For the first time in the nation’s history, median rents crossed $2,000. According to a report from real estate listing site Redfin, the median rent on all apartments listed nationwide rose 15% nationwide compared to a year ago. For those millions of Americans who do not have the stability afforded to them through homeownership, rising rent, along with inflation and other pandemic-related causes that have driven up housing costs, will take a serious financial toll.
A little over one-third of U.S. housing units are occupied by renters. However, in some parts of the country, renting is so uncommon that this spike in rental prices will have a relatively small impact.
To determine the 50 counties with the lowest rental rates, 24/7 Wall St. reviewed housing data from the U.S. Census Bureau’s 2020 American Community Survey. We ranked county and county equivalents by five-year estimates of the share of housing units that are occupied by renters. Nationwide, 35.6% of housing units are rental properties. Among the 50 counties on this list, that figure ranges from 14.8% to as little as 7.2% housing units.
Young people are far more likely to rent homes than buy. Well over half of all renters in the United States are under the age of 35, whereas that age group accounts for less than 10% of homeowners. Many of the counties on this list have such low shares of renters because they have older populations.
According to the census, 23.2% of Americans are 18-34 years old. In all but one of the places on this list, that age group accounts for a smaller share of the population. In Sumter County, Florida, just 8.6% of the population is 18-34. This is the youngest county in every state.
Population density is a factor in the share of housing units that are rentals. In less urban areas, a relatively small share of residents live in multi-story rental buildings. The vast majority of these counties have lower population density than the national figure of 93 people per square mile. This includes Grant County, North Dakota, which has a population density of just 1.39 people per square mile. These are the counties with the highest rent in America.
Click here to see counties where the fewest people rent
To determine the counties with the lowest share of renters, 24/7 Wall St. reviewed five-year estimates of the share of housing units that are occupied by renters from the U.S. Census Bureau’s 2020 American Community Survey.
Counties were excluded if rental rates were not available in the 2020 ACS, if there were fewer than 1,000 housing units, or if the sampling error associated with a county’s data was deemed too high.
The sampling error was defined as too high if the coefficient of variation — a statistical assessment of how reliable an estimate is — for a county’s rental rate was above 15% and greater than two standard deviations above the mean CV for all counties’ rental rates. We similarly excluded counties that had a sampling error too high for their population, using the same definition.
Counties were ranked based on the percentage of housing units that are occupied by renters. To break ties, we used the number of housing units that are occupied by renters.
Additional information on median rental cost, median home value, and median household income are also five-year estimates from the 2020 ACS.
50. Tyler County, West Virginia
> Rental occupied housing units: 14.8%
> Median rental cost: $651 — 779th lowest of 3,045 counties (tied)
> Median home value: $90,900 — 488th lowest of 3,046 counties (tied)
> Median household income: $47,598 — 926th lowest of 3,046 counties
[in-text-ad]
49. Ness County, Kansas
> Rental occupied housing units: 14.8%
> Median rental cost: $624 — 550th lowest of 3,045 counties (tied)
> Median home value: $74,100 — 129th lowest of 3,046 counties (tied)
> Median household income: $57,222 — 1,107th highest of 3,046 counties
24/7 Wall St.
48. Dodge County, Minnesota
> Rental occupied housing units: 14.7%
> Median rental cost: $720 — 1,458th lowest of 3,045 counties (tied)
> Median home value: $197,100 — 678th highest of 3,046 counties (tied)
> Median household income: $79,020 — 205th highest of 3,046 counties
47. Leslie County, Kentucky
> Rental occupied housing units: 14.7%
> Median rental cost: $491 — 59th lowest of 3,045 counties (tied)
> Median home value: $69,000 — 84th lowest of 3,046 counties
> Median household income: $36,038 — 165th lowest of 3,046 counties
[in-text-ad-2]
46. Hamilton County, New York
> Rental occupied housing units: 14.7%
> Median rental cost: $841 — 857th highest of 3,045 counties (tied)
> Median home value: $170,500 — 933rd highest of 3,046 counties (tied)
> Median household income: $60,625 — 820th highest of 3,046 counties (tied)
45. Brown County, Indiana
> Rental occupied housing units: 14.6%
> Median rental cost: $822 — 940th highest of 3,045 counties (tied)
> Median home value: $206,600 — 612th highest of 3,046 counties
> Median household income: $66,833 — 490th highest of 3,046 counties
[in-text-ad]
44. Lyon County, Iowa
> Rental occupied housing units: 14.6%
> Median rental cost: $714 — 1,400th lowest of 3,045 counties (tied)
> Median home value: $160,700 — 1,075th highest of 3,046 counties (tied)
> Median household income: $65,959 — 516th highest of 3,046 counties
24/7 Wall St.
