For the first time in the nation’s history, median monthly rents in the United States crossed the $2,000 mark. According to a report from real estate listing site Redfin, the median rent on all apartments listed nationwide rose 15% compared to a year ago. For those millions of Americans who do not have the stability afforded to them through homeownership, rising rent will take a serious financial toll.
Nationwide, 35.6% of housing units are occupied by renters. In every state, there is at least one city with a higher rental rate.
To determine the city with the highest rental rate in every state, 24/7 Wall St. reviewed five-year estimates of the share of housing units that are occupied by renters in U.S. cities from the U.S. Census Bureau’s 2020 American Community Survey. Cities are defined as having populations of at least 25,000.
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 cities on this list have such high shares of renters because they have younger populations.
According to the census, 23.2% of Americans are 18-34 years old. In all but one of the cities on this list, that age group accounts for a larger share of the population compared to the national value and the respective state figure. In State College, Pennsylvania, which has the highest rental rate among Pennsylvania cities, an estimated 73.0% of the population are younger adults. State College is home to the main campus of Penn State University. A number of other cities on this list are home to college campuses. This is the youngest county in every state.
Population density is also/another a factor in the share of housing units that are rentals. In highly-urban areas, a large share of residents live in multi-story rental buildings, rather than single-family homes. The U.S. population density is 93.8 people per square mile. The vast majority of cities on this list have higher population densities relative to their home state, and all but two have population densities in excess of 1,000 people per square mile. West Hollywood, California, which has the highest rental rate in the state and the third-highest in the country, has a population density of 18,939 per square mile. These are the 50 largest cities in America.
Click here to see the city with the highest rental rate in every state.
Click here to see our detailed methodology.
Alabama: Birmingham
> Rental occupied housing units: 54.1% (Alabama: 30.8%)
> Median rental cost: $870 (Alabama: $811)
> Median home value: $97,500 (Alabama: $149,600)
> Median household income: $38,832 (Alabama: $52,035)
> No. of cities considered in ranking: 23
[in-text-ad]
Alaska: Fairbanks
> Rental occupied housing units: 62.2% (Alaska: 35.2%)
> Median rental cost: $1,327 (Alaska: $1,240)
> Median home value: $217,700 (Alaska: $275,600)
> Median household income: $64,397 (Alaska: $77,790)
> No. of cities considered in ranking: 3
Arizona: Tempe
> Rental occupied housing units: 59.7% (Arizona: 34.7%)
> Median rental cost: $1,230 (Arizona: $1,097)
> Median home value: $287,600 (Arizona: $242,000)
> Median household income: $61,290 (Arizona: $61,529)
> No. of cities considered in ranking: 39
Arkansas: Fayetteville
> Rental occupied housing units: 62.1% (Arkansas: 34.2%)
> Median rental cost: $837 (Arkansas: $760)
> Median home value: $232,100 (Arkansas: $133,600)
> Median household income: $47,350 (Arkansas: $49,475)
> No. of cities considered in ranking: 19
[in-text-ad-2]
California: West Hollywood
> Rental occupied housing units: 80.2% (California: 44.7%)
> Median rental cost: $1,744 (California: $1,586)
> Median home value: $743,700 (California: $538,500)
> Median household income: $71,692 (California: $78,672)
> No. of cities considered in ranking: 301
Colorado: Englewood
> Rental occupied housing units: 51.9% (Colorado: 33.8%)
> Median rental cost: $1,224 (Colorado: $1,335)
> Median home value: $379,300 (Colorado: $369,900)
> Median household income: $66,399 (Colorado: $75,231)
> No. of cities considered in ranking: 33
[in-text-ad]
Connecticut: Hartford
> Rental occupied housing units: 75.1% (Connecticut: 33.9%)
> Median rental cost: $1,004 (Connecticut: $1,201)
> Median home value: $170,200 (Connecticut: $279,700)
> Median household income: $36,154 (Connecticut: $79,855)
> No. of cities considered in ranking: 24
24/7 Wall St.
