Renters shouldn’t get too comfy and quietly smile to themselves as the housing market softens. Rents are up and climbing as more potential buyers continue to rent, and Southern California finds itself with two of the most expensive rental markets in the country. Orange County ranks fifth, with an average rent of $1,458. Los Angeles ranks eighth, with an average rent of $1,360. These prices are, of course, a bargain compared to New York, where average rent is $2,553. This math seems funny to us, but we’re so happy to not be renting in New York right now.
· The Most Expensive Rental Markets [CNN Money]
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