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SAN FRANCISCO — It’s no secret that rent in Denver can be pretty expensive but it could be worse.

A new study by Walletwyse says that San Francisco has the highest rent in the world. Neighboring cities in the Bay Area, San Jose and Oakland, also made the top five.

The study ranked the average rent in 540 cities around the world using data from Numbeo, a website that tracks the cost of living in cities around the world.

According the chart released, rents in San Francisco average $3,500 a month. Hamilton, Bermuda comes in second at $3,400 while Manhattan came in third at $3,050.

San Jose, California came in fourth at $2,500 while Oakland, California and Hong Kong tied to round out the top five with an average rent of $2,450.

According to the study, the average rent in Denver and Boulder is $1,650 a month, which is tied with Vancouver and Oxford, England.