Housing rental costs are skyrocketing in major cities worldwide, particularly in the United States. Several cities have exorbitant rental prices. In San Francisco, for example, rental costs reach US$3,500, equivalent to approximately Rp 50 million per month. This is followed by Manhattan with a rental rate of US$3,050 per month and Brooklyn at US$2,250 per month.
The affordability of housing rental costs has become a serious issue. The rental prices in these cities are unaffordable for ordinary citizens with professions such as teachers and nurses.
Further analysis reveals that 50% of the cities with the highest rental costs are located in California. However, a significant disparity exists with other cities having lower prices. Of the 140 cities surveyed, two have rental costs exceeding US$3,000 per month, nine have costs exceeding US$2,000 per month, and 17 have costs exceeding US$1,500 per month. The majority of cities, however, have average rental costs below US$1,500 per month. In 2016, the average rental cost was US$1,050 per month. This figure increased to US$1,252 in 2017.