Median rents have hit record highs across the country, thanks to inflation and pandemic-related shortages of housing and building supplies. In many parts of the country, people who choose to rent may find it difficult to meet conventional wisdom’s rule that monthly rent should not exceed 30% of one’s monthly income. While rent prices are much more affordable in some parts of the country, in most states there is at least one metropolitan area where rents are especially high.
To find the metro area with the highest rent in every state, 24/7 Wall St. reviewed five-year estimates of median gross rent from the U.S. Census Bureau’s 2020 American Community Survey. It is important to note that the figures reflected here are for 2020, the most recent data available through the census. While prices today are much higher across much of the country, the most expensive rental market in each state in 2020 is likely still one of the most expensive markets in 2022. The 2020 median rent nationwide was $1,096. In 29 of the 50 states, there is at least one metro area with a higher 2020 median gross rent.
Housing costs reflect the income levels of the population living there. Housing costs tend to be more expensive in wealthier communities. Of the 50 metro areas on this list, 41 have higher typical household incomes compared to their home state. The San Jose metropolitan area, which has the highest 2020 median gross rent, at $2,365, has a median household income of $129,348, compared to the U.S. value of $64,994. This is the richest town in every state.
As a result of those higher incomes, most of the metro areas on this list with the highest rents were actually relatively affordable in 2020. Nationwide, 2020 median gross rent comes to 29.6% of household income. In 31 of the metro areas with the most expensive rent in each state, that figure is lower. In the Columbus metro area, 2020 median gross rent is equal to just 23.5% of income. 2022 rents have risen considerably, so this figure has almost certainly increased in many of these metro areas in the past two years. These are the U.S. cities where the most families need food stamps.
Click here for the big city with the highest rent in every state
Alabama: Daphne-Fairhope-Foley
> Median monthly rental cost: $1,032 (Alabama: $811)
> Share of income typically spent on rent: 28.2% (Alabama: 28.8%)
> Rental occupied housing units: 23.0% (Alabama: 30.8%)
> Median home value: $211,600 (Alabama: $149,600)
> No. of metros considered in ranking: 12
[in-text-ad]
Alaska: Fairbanks
> Median monthly rental cost: $1,297 (Alaska: $1,240)
> Share of income typically spent on rent: 27.3% (Alaska: 27.5%)
> Rental occupied housing units: 41.1% (Alaska: 35.2%)
> Median home value: $240,300 (Alaska: $275,600)
> No. of metros considered in ranking: 2
24/7 Wall St.
Arizona: Flagstaff
> Median monthly rental cost: $1,185 (Arizona: $1,097)
> Share of income typically spent on rent: 31.5% (Arizona: 29.0%)
> Rental occupied housing units: 39.2% (Arizona: 34.7%)
> Median home value: $299,100 (Arizona: $242,000)
> No. of metros considered in ranking: 7
Arkansas: Fayetteville-Springdale-Rogers
> Median monthly rental cost: $868 (Arkansas: $760)
> Share of income typically spent on rent: 24.9% (Arkansas: 27.2%)
> Rental occupied housing units: 39.3% (Arkansas: 34.2%)
> Median home value: $186,500 (Arkansas: $133,600)
> No. of metros considered in ranking: 6
[in-text-ad-2]
California: San Jose-Sunnyvale-Santa Clara
> Median monthly rental cost: $2,365 (California: $1,586)
> Share of income typically spent on rent: 28.0% (California: 32.2%)
> Rental occupied housing units: 43.4% (California: 44.7%)
> Median home value: $1,041,800 (California: $538,500)
> No. of metros considered in ranking: 26
Colorado: Boulder
> Median monthly rental cost: $1,582 (Colorado: $1,335)
> Share of income typically spent on rent: 33.7% (Colorado: 30.6%)
> Rental occupied housing units: 36.4% (Colorado: 33.8%)
> Median home value: $539,100 (Colorado: $369,900)
> No. of metros considered in ranking: 7
[in-text-ad]
Connecticut: Bridgeport-Stamford-Norwalk
> Median monthly rental cost: $1,511 (Connecticut: $1,201)
> Share of income typically spent on rent: 32.2% (Connecticut: 30.8%)
> Rental occupied housing units: 33.3% (Connecticut: 33.9%)
> Median home value: $433,000 (Connecticut: $279,700)
> No. of metros considered in ranking: 4
Delaware: Dover
> Median monthly rental cost: $1,110 (Delaware: $1,150)
> Share of income typically spent on rent: 32.0% (Delaware: 29.7%)
> Rental occupied housing units: 31.2% (Delaware: 28.6%)
> Median home value: $226,600 (Delaware: $258,300)
> No. of metros considered in ranking: 1
*Because Dover is the only eligible metro in Delaware, it is the metro with the highest rent by default.
