern home
- Size: 4-bedroom; 2,600 square feet
- Monthly rent: $4,000
- Price per square foot: $1.54
Miami, Florida: a luxury condo
- Size: 2-bedroom; 1,123
- Monthly rent: $4,000
- Price per square foot: $3.56
Denver, Colorado: a house with a fenced-in backyard
- Size: 4-bedroom; 2,027 square feet
- Monthly rent: $3,700
- Price per square foot: $1.83
Austin, Texas: a conveniently-located home
- Size: 2-bedroom; 2,147 square feet
- Monthly rent: $4,000
- Price per square foot: $1.86
Boise, Idaho: an entire ranch
- Size: 3-bedroom; 2,254 square feet
- Monthly rent: $4,000
- Price per square foot: $1.77
Of course, your budget and real estate options aren't the only reasons you choose to live in a certain city. You might follow a job or a loved one, or you may just want to live somewhere that makes you happy and offers a good environment for your hobbies and interests.
Regardless, it can be fun to explore the different kinds of homes that are available at the same price point. You never know where you could wind up in the future.
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