The Priciest 'hoods in the World...And How You Can Afford to Live in Them
We scoured dozens of apartment sites, spoke to tons of natives, and found the most affordable rents in some of the most most expensive cities in the world. Not only that, we narrowed it down to some of the nicest neighborhoods in each city (because even Toledo probably has, like, one expensive block). The goal here was to find apartments of all sizes that were significantly under the average market rate. Don't see a studio apartment in the burg of your choice? That's because there's no studio apartment currently available that's a real steal... but there might be a sweet two bedroom—read on to find out.
Neighborhood: 16th arrondissement
Why it’s so damn expensive: The 16th arrondissement of Paris, AKA Arrondissement Passy, is filled with gated communities and villas that would belong on country estates, not the middle of a city. Oh, and the Paris Open is held there. So, yeah: money.
Rent we found: $672 per month for a studio.
Average rent: $2350 per month for a 1 bedroom.
Neighborhood: Chaoyang District
Why it’s so damn expensive: One of the fastest-growing parts of town, Chaoyang is the home of the corporate HQs of some of the biggest companies in China, meaning they're also some of the biggest in the world. Those high-power execs like to live close to work, obviously.
Rent we found: $2000 per month for a 2 bedroom.
Average rent: $2450 per month for a 2 bedroom in the city's center.
Why it’s so damn expensive: Considered the "Beverly Hills" of the Middle East, Jumeirah is one of the few places expats are actually allowed to rent at all, driving up prices significantly. And there's a freakin' water park (this is still the desert, people).
Rent we found: $1936 per month for a furnished 1 bedroom.
Average rent: $2759 per month for a 1 bedroom.
Neighborhood: Coral Gables
Why it’s so damn expensive: While Miami proper is a pretty rough town, Coral Gables provides a quaint home oasis with a definitive lack of tank tops and fist pumps. Its buildings smack of the Mediterranean, with conch-colored piazzas frocked by electric green palms. In short, it's an escape from the condo-mashed and loud tourist-laden South Beach.
Rent we found: $1000 per month for a studio.
Average rent: $1276 per month for a 1 bedroom, which is more than this studio in one of its best neighborhoods.
Why it’s so damn expensive: Another expat favorite, this part of town retains substantial French influence—making it a unique architectural and cultural hodgepodge. Plus, its busy shopping centers are balanced by tree-lined streets and public parks a plenty.
Rent we found: $1126.65 per month for a 1 bedroom.
Average rent: $1548.77 per month for a 1 bedroom.
Why it’s so damn expensive: Carouge is 10 minutes outside of Geneva’s center and home to more failed artists and writers than a Wesleyan reunion. It's sometimes called “Geneva’s Williamsburg,” but please don’t call it that.
Rent we found: $1150.80 per month for a studio.
Average rent: $4220 per month for a 1 bedroom.
4. Hong Kong
Neighborhood: The Peak
Why it’s so damn expensive: This elevated part of the city provides panoramic views of the city and has been home to expensive real estate since the 19th century, when Europeans were taking sedan chairs up the mountain side.
Rent we found: $3869.99 per month for a 2 bedroom.
Average rent: Averages are hard to find here, but if you were buying, it comes out to $11,148 per square foot, according to the Wall Street Journal.
Neighborhood: District 6
Why it’s so damn expensive: It’s an expat favorite, packed with bars and nightlife, but it also boasts a boat-full of history, with brass statues along its river from when District 6 was a bustling 19th-century port (and one of the Singapore’s first major hubs).
Rent we found: $950 per month for a fully furnished studio.
Average rent: $2648.99 per month for a 1 bedroom in the city center.
2. New York
Neighborhood: West Village
Why it’s so damn expensive: Some of the best food in the world + daily celebrity sightings + landmark laws that prevent a lot of development = crazy high rent.
Rent we found: $1995 per month for a 1 bedroom.
Average rent: $3425 per month for a 1 bedroom
Why it’s so damn expensive: Presumably because everyone wants to live in the London neighborhood where English beef cake Idris Elba hails from.
Rent we found: $2029 per month for 2 bedrooms.
Average rent: $2725 per month a 2 bedroom.