43. Ralls County, Missouri
> Rental occupied housing units: 14.6%
> Median rental cost: $716 — 1,425th lowest of 3,045 counties (tied)
> Median home value: $134,700 — 1,518th lowest of 3,046 counties (tied)
> Median household income: $54,194 — 1,395th highest of 3,046 counties
42. Jefferson County, Kansas
> Rental occupied housing units: 14.5%
> Median rental cost: $759 — 1,288th highest of 3,045 counties (tied)
> Median home value: $163,400 — 1,021st highest of 3,046 counties (tied)
> Median household income: $67,429 — 462nd highest of 3,046 counties
[in-text-ad-2]
41. Botetourt County, Virginia
> Rental occupied housing units: 14.3%
> Median rental cost: $807 — 1,022nd highest of 3,045 counties (tied)
> Median home value: $230,500 — 454th highest of 3,046 counties
> Median household income: $72,719 — 294th highest of 3,046 counties
40. Goochland County, Virginia
> Rental occupied housing units: 14.3%
> Median rental cost: $1,129 — 269th highest of 3,045 counties (tied)
> Median home value: $379,200 — 103rd highest of 3,046 counties
> Median household income: $97,146 — 58th highest of 3,046 counties
[in-text-ad]
39. Montmorency County, Michigan
> Rental occupied housing units: 14.3%
> Median rental cost: $700 — 1,264th lowest of 3,045 counties (tied)
> Median home value: $113,300 — 1,039th lowest of 3,046 counties (tied)
> Median household income: $42,160 — 480th lowest of 3,046 counties (tied)
38. Gilpin County, Colorado
> Rental occupied housing units: 14.3%
> Median rental cost: $1,245 — 169th highest of 3,045 counties
> Median home value: $387,000 — 97th highest of 3,046 counties
> Median household income: $90,547 — 89th highest of 3,046 counties
37. Chambers County, Texas
> Rental occupied housing units: 14.2%
> Median rental cost: $990 — 468th highest of 3,045 counties
> Median home value: $224,400 — 490th highest of 3,046 counties (tied)
> Median household income: $95,989 — 63rd highest of 3,046 counties
[in-text-ad-2]
36. Oscoda County, Michigan
> Rental occupied housing units: 14.1%
> Median rental cost: $691 — 1,167th lowest of 3,045 counties (tied)
> Median home value: $96,800 — 619th lowest of 3,046 counties (tied)
> Median household income: $43,457 — 578th lowest of 3,046 counties
35. Grand Isle County, Vermont
> Rental occupied housing units: 14.1%
> Median rental cost: $1,024 — 418th highest of 3,045 counties (tied)
> Median home value: $287,200 — 246th highest of 3,046 counties
> Median household income: $81,667 — 175th highest of 3,046 counties
[in-text-ad]
34. Lake of the Woods County, Minnesota
> Rental occupied housing units: 14.1%
> Median rental cost: $675 — 991st lowest of 3,045 counties (tied)
> Median home value: $179,500 — 820th highest of 3,046 counties
> Median household income: $50,669 — 1,236th lowest of 3,046 counties
24/7 Wall St.
33. Floyd County, Virginia
> Rental occupied housing units: 14.0%
> Median rental cost: $684 — 1,091st lowest of 3,045 counties (tied)
> Median home value: $170,000 — 937th highest of 3,046 counties
> Median household income: $51,250 — 1,308th lowest of 3,046 counties (tied)
32. Greene County, Mississippi
> Rental occupied housing units: 13.9%
> Median rental cost: $627 — 579th lowest of 3,045 counties (tied)
> Median home value: $83,100 — 294th lowest of 3,046 counties (tied)
> Median household income: $47,033 — 878th lowest of 3,046 counties
[in-text-ad-2]
31. Twiggs County, Georgia
> Rental occupied housing units: 13.8%
> Median rental cost: $682 — 1,071st lowest of 3,045 counties (tied)
> Median home value: $71,800 — 107th lowest of 3,046 counties (tied)
> Median household income: $43,477 — 579th lowest of 3,046 counties
30. Oldham County, Kentucky
> Rental occupied housing units: 13.6%
> Median rental cost: $964 — 511th highest of 3,045 counties (tied)
> Median home value: $299,300 — 211th highest of 3,046 counties
> Median household income: $103,761 — 38th highest of 3,046 counties
[in-text-ad]
29. Chisago County, Minnesota
> Rental occupied housing units: 13.6%
> Median rental cost: $912 — 645th highest of 3,045 counties (tied)
> Median home value: $244,600 — 381st highest of 3,046 counties
> Median household income: $86,900 — 118th highest of 3,046 counties
24/7 Wall St.