Florida: Miami-Fort Lauderdale-Pompano Beach
> Median monthly rental cost: $1,408 (Florida: $1,218)
> Share of income typically spent on rent: 36.8% (Florida: 33.3%)
> Rental occupied housing units: 40.2% (Florida: 33.8%)
> Median home value: $298,400 (Florida: $232,000)
> No. of metros considered in ranking: 22
[in-text-ad-2]
Georgia: Atlanta-Sandy Springs-Alpharetta
> Median monthly rental cost: $1,205 (Georgia: $1,042)
> Share of income typically spent on rent: 29.8% (Georgia: 29.6%)
> Rental occupied housing units: 35.8% (Georgia: 36.0%)
> Median home value: $233,700 (Georgia: $190,200)
> No. of metros considered in ranking: 14
Hawaii: Urban Honolulu
> Median monthly rental cost: $1,779 (Hawaii: $1,651)
> Share of income typically spent on rent: 33.4% (Hawaii: 32.5%)
> Rental occupied housing units: 42.5% (Hawaii: 39.7%)
> Median home value: $702,300 (Hawaii: $636,400)
> No. of metros considered in ranking: 2
[in-text-ad]
Idaho: Coeur d’Alene
> Median monthly rental cost: $1,037 (Idaho: $887)
> Share of income typically spent on rent: 29.3% (Idaho: 27.9%)
> Rental occupied housing units: 28.7% (Idaho: 29.2%)
> Median home value: $294,100 (Idaho: $235,600)
> No. of metros considered in ranking: 6
Illinois: Chicago-Naperville-Elgin
> Median monthly rental cost: $1,155 (Illinois: $1,038)
> Share of income typically spent on rent: 28.9% (Illinois: 28.7%)
> Rental occupied housing units: 35.2% (Illinois: 33.7%)
> Median home value: $247,400 (Illinois: $202,100)
> No. of metros considered in ranking: 10
Indiana: Columbus
> Median monthly rental cost: $940 (Indiana: $844)
> Share of income typically spent on rent: 23.5% (Indiana: 28.3%)
> Rental occupied housing units: 29.1% (Indiana: 30.5%)
> Median home value: $163,400 (Indiana: $148,900)
> No. of metros considered in ranking: 12
[in-text-ad-2]
Iowa: Iowa City
> Median monthly rental cost: $957 (Iowa: $806)
> Share of income typically spent on rent: 33.2% (Iowa: 26.7%)
> Rental occupied housing units: 40.1% (Iowa: 28.8%)
> Median home value: $228,600 (Iowa: $153,900)
> No. of metros considered in ranking: 8
Kansas: Lawrence
> Median monthly rental cost: $952 (Kansas: $863)
> Share of income typically spent on rent: 29.4% (Kansas: 27.0%)
> Rental occupied housing units: 49.3% (Kansas: 33.8%)
> Median home value: $212,400 (Kansas: $157,600)
> No. of metros considered in ranking: 4
[in-text-ad]
Kentucky: Lexington-Fayette
> Median monthly rental cost: $887 (Kentucky: $783)
> Share of income typically spent on rent: 27.8% (Kentucky: 27.1%)
> Rental occupied housing units: 40.2% (Kentucky: 32.4%)
> Median home value: $193,700 (Kentucky: $147,100)
> No. of metros considered in ranking: 5
Louisiana: New Orleans-Metairie
> Median monthly rental cost: $1,017 (Louisiana: $876)
> Share of income typically spent on rent: 33.5% (Louisiana: 32.3%)
> Rental occupied housing units: 36.3% (Louisiana: 33.4%)
> Median home value: $205,500 (Louisiana: $168,100)
> No. of metros considered in ranking: 9
Maine: Portland-South Portland
> Median monthly rental cost: $1,115 (Maine: $873)
> Share of income typically spent on rent: 28.7% (Maine: 28.6%)
> Rental occupied housing units: 27.9% (Maine: 27.1%)
> Median home value: $273,100 (Maine: $198,000)
> No. of metros considered in ranking: 3
[in-text-ad-2]
Maryland: California-Lexington Park
> Median monthly rental cost: $1,436 (Maryland: $1,415)
> Share of income typically spent on rent: 26.5% (Maryland: 29.7%)
> Rental occupied housing units: 29.7% (Maryland: 32.9%)
> Median home value: $318,500 (Maryland: $325,400)
> No. of metros considered in ranking: 5
Massachusetts: Boston-Cambridge-Newton
> Median monthly rental cost: $1,555 (Massachusetts: $1,336)
> Share of income typically spent on rent: 29.3% (Massachusetts: 29.6%)
> Rental occupied housing units: 38.3% (Massachusetts: 37.5%)
> Median home value: $461,500 (Massachusetts: $398,800)
> No. of metros considered in ranking: 5
[in-text-ad]
Michigan: Ann Arbor
> Median monthly rental cost: $1,161 (Michigan: $892)
> Share of income typically spent on rent: 30.6% (Michigan: 29.3%)
> Rental occupied housing units: 38.5% (Michigan: 28.3%)
> Median home value: $278,500 (Michigan: $162,600)
> No. of metros considered in ranking: 14
24/7 Wall St.
