JERSEY CITY, N.J. (PIX11) — For years now, Jersey City ranked as a top destination for prospective renters who found themselves priced out of the five boroughs or even neighboring Hoboken. But the good old days appear to be over, especially in the neighborhoods near Jersey City’s waterfront.

“They are definitely going up. Just what I can tell by looking around, even a year or two years ago what I’d be willing to spend and what I would get, there’s a huge difference now,” said Arlene, who lives in Jersey City’s Newport section.

A new study finds the abundance of luxury high-rises pushed Jersey City to the top of the list as the most expensive city in the country for renters. The average rent is $5,500 a month. Go online and you can easily find luxury Jersey City apartments renting for almost $14,000 a month. researcher Jon Leckie said his team did not have enough listing data to include New York City rents. But he adds the idea that Jersey City is no longer a bargain renter’s paradise is not at all surprising.

“I think some of what is driving up the rents in Jersey City are sort of luxury developments. Developers don’t feel like they’re going to get the kind of return on their investment they want without building luxury apartments. So obviously, with all of those amenities and everything else that goes along with that, rents are going to be higher,” Leckie said.

City Council President Joyce Watterman said if a renter is willing to expand their search beyond the more affluent and less diverse Gold Coast, Jersey City has plenty of nice, affordable rental housing.

“It depends on where you want to live in Jersey City. Because now if you want to live out on the waterfront, it’s difficult to live. But if you want to move further down on the south side, there is still space in Jersey City for you to live. It’s just what neighborhood do you want to go in,” Watterman said.