Apartment rent is the main expense item in any major US city. The total cost of living depends on the price of renting an apartment. We have updated the ranking of the most expensive cities in the US in May 2022 in terms of the cost of renting apartments with one and two bedrooms. New York is again the most expensive city in the US in May 2022. Renting a one-bedroom apartment in New York has risen in price by 38.10% over the year. The average cost of a one-bedroom apartment is $3,590 per month. The TOP 3 most expensive US cities also included San Francisco and Miami.