How South Jersey Compares to Cities With the Most Expensive Apartment Rents

According to a new report from online real estate marketplace Zumper, rent in San Francisco is officially the most expensive place to rent a one-bedroom apartment - even higher than the Big Apple.

The firm looked at 500,000 active listings in cities across the country and calculated the median price for various types of apartments throughout August 2014.

The report found that San Francisco has the most expensive one-bedroom and two-bedroom apartments, with a median rent of $3,100 and $4,050, respectively.

New York came in second, with median rents of $2,995 for a one-bedroom and $3,495 for a two-bedroom.

In 2012, National Low Income Housing Coalition, found New Jersey overall to be the third-most expensive place to rent in the nation, behind Hawaii and California, with a $52,081 yearly household income needed in order to afford a two-bedroom unit. The figures assume 30 percent of income is used for housing.

The latest data available for apartment rentals in Atlantic County shows people who live in the Atlantic City-Hammonton Metropolitan Statistical Area - Atlantic County - needed to earn $45,560 per year to pay the fair-market rent for a two-bedroom unit calculated at $1,139. Cape May County average rents of $1025 a month.

Here's a chart of the American cities with the 20 highest median rental prices for rentals. As you can see, Atlantic County falls between #16 Austin, Texas and #17 Charlotte, NC.