The most expensive U.S. cities for renting a home

Residents of the United States continue to seek out the most affordable options near the country's coastal urban hubs, according to 2020 rental market data compiled by TurboTenant, the online property management tool. The site's research indicates that the average rent in the U.S. is $1,207 for a two-bedroom home. All but one of the locations highlighted in the slideshow above exceeds that price. Cities that made this list tend to be highly walkable. On the downside, renters in these popular burgs also tend to face relatively high rental security deposits and cost-of-living.

Insurance agent takeaway

Cities that are expensive for renters also are more expensive, on average, for homeowners. That means these higher-cost locations can be lucrative for insurance agents selling both personal lines and commercial policies. Financial experts generally advise prospective renters to spend roughly 30% of their income on housing. See also:

• 10 best renters insurance companies of 2019
• 3 renters' insurance myths & truths
• How to claim rental property theft or damage