28. Gladwin County, Michigan
> Rental occupied housing units: 13.6%
> Median rental cost: $593 — 380th lowest of 3,045 counties (tied)
> Median home value: $111,000 — 988th lowest of 3,046 counties (tied)
> Median household income: $45,957 — 783rd lowest of 3,046 counties
27. Sabine County, Texas
> Rental occupied housing units: 13.6%
> Median rental cost: $659 — 839th lowest of 3,045 counties (tied)
> Median home value: $99,900 — 701st lowest of 3,046 counties (tied)
> Median household income: $38,917 — 282nd lowest of 3,046 counties
[in-text-ad-2]
26. Geauga County, Ohio
> Rental occupied housing units: 13.3%
> Median rental cost: $839 — 864th highest of 3,045 counties (tied)
> Median home value: $247,700 — 367th highest of 3,046 counties (tied)
> Median household income: $83,730 — 147th highest of 3,046 counties
25. Bandera County, Texas
> Rental occupied housing units: 13.3%
> Median rental cost: $884 — 706th highest of 3,045 counties (tied)
> Median home value: $202,000 — 637th highest of 3,046 counties (tied)
> Median household income: $60,361 — 847th highest of 3,046 counties
[in-text-ad]
24. Spencer County, Kentucky
> Rental occupied housing units: 13.1%
> Median rental cost: $726 — 1,514th lowest of 3,045 counties (tied)
> Median home value: $227,000 — 477th highest of 3,046 counties
> Median household income: $85,488 — 127th highest of 3,046 counties
23. Nance County, Nebraska
> Rental occupied housing units: 13.0%
> Median rental cost: $654 — 802nd lowest of 3,045 counties (tied)
> Median home value: $78,400 — 207th lowest of 3,046 counties (tied)
> Median household income: $53,147 — 1,496th highest of 3,046 counties (tied)
22. Wilson County, Texas
> Rental occupied housing units: 12.7%
> Median rental cost: $931 — 593rd highest of 3,045 counties (tied)
> Median home value: $210,600 — 582nd highest of 3,046 counties (tied)
> Median household income: $80,082 — 192nd highest of 3,046 counties
[in-text-ad-2]
21. Florence County, Wisconsin
> Rental occupied housing units: 12.5%
> Median rental cost: $478 — 46th lowest of 3,045 counties (tied)
> Median home value: $130,700 — 1,455th lowest of 3,046 counties (tied)
> Median household income: $50,821 — 1,253rd lowest of 3,046 counties
20. Antrim County, Michigan
> Rental occupied housing units: 12.4%
> Median rental cost: $761 — 1,271st highest of 3,045 counties (tied)
> Median home value: $161,700 — 1,053rd highest of 3,046 counties
> Median household income: $57,256 — 1,102nd highest of 3,046 counties
[in-text-ad]
19. Hanson County, South Dakota
> Rental occupied housing units: 12.2%
> Median rental cost: $715 — 1,410th lowest of 3,045 counties (tied)
> Median home value: $139,900 — 1,427th highest of 3,046 counties (tied)
> Median household income: $63,750 — 635th highest of 3,046 counties (tied)
18. Grant County, North Dakota
> Rental occupied housing units: 12.1%
> Median rental cost: $527 — 117th lowest of 3,045 counties (tied)
> Median home value: $75,600 — 155th lowest of 3,046 counties (tied)
> Median household income: $53,750 — 1,441st highest of 3,046 counties (tied)
17. Alcona County, Michigan
> Rental occupied housing units: 11.8%
> Median rental cost: $643 — 713th lowest of 3,045 counties (tied)
> Median home value: $118,700 — 1,169th lowest of 3,046 counties (tied)
> Median household income: $43,341 — 567th lowest of 3,046 counties
[in-text-ad-2]
16. Ontonagon County, Michigan
> Rental occupied housing units: 11.8%
> Median rental cost: $550 — 181st lowest of 3,045 counties (tied)
> Median home value: $74,400 — 137th lowest of 3,046 counties (tied)
> Median household income: $41,776 — 445th lowest of 3,046 counties
15. King William County, Virginia
> Rental occupied housing units: 11.6%
> Median rental cost: $1,076 — 337th highest of 3,045 counties (tied)
> Median home value: $205,800 — 616th highest of 3,046 counties (tied)
> Median household income: $73,284 — 283rd highest of 3,046 counties
[in-text-ad]
14. Morgan County, Utah
> Rental occupied housing units: 11.5%
> Median rental cost: $1,230 — 180th highest of 3,045 counties
> Median home value: $417,600 — 78th highest of 3,046 counties
> Median household income: $100,408 — 48th highest of 3,046 counties
24/7 Wall St.
