LA RENTERS: No Worries, You Only Pay 5th Highest Rates

Most And Least Expensive U.S. Cities For Renters
Francesca Levy 09.23.08, 6:00 AM ET. Forbes.com

California house-hunters are squeezed. As credit tightens and the economy softens, many would-be buyers in San Jose, San Francisco and Los Angeles can't find or, in some cases, afford a mortgage.

But in areas like these, where housing prices have dropped precipitously, increased demand has driven up rents. Renters in San Jose pay a whopping $1,314 a month; for those just north in San Francisco, that number dips to $1,210; and in Los Angeles, it's a relative bargain at $1,101.

Elsewhere, such as in Cleveland and Pittsburgh, housing is still a relative bargain, but it may not feel that way to residents whose low earning power and poor job prospects have contributed to the weakening rents. There, monthly lessees pay $678 and $608, respectively. MORE