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Average Rent By State

Average Rent By State

Rent across America: A State-wise Perspective

Balancing the economics of the housing market is a complex issue across the United States, with the average household spending one-third of its budget on housing costs. However, what often gets overlooked is the stark variation in average rent imposed by each state, and the economic and social forces at play which form the changing landscape of rentership in America. Here we highlight the regional disparities that underscore the diverse economic and societal factors at play.

Key findings from the data include:

  • The most expensive median rent is found in Hawaii, standing at a staggering $2,036, followed closely by Massachusetts at $1,770, and California at $1,677. These are regions boasting high living standards, but also high costs of living that place significant pressure on renters.
  • On the other end of the scale, Arkansas stands as the most affordable state with median rent at $752, almost 63.8% less than that of Hawaii.
  • There is a clear regional pattern when we examine the top ten states with the highest median rents - eight of them are located either on the east coast or the west coast. This coastal trend suggests that geographic attractiveness, better job prospects, and higher living standards come with a hefty price tag in terms of rent.
  • Garnering insights from the bottom ten states, we can observe that the Midwest and the South host the majority of these states. These regions traditionally host lower rental and living costs, factoring in lower incomes and fewer big cities.

States with Most Expensive Rent

Starting at the tip of the scale, the islands of Hawaii hold the title of being the most expensive state for renters with a shocking median rent of $2,036. This price might be partly justified by the stunning views, tropical climate, and easy access to stunning natural landscapes, but it is indeed a paramount cost for a household to manage.

Following Hawaii, the North Eastern coast of the United States paints a grim picture for renters' wallets. Massachusetts demands hefty rent payments with the median price pegged at $1,770. Not too far behind Massachusetts, we find another coastal state, California, with median rent at $1,677. Known for its tech-infused economy and start-up appeal, California's high rent is a reflection of the higher living standards and competitive job market.

Next on the list are New Jersey and Connecticut with median rents of $1,617 and $1,428 respectively, carrying on the trend of pricey Northeast coast rents. Maryland follows closely behind with a median rent of $1,391.

Even the smallest state in the U.S., Rhode Island, doesn't provide respite for renters, with median rent identified at $1,368. Moving our focus northward to Alaska, we see a median rent of $1,313, evidence that remote states also command substantial rent prices.

Rounding off our top 10, we have Colorado and New Hampshire with median rent prices of $1,304 and $1,286 respectively.

States with the Most Expensive Median Rent:

  1. Hawaii - $2,036
  2. Massachusetts - $1,770
  3. California - $1,677
  4. New Jersey - $1,617
  5. Connecticut - $1,428
  6. Maryland - $1,391
  7. Rhode Island - $1,368
  8. Alaska - $1,313
  9. Colorado - $1,304
  10. New Hampshire - $1,286

States with Cheapest Rent

For those seeking to maximize their dollar, according to our data, the most affordable state to rent in is Arkansas, where the median rent stands at a modest $752 per month. North Dakota follows with a median rent of $765 a month, a slight step up from Arkansas, but still substantially less than the national average.

Kentucky, with a median monthly rent of $795, holds the third position, followed by Mississippi and Missouri, where the median rents are only slightly higher at $800 and $803 respectively. In Nebraska, the median rent is $809 per month. In contrast, the median rent in states such as Virginia, Kansas, West Virginia, and Alabama edges a bit higher, but still witnesses affordability where the median rents range from $823 to $829. 

Ten States with the Cheapest Rents:

  1. Arkansas - $752
  2. North Dakota - $765
  3. Kentucky - $795
  4. Mississippi - $800
  5. Missouri - $803
  6. Nebraska - $809
  7. Virginia - $823
  8. Kansas - $828
  9. West Virginia - $829
  10. Alabama - $829

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