Minnesota: Minneapolis-St. Paul-Bloomington
> Median monthly rental cost: $1,144 (Minnesota: $1,010)
> Share of income typically spent on rent: 28.2% (Minnesota: 28.2%)
> Rental occupied housing units: 29.6% (Minnesota: 28.1%)
> Median home value: $271,600 (Minnesota: $235,700)
> No. of metros considered in ranking: 5
Mississippi: Gulfport-Biloxi
> Median monthly rental cost: $897 (Mississippi: $789)
> Share of income typically spent on rent: 30.3% (Mississippi: 29.6%)
> Rental occupied housing units: 34.0% (Mississippi: 31.2%)
> Median home value: $153,600 (Mississippi: $125,500)
> No. of metros considered in ranking: 3
[in-text-ad-2]
Missouri: Kansas City
> Median monthly rental cost: $989 (Missouri: $843)
> Share of income typically spent on rent: 27.4% (Missouri: 27.6%)
> Rental occupied housing units: 34.8% (Missouri: 32.9%)
> Median home value: $196,000 (Missouri: $163,600)
> No. of metros considered in ranking: 8
Montana: Missoula
> Median monthly rental cost: $908 (Montana: $836)
> Share of income typically spent on rent: 29.3% (Montana: 27.7%)
> Rental occupied housing units: 41.4% (Montana: 31.5%)
> Median home value: $302,200 (Montana: $244,900)
> No. of metros considered in ranking: 3
[in-text-ad]
Nebraska: Omaha-Council Bluffs
> Median monthly rental cost: $952 (Nebraska: $857)
> Share of income typically spent on rent: 27.4% (Nebraska: 26.3%)
> Rental occupied housing units: 34.2% (Nebraska: 33.8%)
> Median home value: $181,200 (Nebraska: $164,000)
> No. of metros considered in ranking: 3
Nevada: Las Vegas-Henderson-Paradise
> Median monthly rental cost: $1,181 (Nevada: $1,159)
> Share of income typically spent on rent: 30.9% (Nevada: 30.0%)
> Rental occupied housing units: 45.2% (Nevada: 42.9%)
> Median home value: $285,100 (Nevada: $290,200)
> No. of metros considered in ranking: 3
New Hampshire: Manchester-Nashua
> Median monthly rental cost: $1,217 (New Hampshire: $1,145)
> Share of income typically spent on rent: 29.2% (New Hampshire: 28.6%)
> Rental occupied housing units: 34.3% (New Hampshire: 28.8%)
> Median home value: $287,900 (New Hampshire: $272,300)
> No. of metros considered in ranking: 1
*Because Manchester-Nashua is the only eligible metro in New Hampshire, it is the metro with the highest rent by default.
