Here’s the latest on the country’s most expensive ZIP codes for apartment renters according to ApartmentGuide.Com. ApartmentGuide.com looks at multi-family buildings with 50 units or more to scope out where the priciest neighborhoods are. Brian Carberry, Managing Director of ApartmentGuide found few surprises. ”I think on this latest list, the surprise to me were there really weren’t many surprises. The top ten included California and the Northeast which have the highest average rent per ZIP code,” explains Carberry.
Drum roll for the most expensive ZIP code in the Los Angeles area which is number 10 on ApartmentGuide’s list. No, it’s not even in Beverly Hills. Head south and west to Marina Del Rey in the 90292 zone. Years ago, Marina Del Rey was known as the swinging singles address for recently divorced men and women ready to party at the numerous discos. Rents were always high in the Marina but not like today.
There’s good news here though. Even at the current price of $3,170 per month for a one-bedroom that’s down over 15% from a year ago when that number was $3,745. Over the last several years, there’s been a number of large luxury “apartment homes” as developers call them being built in the Marina. So, signs of a possible glut on the market? It certainly appears so.
Let’s look at the Marina and see what you get for your money. At AMLI Marina Del Rey which boasts beautiful water views and a prime marina front location currently there are five one-bedroom apartments available starting at $4575 per month. This is new construction hence the high price points. The Marina does have a fair amount of buildings, circa the seventies where lower rents may be found.
Here are the complete rankings from ten to the number one spot. Marina Del Rey (90292) , Bellevue, Washington (98004) and Los Angeles, (90014) which is the heart of Los Angeles’ most in-demand area for young professionals.
Get ready for number seven which is (07310), Jersey City, New Jersey. A waterfront location with great city views combined with a quick train ride into Manhattan has made Jersey City (headquarters of Forbes) a hot spot. Brooklyn (11201) not surprisingly hits number six. Miami’s 33131 ZIP which encompasses the popular Brickell neighborhood is hot at number five. San Jose, California (95134) is in the heart of Silicon Valley where those high paid techies can afford a monthly rent of $3,953.83 for that one-bedroom.
Playa Vista, California (90094) right down the road from Marina Del Rey heading to LAX, is a booming tech hub—hence the name, Silicon Beach is in the number three spot. Where $4,189.50 will get you that one-bedroom.
A surprise, even to Carberry, “I think a major luxury building with $20,000 one-bedroom penthouses have skewed the ranking of Philadelphia.” That 19130 ZIP came in second. At number one is Boston’s Back Bay (02215) where you have the best of the city at your doorstep. The price there is up 11 percent from last year to $5,034 according to Apartment Guide’s latest number crunching.
These take-aways for renters looking in these ZIP codes should be considered according to Carberry. “Even in these areas look around and do your homework. Don’t just rent something because you have to be in that neighborhood. Sometimes you have to sacrifice building amenities, apartment upgrades to apartment size to be in a particular area. Usually, it’s a trade-off between location and amenities.”
Look for the next update soon to see if your must-have address makes the latest list.