13. Sumter County, Florida
> Rental occupied housing units: 11.4%
> Median rental cost: $935 — 581st highest of 3,045 counties (tied)
> Median home value: $267,100 — 296th highest of 3,046 counties
> Median household income: $59,618 — 902nd highest of 3,046 counties
12. Presque Isle County, Michigan
> Rental occupied housing units: 11.3%
> Median rental cost: $552 — 191st lowest of 3,045 counties (tied)
> Median home value: $111,200 — 996th lowest of 3,046 counties (tied)
> Median household income: $48,734 — 1,029th lowest of 3,046 counties
[in-text-ad-2]
11. Calhoun County, Illinois
> Rental occupied housing units: 11.3%
> Median rental cost: $546 — 172nd lowest of 3,045 counties (tied)
> Median home value: $131,800 — 1,479th lowest of 3,046 counties (tied)
> Median household income: $66,602 — 492nd highest of 3,046 counties
10. Leelanau County, Michigan
> Rental occupied housing units: 11.1%
> Median rental cost: $961 — 515th highest of 3,045 counties (tied)
> Median home value: $285,700 — 249th highest of 3,046 counties (tied)
> Median household income: $67,330 — 467th highest of 3,046 counties
[in-text-ad]
9. Wahkiakum County, Washington
> Rental occupied housing units: 11.0%
> Median rental cost: $785 — 1,127th highest of 3,045 counties (tied)
> Median home value: $228,600 — 469th highest of 3,046 counties
> Median household income: $54,524 — 1,357th highest of 3,046 counties
8. Harris County, Georgia
> Rental occupied housing units: 10.7%
> Median rental cost: $874 — 733rd highest of 3,045 counties (tied)
> Median home value: $230,400 — 455th highest of 3,046 counties (tied)
> Median household income: $79,860 — 195th highest of 3,046 counties
7. Northumberland County, Virginia
> Rental occupied housing units: 10.6%
> Median rental cost: $1,014 — 435th highest of 3,045 counties (tied)
> Median home value: $270,900 — 286th highest of 3,046 counties
> Median household income: $59,437 — 923rd highest of 3,046 counties
[in-text-ad-2]
6. Washington County, Alabama
> Rental occupied housing units: 10.5%
> Median rental cost: $742 — 1,390th highest of 3,045 counties (tied)
> Median home value: $88,100 — 421st lowest of 3,046 counties (tied)
> Median household income: $42,331 — 499th lowest of 3,046 counties
5. New Kent County, Virginia
> Rental occupied housing units: 10.0%
> Median rental cost: $1,066 — 354th highest of 3,045 counties (tied)
> Median home value: $296,700 — 216th highest of 3,046 counties
> Median household income: $97,688 — 55th highest of 3,046 counties
[in-text-ad]
4. Benzie County, Michigan
> Rental occupied housing units: 9.1%
> Median rental cost: $803 — 1,040th highest of 3,045 counties (tied)
> Median home value: $195,400 — 690th highest of 3,046 counties (tied)
> Median household income: $64,257 — 609th highest of 3,046 counties
3. Park County, Colorado
> Rental occupied housing units: 9.0%
> Median rental cost: $1,167 — 228th highest of 3,045 counties (tied)
> Median home value: $367,400 — 116th highest of 3,046 counties
> Median household income: $76,611 — 229th highest of 3,046 counties
2. Elbert County, Colorado
> Rental occupied housing units: 8.7%
> Median rental cost: $1,203 — 195th highest of 3,045 counties (tied)
> Median home value: $492,300 — 50th highest of 3,046 counties
> Median household income: $104,231 — 34th highest of 3,046 counties
[in-text-ad-2]
#/media/File:Belmead.JPG "Belmead by Jmabran")
1. Powhatan County, Virginia
> Rental occupied housing units: 7.2%
> Median rental cost: $1,125 — 272nd highest of 3,045 counties
> Median home value: $291,300 — 230th highest of 3,046 counties
> Median household income: $93,833 — 71st highest of 3,046 counties
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.