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2023’s Top Cities for Highest Rent per m2: Revealed

by | Dec 9, 2023

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  • New York City has the highest rent per m2 at $50.35.
  • Boston and Los Angeles have the largest average size for 1-bedroom apartments at 67.08 m2, but prices for m2 vary at $39.55 and $35.58 respectively. 
  • Lisbon is the cheapest city for rent per mat $20.97

New York tops the ranking as the city with the highest rent per m2 with $50.35.

Deluxe Holiday Homes experts’ 2023 study compared the rent prices in top global destinations to determine the cities with the highest rent per m2. Focusing on long term rentals, the study evaluated the rent price per m2 by determining average 1 bedroom apartment size and average rent. Cities were then ranked based on the price of rent per m2.

New York tops the ranking as the city with the highest rent per m2 with $50.35. While the average one bedroom apartment size in the US is around 70 m2, New York offers slightly less space at 66.05 m2. Yet, the monthly rent of $3,3K is the highest among all the cities on the list.

San Francisco ranks 2nd as the city with the highest rent per m2 averaging at $46.27. The monthly rent of a one bedroom apartment averaging at $2,9K is also the 2nd highest on the list, surpassed only by New York.

London, the first European city on the list, claims the 3rd position with $43.81 per m2. Although apartments here at 50.4 m2 are significantly smaller than the previous two on the list, the average price for m2 is still high enough to affect the ranking.

Boston is ranked 4th on the list of cities with the highest rent per m2  at $39.55. Boston, along with Los Angeles, has the largest average one bedroom apartment size of 67.08 m2 among all cities ranked. 

Washington, Miami, Los Angeles and Paris rank 5th on the list of the cities with the highest rent per m2 with an average $36.13 per m2. Los Angeles has the largest one-bedroom apartments, whereas Paris has the smallest, despite the price per square meter being the same. 

Full list of findings summed up

City1 bedroom apartment sizeAverage pricePrice per m2
New York City66.0541m2$3,325.78$50.35
San Francisco64.5676m2$2,987.26$46.27
Los Angeles67.076m2$2,393.45$35.68

Dublin and Amsterdam
share the 6th position on the list of the cities with the highest rent per m2 at $33.25. Both of these cities present the ideal blend of size and price when compared to all the other cities listed.

Chicago, Oslo, Copenhagen and Barcelona hold the 7th rank as cities with the highest rent per m2 at $30. While different in spirits, these cities offer a perfect blend of space and cost. 

Ranked 8th, Prague and Berlin offer a European living experience without breaking the bank at $24.90 per m2. These cities are not only similar in price for m2, but also in the price of one bedroom apartment rents overall.

Stockholm and Vienna come 9th as cities with the highest rent per m2 averaging at $22.47. Although the average price for m2 in these cities are almost the same, average apartment size in Vienna is considerably low compared to Stockholm. Vienna also offers the cheapest option for rent at $862.09.

Helsinki and Lisbon round off the list as cities with the lowest rent per m2 at $21. Among all the listed cities, Lisbon is the one with the lowest rent price per mat $20.97 showing a $29 difference with the first ranked city.

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