Renting: What $3,000-a-Month Gets You in Big U.S. Cities

Hyde Park apartment kitchen

By Catherine Sherman

Home value appreciation is expected to slow down some this year, but in major metropolitan areas like Manhattan, real estate prices are heating up. City dwellers may find it's more in their favor to rent, but rents also continue to be high in several parts of the country. Here's a look at what you can rent in top metros for $3,000 a month -- more than double the current national median rent of $1,302.

Manhattan Financial District

20 West Street, New York
For rent: $2,800/mo
Square feet: 405

New York 1
A studio apartment on the 36th floor of the famous Downtown Club affords a view of the water and Statue of Liberty. But, this prime location comes with a steep price: the median rent is in the Financial District is $3,706 compared to $2,266 for the New York metro.

New York 2

San Francisco Mission District

1600 15th St, San Francisco
For rent: $2,930/mo
Square feet: 652

San Francisco 1
Walking distance to the vibrant Mission District, the Vara apartments have several shared amenities including a gym, BBQ area, bike storage and clubhouse. A 1-bedroom unit is currently asking just under $3,000 a month. This is less than the median Mission rent of $3,780.

San Francisco 2

Chicago Hyde Park neighborhood

5111 S. Kimbark Ave, Chicago
For rent: $2,953/mo
Square feet: 1,797

Chicago 1
Located 7 miles from the Loop on the South Side of Chicago, Hyde Park is near several prestigious institutions including the University of Chicago. It's also where President Barack Obama has a home. Chicago home values and rents are considerably less than San Francisco and New York. For $2,935 a month, you can rent this 4-bedroom, 2.5-bath apartment on the ground floor.

Chicago 2

Houston Montrose neighborhood

3618 Yupon St, Houston
For rent: $2,995/mo
Square feet: 1,838

Houston 1
This 3-bedroom, 2.5-bath town home is in the trendy Neartown-Montrose neighborhood and rents for nearly $3,000/month - much higher than Houston's current median rent of $1,284. The first floor has a large bedroom and bath, the second floor is the main living area with a spacious kitchen, and the third floor houses a spacious master suite and additional bedroom.

Houston 2

More about renting a home:
Micro-Apartments: Living in Less Than 300 Square Feet
1,000 Square Feet for $1 Million?
Renting? Get the Biggest Bang for Your Buck in These Cities

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