D.C. neighborhood ranks among most expensive in U.S.
wtopstaff November 5, 2014 3:22 am11/05/2014 03:22am
How expensive is it to rent an apartment in the District? Well, one D.C. neighborhood has made a list of the most expensive in the country.
WASHINGTON — How expensive is it to rent an apartment in the District? Well, one D.C. neighborhood has made a list of the most expensive in the country.
Marketwatch.com reports on a list compiled by Apartments.com of the 14 most expensive neighborhoods in the U.S. for renters. The Foggy Bottom/GWU/West End area came in at No. 12.
The most expensive neighborhood in the country is New York City’s Penn Plaza/Garment District. The less than one-square-mile neighborhood is home to showrooms, fashion labels, businesses and talent, according to the report. Rent for a one-bedroom apartment can cost an average of $4,440 per month.
The average monthly rent for a one-bedroom apartment in the Foggy Bottom/GWU/West End area costs an average of $2,662.
The survey takes into account not only the rent, but also the area’s median income and cost of living.
While it’s generally recommended that people not spend more than 25 or 30 percent of their monthly take-home pay on rent, a spokeswoman for Apartments.com says that people in these neighborhoods often pay a much greater percentage than that.
While the survey cites the attractions of the Foggy Bottom/GWU/West End area, including the Kennedy Center, the State Department and the Watergate complex, it notes that you pay for the privilege.
Here’s the full list and average cost of monthly rent for a one-bedroom apartment, according to the report.
New York City: Penn Plaza/Garment District ($4,440)
New York City: DUMBO ($4,023)
San Francisco: Yerba Buena ($3,643)
Boston: Government Center ($3,782)
Oakland/Emeryville, CA: Golden Gate ($2,695)
Palo Alto, CA: Crescent Park ($3,157)
Great Neck, NY (Nassau County): Great Neck Plaza ($3,223)