(News Nation) – The cost of living alone is rising, and New Zealo’s analysis shows that the so-called “single tax” is now at an all-time high.
Solo rentals across the country add $7,562 per year to a one-bedroom unit compared to couples who split their rentals with partners. The premium, known as the single tax, has increased by more than $450 over a year ago.
In high-cost regions like New York City and San Francisco, singles taxes are much higher.
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Big Apple singles pay an average of over $20,100 a year for living alone, the highest premium in a US city.
“As everyone in the New York dating scene says, it’s not easy to be single here, and the lack of affordable rentals just adds another layer to that struggle,” says Zillow’s New York City brand StreetEasy’s home trend expert Casey Roberts said in a statement.
The California Bay Area is also a steep price for singles. San Francisco ($14,793) and San Jose ($14,254) won the second and third highest singles tax in the country. Boston ($12,289) came in fourth, followed by Washington, DC ($12,019).
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Sky-High Singles Tax is no surprise to most people. According to Zillow, rents have been steadily increasing, rising in 47 of the 50 largest metropolitan areas a year ago.
The typical US asking rent reached $1,968 in January, up 3.5% from a year ago and over 33% since the beginning of the pandemic.
The latest inflation report further highlighted the country’s housing affordability challenges. Shelter accounted for around 30% of the overall increase in the consumer price index last month.
But that’s not all the bad news for renters.
Zillow’s data shows that landlords are increasingly offering concessions to attract tenants. Last month, more than 41% of real estate companies’ rental lists featured incentives. This is the record height of Zillow data.
These giveaways are expected to slow down in the months before competition in the rental market rises. Much of this depends on what happens with the mortgage fees that keep potential buyers on the sidelines.
Zillow has determined single taxes for each city based on its median one-bedroom rental in December 2024. That number was multiplied by 12 to get a typical annual rent, and was halved to understand whether living alone with a partner would cost. Split the cost.
According to Zillow, the top 10 cities in the US with the best single tax:
New York City, New York: $20,100, San Francisco, California: San Jose, California: $14,793: San Jose, California: $14,254, Boston, Boston: $12,829 Washington, DC: $12,019, San Diego, California: $11,897 Seattle, Washington: Los Angeles: $10,228 Denver, CO: $9,676
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