Delaware: Wilmington
> Rental occupied housing units: 56.2% (Delaware: 28.6%)
> Median rental cost: $1,030 (Delaware: $1,150)
> Median home value: $173,500 (Delaware: $258,300)
> Median household income: $45,139 (Delaware: $69,110)
> No. of cities considered in ranking: 3
Florida: University (Hillsborough County)
> Rental occupied housing units: 87.5% (Florida: 33.8%)
> Median rental cost: $940 (Florida: $1,218)
> Median home value: $91,900 (Florida: $232,000)
> Median household income: $29,380 (Florida: $57,703)
> No. of cities considered in ranking: 154
[in-text-ad-2]
Georgia: Statesboro
> Rental occupied housing units: 75.4% (Georgia: 36.0%)
> Median rental cost: $776 (Georgia: $1,042)
> Median home value: $115,100 (Georgia: $190,200)
> Median household income: $32,790 (Georgia: $61,224)
> No. of cities considered in ranking: 45
Hawaii: Urban Honolulu
> Rental occupied housing units: 53.7% (Hawaii: 39.7%)
> Median rental cost: $1,520 (Hawaii: $1,651)
> Median home value: $707,400 (Hawaii: $636,400)
> Median household income: $72,454 (Hawaii: $83,173)
> No. of cities considered in ranking: 10
[in-text-ad]
Idaho: Rexburg
> Rental occupied housing units: 70.1% (Idaho: 29.2%)
> Median rental cost: $765 (Idaho: $887)
> Median home value: $221,700 (Idaho: $235,600)
> Median household income: $33,278 (Idaho: $58,915)
> No. of cities considered in ranking: 13
Illinois: Carbondale
> Rental occupied housing units: 71.3% (Illinois: 33.7%)
> Median rental cost: $698 (Illinois: $1,038)
> Median home value: $122,700 (Illinois: $202,100)
> Median household income: $24,093 (Illinois: $68,428)
> No. of cities considered in ranking: 89
Indiana: West Lafayette
> Rental occupied housing units: 65.4% (Indiana: 30.5%)
> Median rental cost: $915 (Indiana: $844)
> Median home value: $235,300 (Indiana: $148,900)
> Median household income: $31,460 (Indiana: $58,235)
> No. of cities considered in ranking: 39
[in-text-ad-2]
Iowa: Ames
> Rental occupied housing units: 58.8% (Iowa: 28.8%)
> Median rental cost: $944 (Iowa: $806)
> Median home value: $213,500 (Iowa: $153,900)
> Median household income: $50,783 (Iowa: $61,836)
> No. of cities considered in ranking: 18
Kansas: Manhattan
> Rental occupied housing units: 60.3% (Kansas: 33.8%)
> Median rental cost: $911 (Kansas: $863)
> Median home value: $213,200 (Kansas: $157,600)
> Median household income: $50,957 (Kansas: $61,091)
> No. of cities considered in ranking: 15
[in-text-ad]
Kentucky: Richmond
> Rental occupied housing units: 61.5% (Kentucky: 32.4%)
> Median rental cost: $713 (Kentucky: $783)
> Median home value: $148,900 (Kentucky: $147,100)
> Median household income: $39,329 (Kentucky: $52,238)
> No. of cities considered in ranking: 15
24/7 Wall St.
Louisiana: Monroe
> Rental occupied housing units: 57.4% (Louisiana: 33.4%)
> Median rental cost: $711 (Louisiana: $876)
> Median home value: $150,000 (Louisiana: $168,100)
> Median household income: $31,926 (Louisiana: $50,800)
> No. of cities considered in ranking: 17
Maine: Portland
> Rental occupied housing units: 54.8% (Maine: 27.1%)
> Median rental cost: $1,204 (Maine: $873)
> Median home value: $302,700 (Maine: $198,000)
> Median household income: $61,695 (Maine: $59,489)
> No. of cities considered in ranking: 4
[in-text-ad-2]
Maryland: Salisbury
> Rental occupied housing units: 72.5% (Maryland: 32.9%)
> Median rental cost: $1,061 (Maryland: $1,415)
> Median home value: $167,800 (Maryland: $325,400)
> Median household income: $44,474 (Maryland: $87,063)
> No. of cities considered in ranking: 54
Massachusetts: Chelsea
> Rental occupied housing units: 73.1% (Massachusetts: 37.5%)
> Median rental cost: $1,474 (Massachusetts: $1,336)
> Median home value: $369,900 (Massachusetts: $398,800)
> Median household income: $60,370 (Massachusetts: $84,385)
> No. of cities considered in ranking: 64
[in-text-ad]
Michigan: East Lansing
> Rental occupied housing units: 60.5% (Michigan: 28.3%)
> Median rental cost: $969 (Michigan: $892)
> Median home value: $194,100 (Michigan: $162,600)
> Median household income: $40,800 (Michigan: $59,234)
> No. of cities considered in ranking: 44
24/7 Wall St.
