In today’s challenging housing market, understanding the true cost of renting involves more than just looking at monthly rent checks. A new analysis from Storage Sense, featured by Nasdaq, explores the cost of rent by square footage—offering a clearer picture of how much space your money really buys in major U.S. cities.
From high-rise apartments in dense urban cores to more spacious units in tech hubs, the study breaks down where renters are paying the most per 100 square feet—and what kind of space and availability they can expect in return.
Let’s take a closer look at the top 10 U.S. cities with the highest rent per square foot in 2025:
1. Washington, D.C.
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Rent per 100 sq. ft.: $229.29
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Median Rent (1-bed): $2,137
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Avg. Home Size: 932 sq. ft.
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Rental Availability: 1,352 units per 100,000 residents
The nation’s capital takes the lead with the highest cost per square foot. Despite a relatively smaller average home size, Washington D.C. commands premium prices—likely due to its booming job market, strong government presence, and limited space in desirable neighborhoods. However, it also has one of the highest rental availabilities, offering more options for those seeking homes.
2. San Francisco, CA
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Rent per 100 sq. ft.: $225.94
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Median Rent (1-bed): $2,761
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Avg. Home Size: 1,222 sq. ft.
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Rental Availability: 508 units
San Francisco remains among the most expensive cities for renters. Even as some tech workers move to more affordable areas, demand remains strong and inventory low. The combination of compact units and high rental rates pushes the cost per square foot near the top of the list.
3. New York City, NY
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Rent per 100 sq. ft.: $190.47
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Median Rent (1-bed): $2,219
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Avg. Home Size: 1,165 sq. ft.
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Rental Availability: 196 units
It’s no surprise that the Big Apple ranks high. New York City is known for small living spaces and some of the lowest rental availability, making it a highly competitive market. Residents pay a premium not just for the space—but for the lifestyle and access that comes with it.
4. Boston, MA
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Rent per 100 sq. ft.: $176.66
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Median Rent (1-bed): $2,210
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Avg. Home Size: 1,251 sq. ft.
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Rental Availability: 2,154 units
Boston stands out for having the highest rental availability on this list, making it slightly less cutthroat for renters. Still, the city’s rich history, educational institutions, and healthcare industries keep demand and rent prices elevated.
5. San Jose, CA
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Rent per 100 sq. ft.: $152.34
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Median Rent (1-bed): $2,410
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Avg. Home Size: 1,582 sq. ft.
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Rental Availability: 297 units
As the heart of Silicon Valley, San Jose offers more spacious living compared to neighboring cities—but renters pay a steep price for it. With limited rental availability, demand remains high, especially among tech workers and families seeking more square footage.
6. San Diego, CA
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Rent per 100 sq. ft.: $132.92
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Median Rent (1-bed): $1,950
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Avg. Home Size: 1,467 sq. ft.
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Rental Availability: 638 units
Known for its laid-back beach lifestyle, San Diego provides a decent balance of space and affordability—at least compared to other California metros. Renters get more square footage for their money here, making it an attractive alternative to LA or SF.
7. Seattle, WA
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Rent per 100 sq. ft.: $128.42
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Median Rent (1-bed): $1,875
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Avg. Home Size: 1,460 sq. ft.
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Rental Availability: 1,546 units
Seattle offers relatively large rental units and a high number of listings. Tech growth, especially from Amazon and Microsoft, has boosted the market, but rent per square foot remains below the California giants—making it a better value for space-seekers.
8. Los Angeles, CA
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Rent per 100 sq. ft.: $119.37
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Median Rent (1-bed): $1,843
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Avg. Home Size: 1,544 sq. ft.
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Rental Availability: 635 units
Despite LA’s reputation for high living costs, it surprisingly ranks lower on this list in terms of cost per square foot. Renters here benefit from larger-than-average units, though availability is still tight in popular neighborhoods like West Hollywood and Downtown.
9. Chicago, IL
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Rent per 100 sq. ft.: $109.64
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Median Rent (1-bed): $1,535
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Avg. Home Size: 1,400 sq. ft.
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Rental Availability: 519 units
Chicago offers a compelling mix of affordability and space. Although the winters may be harsh, the lower rent per square foot provides excellent value in a major city with strong job markets and cultural attractions.
10. Philadelphia, PA
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Rent per 100 sq. ft.: $95.30
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Median Rent (1-bed): $1,256
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Avg. Home Size: 1,318 sq. ft.
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Rental Availability: 939 units
Philadelphia ranks as the most affordable city per square foot on this list, making it a great choice for renters who value space and budget. With solid availability and lower rent, it’s gaining traction among young professionals and remote workers.
Final Thoughts: Space Still Comes at a Premium
As renters evaluate where to live in 2025, it’s clear that cost per square foot offers a smarter metric for comparing markets. Some cities, like Washington D.C. and San Francisco, command high prices for minimal space, while others like Philadelphia and Chicago offer more bang for your buck.
If you’re considering a move—or advising clients on rental decisions—don’t just look at total rent. Ask: How much space am I really getting for the price?
Source:
10 Cities with the Highest Rent Per Square Foot – Nasdaq