Which Cities Have The Most Expensive Rent In The World?

Across major cities worldwide, the cost of rent has climbed sharply in recent years.

Record-high housing prices, paired with a wave of remote workers moving into new markets, are reshaping rental dynamics. At the same time, limited supply is tightening conditions even further, compounding challenges for renters in countless regions.

This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the cities with the most expensive rent in the world, based on data from Deutsche Bank. Figures are in nominal U.S. dollars.

New York Has the Most Expensive Rent in the World

Here is the average monthly rent of a one-bedroom apartment in each city center in 2025:

Today, it costs on average $4,143 to rent in New York City—rising 22% over the past five years.

Even with an exodus of workers during the pandemic, prices remain high given strong demand, rich cultural activity, and the Big Apple’s position as the global epicenter of finance.

Boston, meanwhile, ranks in second with rent averaging $3,394 per month. High land and materials costs have impeded home building activity, contributing to a low supply of housing stock, further driving up prices.

Rounding out the top three is San Francisco, at $3,332, although rental costs have increased just 1% since 2020.

Beyond America, Singapore stands as the most expensive, with rent surging 55% over the period to reach $3,167—the fastest growth rate on the list. Similarly, rental costs are up 54% in Dubai, making it the costliest city to rent in the Middle East and ranking eighth overall in 2025.

To learn more about this topic, check out this graphic on the least affordable housing markets in North America.