New analysis from Moody’s confirms what many area residents already believed: rent in the region is among the highest in the entire United States.
Fairfield County is the tenth most expensive metropolitan area in the country, with an average rent of $2,441, higher than Santa Cruz, Los Angeles, San Diego, and Miami. To maintain a “comfortable” lifestyle while renting an average sized apartment in Fairfield County the analysts concluded that a renter needs to earn more than $97,000 a year.
Westchester County faces even steeper prices, ranking as the fourth most expensive metropolitan area in the country, coming in behind only New York City itself, San Francisco, and San Jose. To afford the average rent in Westchester County of $2,945 per month and live comfortably a resident has to make almost $112,000 a year.
The study also revealed that many of the pandemic driven housing trends, such as flight from cities, have abated, but not before altering conditions in many suburban markets.
