Renters Pay a Pretty Penny in These ZIP Codes

The latest ranking of the most expensive ZIP codes for renters finds that all 50 are located in California, New York, and Massachusetts.

Based on data from Yardi Matrix, RENTCafe's ranking put Manhattan's Battery Park City at number one as the most expensive ZIP code, with an average rent of $5,657 per month, and the second-priciest is also in Manhattan, including TriBeCa and SoHo neighborhoods with $5,226 average rent. An additional 25 out of the top 50 most expensive ZIPs are in Manhattan, CNBC reports.

Big cities offer big salaries — though at a cost. The rental market in those cities can be punishing, especially in the summer, when prices peak. In July, the national average hit an all-time record high of $1,409, according to the apartment search website RENTCafe. But in some of America's priciest neighborhoods, $1,400 would be a bargain.

Read more