[in-text-ad-2]
New Jersey: Trenton-Princeton
> Median monthly rental cost: $1,311 (New Jersey: $1,368)
> Share of income typically spent on rent: 30.6% (New Jersey: 30.3%)
> Rental occupied housing units: 36.5% (New Jersey: 36.0%)
> Median home value: $290,100 (New Jersey: $343,500)
> No. of metros considered in ranking: 4
New Mexico: Santa Fe
> Median monthly rental cost: $1,092 (New Mexico: $857)
> Share of income typically spent on rent: 27.9% (New Mexico: 29.3%)
> Rental occupied housing units: 28.8% (New Mexico: 32.0%)
> Median home value: $294,800 (New Mexico: $175,700)
> No. of metros considered in ranking: 4
[in-text-ad]
New York: New York-Newark-Jersey City
> Median monthly rental cost: $1,483 (New York: $1,315)
> Share of income typically spent on rent: 31.0% (New York: 30.8%)
> Rental occupied housing units: 48.4% (New York: 45.9%)
> Median home value: $465,400 (New York: $325,000)
> No. of metros considered in ranking: 13
24/7 Wall St.
North Carolina: Raleigh-Cary
> Median monthly rental cost: $1,162 (North Carolina: $932)
> Share of income typically spent on rent: 27.5% (North Carolina: 28.6%)
> Rental occupied housing units: 34.2% (North Carolina: 34.3%)
> Median home value: $268,900 (North Carolina: $182,100)
> No. of metros considered in ranking: 15
North Dakota: Bismarck
> Median monthly rental cost: $877 (North Dakota: $828)
> Share of income typically spent on rent: 24.9% (North Dakota: 24.4%)
> Rental occupied housing units: 29.6% (North Dakota: 37.5%)
> Median home value: $254,900 (North Dakota: $199,900)
> No. of metros considered in ranking: 3
[in-text-ad-2]
Ohio: Columbus
> Median monthly rental cost: $981 (Ohio: $825)
> Share of income typically spent on rent: 26.9% (Ohio: 27.5%)
> Rental occupied housing units: 38.2% (Ohio: 33.7%)
> Median home value: $195,900 (Ohio: $151,400)
> No. of metros considered in ranking: 11
Oklahoma: Oklahoma City
> Median monthly rental cost: $887 (Oklahoma: $818)
> Share of income typically spent on rent: 27.6% (Oklahoma: 27.2%)
> Rental occupied housing units: 35.6% (Oklahoma: 33.9%)
> Median home value: $162,600 (Oklahoma: $142,400)
> No. of metros considered in ranking: 4
[in-text-ad]
Oregon: Portland-Vancouver-Hillsboro
> Median monthly rental cost: $1,345 (Oregon: $1,173)
> Share of income typically spent on rent: 29.9% (Oregon: 30.3%)
> Rental occupied housing units: 37.7% (Oregon: 37.2%)
> Median home value: $392,000 (Oregon: $336,700)
> No. of metros considered in ranking: 8
Pennsylvania: Philadelphia-Camden-Wilmington
> Median monthly rental cost: $1,172 (Pennsylvania: $958)
> Share of income typically spent on rent: 30.0% (Pennsylvania: 28.6%)
> Rental occupied housing units: 32.8% (Pennsylvania: 31.0%)
> Median home value: $259,500 (Pennsylvania: $187,500)
> No. of metros considered in ranking: 18
Rhode Island: Providence-Warwick
> Median monthly rental cost: $993 (Rhode Island: $1,031)
> Share of income typically spent on rent: 28.9% (Rhode Island: 29.0%)
> Rental occupied housing units: 38.0% (Rhode Island: 38.4%)
> Median home value: $290,500 (Rhode Island: $276,600)
> No. of metros considered in ranking: 1
*Because Providence-Warwick is the only eligible metro in Rhode Island, it is the metro with the highest rent by default.
