How much it costs to rent an apartment in the 11 most expensive US cities
Housing eats up a lot of our paycheck, but just how much?
We turned to the Economic Policy Institute to find out, which recently released a 2015 Family Budget Calculator measuring the annual cost of necessities to live a secure yet modest lifestyle.
The calculator estimates the costs of housing, food, child care, transportation, healthcare, other necessities, and taxes.
In this case, we looked specifically at the how much the EPI estimates a family of four and single people are paying for monthly rent in the most expensive metropolitan areas in the US.
Housing costs are based on the Department of Housing and Urban Development's (HUD) fair market rents, and include shelter and all tenant-paid utilities (excluding telephone service, cable, and internet). Studio apartments were used for one-person households, and two-bedroom apartments were used for families with two children.
(Read the full methodology for the budget calculator on the EPI website.)
Of course, if you're looking to buy in a major metro, that may cost you more. As for renting, here's how much you can expect to pay per month in the 11 most expensive metro areas in the US:
11. Santa Rosa
Monthly cost of housing:
4-person family: $1,251
Single person: $820
10. San Diego-Carlsbad
Monthly cost of housing:
4-person family: $1,354
Single person: $939
9. Los Angeles-Long Beach-Anaheim
Monthly cost of housing:
4-person family: $1,398
Single person: $896
8. Napa
Monthly cost of housing:
4-person family: $1,414
Single person: $843
7. Washington-Arlington-Alexandria
Monthly cost of housing:
4-person family: $1,469
Single person: $1,176
6. San Francisco-Oakland-Hayward
Monthly cost of housing:
4-person family: $1,956
Single person: $1,191
5. Santa Cruz-Watsonville
Monthly cost of housing:
4-person family: $1,597
Single person: $976
4. Bridgeport-Stamford-Norwalk
Monthly cost of housing:
4-person family: $1,161
Single person: $727
3. San Jose-Sunnyvale-Santa Clara
Monthly cost of housing:
4-person family: $1,649
Single person: $1,105
2. New York-Newark-Jersey City
Monthly cost of housing:
4-person family: $1,440
Single person: $1,163
1. Urban Honolulu
Monthly cost of housing:
4-person family: $1,820
Single person: $1,267
See Also:
SEE ALSO: Here's how much it costs for a family to live in 20 major US cities