[in-text-ad-2]
South Carolina: Hilton Head Island-Bluffton
> Median monthly rental cost: $1,203 (South Carolina: $918)
> Share of income typically spent on rent: 31.1% (South Carolina: 29.7%)
> Rental occupied housing units: 25.4% (South Carolina: 29.9%)
> Median home value: $295,000 (South Carolina: $170,100)
> No. of metros considered in ranking: 8
South Dakota: Rapid City
> Median monthly rental cost: $870 (South Dakota: $761)
> Share of income typically spent on rent: 28.3% (South Dakota: 25.2%)
> Rental occupied housing units: 30.0% (South Dakota: 32.0%)
> Median home value: $199,100 (South Dakota: $174,600)
> No. of metros considered in ranking: 2
[in-text-ad]
Tennessee: Nashville-Davidson-Murfreesboro-Franklin
> Median monthly rental cost: $1,135 (Tennessee: $897)
> Share of income typically spent on rent: 28.8% (Tennessee: 28.8%)
> Rental occupied housing units: 34.4% (Tennessee: 33.5%)
> Median home value: $262,900 (Tennessee: $177,600)
> No. of metros considered in ranking: 10
Texas: Austin-Round Rock-Georgetown
> Median monthly rental cost: $1,326 (Texas: $1,082)
> Share of income typically spent on rent: 28.7% (Texas: 29.1%)
> Rental occupied housing units: 41.4% (Texas: 37.7%)
> Median home value: $303,300 (Texas: $187,200)
> No. of metros considered in ranking: 25
Utah: Salt Lake City
> Median monthly rental cost: $1,171 (Utah: $1,090)
> Share of income typically spent on rent: 28.0% (Utah: 27.8%)
> Rental occupied housing units: 31.8% (Utah: 29.5%)
> Median home value: $329,200 (Utah: $305,400)
> No. of metros considered in ranking: 5
[in-text-ad-2]
Vermont: Burlington-South Burlington
> Median monthly rental cost: $1,248 (Vermont: $999)
> Share of income typically spent on rent: 31.7% (Vermont: 29.8%)
> Rental occupied housing units: 33.2% (Vermont: 28.7%)
> Median home value: $285,200 (Vermont: $230,900)
> No. of metros considered in ranking: 1
*Because Burlington-South Burlington is the only eligible metro in Vermont, it is the metro with the highest rent by default.
Virginia: Charlottesville
> Median monthly rental cost: $1,260 (Virginia: $1,257)
> Share of income typically spent on rent: 29.4% (Virginia: 28.8%)
> Rental occupied housing units: 36.2% (Virginia: 33.3%)
> Median home value: $304,700 (Virginia: $282,800)
> No. of metros considered in ranking: 9
[in-text-ad]
Washington: Seattle-Tacoma-Bellevue
> Median monthly rental cost: $1,589 (Washington: $1,337)
> Share of income typically spent on rent: 28.8% (Washington: 29.1%)
> Rental occupied housing units: 39.8% (Washington: 36.7%)
> Median home value: $471,900 (Washington: $366,800)
> No. of metros considered in ranking: 11
West Virginia: Morgantown
> Median monthly rental cost: $831 (West Virginia: $732)
> Share of income typically spent on rent: 31.4% (West Virginia: 28.9%)
> Rental occupied housing units: 36.4% (West Virginia: 26.3%)
> Median home value: $181,600 (West Virginia: $123,200)
> No. of metros considered in ranking: 7
Wisconsin: Madison
> Median monthly rental cost: $1,080 (Wisconsin: $872)
> Share of income typically spent on rent: 27.8% (Wisconsin: 27.0%)
> Rental occupied housing units: 38.2% (Wisconsin: 32.9%)
> Median home value: $260,600 (Wisconsin: $189,200)
> No. of metros considered in ranking: 12
[in-text-ad-2]
Wyoming: Cheyenne
> Median monthly rental cost: $933 (Wyoming: $853)
> Share of income typically spent on rent: 27.4% (Wyoming: 26.3%)
> Rental occupied housing units: 27.4% (Wyoming: 29.0%)
> Median home value: $239,900 (Wyoming: $228,000)
> No. of metros considered in ranking: 2
Methodology
To determine the metro with the highest rent in every state, 24/7 Wall St. reviewed five-year estimates of median gross rent from the U.S. Census Bureau’s 2020 American Community Survey.
We used the 384 metropolitan statistical areas as delineated by the United States Office of Management and Budget and used by the Census Bureau as our definition of metros.
Metros were excluded if median gross rent was not available in the 2020 ACS, if there were fewer than 500 renter-occupied housing units, or if the sampling error associated with a metro’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 metro’s median gross rent was above 15% and greater than two standard deviations above the mean CV for all metros’ median gross rents. We similarly excluded metros that had a sampling error too high for their population, using the same definition.
Metros were ranked based on the median gross rent. To break ties, we used the median gross rent as a share of household income.
Additional information on median gross rent as a share of household income, share of households occupied by renters, and median home value are also five-year estimates from the 2020 ACS. Because the Census Bureau didn’t release one-year estimates for 2020 due to data collection issues caused by the COVID-19 pandemic, all ACS data are five-year estimates.
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