Minnesota: Minneapolis
> Rental occupied housing units: 52.6% (Minnesota: 28.1%)
> Median rental cost: $1,078 (Minnesota: $1,010)
> Median home value: $268,100 (Minnesota: $235,700)
> Median household income: $66,068 (Minnesota: $73,382)
> No. of cities considered in ranking: 41
Mississippi: Hattiesburg
> Rental occupied housing units: 61.9% (Mississippi: 31.2%)
> Median rental cost: $808 (Mississippi: $789)
> Median home value: $110,500 (Mississippi: $125,500)
> Median household income: $36,111 (Mississippi: $46,511)
> No. of cities considered in ranking: 13
[in-text-ad-2]
Missouri: Springfield
> Rental occupied housing units: 57.6% (Missouri: 32.9%)
> Median rental cost: $760 (Missouri: $843)
> Median home value: $122,200 (Missouri: $163,600)
> Median household income: $37,491 (Missouri: $57,290)
> No. of cities considered in ranking: 28
Montana: Bozeman
> Rental occupied housing units: 57.4% (Montana: 31.5%)
> Median rental cost: $1,145 (Montana: $836)
> Median home value: $412,500 (Montana: $244,900)
> Median household income: $59,695 (Montana: $56,539)
> No. of cities considered in ranking: 6
[in-text-ad]
Nebraska: Fremont
> Rental occupied housing units: 44.2% (Nebraska: 33.8%)
> Median rental cost: $771 (Nebraska: $857)
> Median home value: $140,400 (Nebraska: $164,000)
> Median household income: $54,291 (Nebraska: $63,015)
> No. of cities considered in ranking: 6
Nevada: Winchester
> Rental occupied housing units: 70.3% (Nevada: 42.9%)
> Median rental cost: $919 (Nevada: $1,159)
> Median home value: $172,300 (Nevada: $290,200)
> Median household income: $39,368 (Nevada: $62,043)
> No. of cities considered in ranking: 14
New Hampshire: Manchester
> Rental occupied housing units: 55.0% (New Hampshire: 28.8%)
> Median rental cost: $1,160 (New Hampshire: $1,145)
> Median home value: $241,600 (New Hampshire: $272,300)
> Median household income: $62,087 (New Hampshire: $77,923)
> No. of cities considered in ranking: 5
[in-text-ad-2]
New Jersey: New Brunswick
> Rental occupied housing units: 80.5% (New Jersey: 36.0%)
> Median rental cost: $1,524 (New Jersey: $1,368)
> Median home value: $267,200 (New Jersey: $343,500)
> Median household income: $43,930 (New Jersey: $85,245)
> No. of cities considered in ranking: 39
New Mexico: Clovis
> Rental occupied housing units: 45.2% (New Mexico: 32.0%)
> Median rental cost: $867 (New Mexico: $857)
> Median home value: $132,300 (New Mexico: $175,700)
> Median household income: $47,794 (New Mexico: $51,243)
> No. of cities considered in ranking: 11
[in-text-ad]
New York: Ithaca
> Rental occupied housing units: 74.9% (New York: 45.9%)
> Median rental cost: $1,171 (New York: $1,315)
> Median home value: $261,900 (New York: $325,000)
> Median household income: $38,019 (New York: $71,117)
> No. of cities considered in ranking: 61
North Carolina: Jacksonville
> Rental occupied housing units: 67.0% (North Carolina: 34.3%)
> Median rental cost: $1,032 (North Carolina: $932)
> Median home value: $157,000 (North Carolina: $182,100)
> Median household income: $45,754 (North Carolina: $56,642)
> No. of cities considered in ranking: 40
North Dakota: Grand Forks
> Rental occupied housing units: 56.1% (North Dakota: 37.5%)
> Median rental cost: $817 (North Dakota: $828)
> Median home value: $209,800 (North Dakota: $199,900)
> Median household income: $50,194 (North Dakota: $65,315)
> No. of cities considered in ranking: 6
[in-text-ad-2]
Ohio: Bowling Green
> Rental occupied housing units: 63.4% (Ohio: 33.7%)
> Median rental cost: $737 (Ohio: $825)
> Median home value: $171,800 (Ohio: $151,400)
> Median household income: $39,210 (Ohio: $58,116)
> No. of cities considered in ranking: 61
Oklahoma: Stillwater
> Rental occupied housing units: 60.8% (Oklahoma: 33.9%)
> Median rental cost: $826 (Oklahoma: $818)
> Median home value: $185,300 (Oklahoma: $142,400)
> Median household income: $34,906 (Oklahoma: $53,840)
> No. of cities considered in ranking: 16
[in-text-ad]
Oregon: Corvallis
> Rental occupied housing units: 57.4% (Oregon: 37.2%)
> Median rental cost: $1,164 (Oregon: $1,173)
> Median home value: $361,800 (Oregon: $336,700)
> Median household income: $55,390 (Oregon: $65,667)
> No. of cities considered in ranking: 23
24/7 Wall St.
Pennsylvania: State College
> Rental occupied housing units: 73.1% (Pennsylvania: 31.0%)
> Median rental cost: $1,083 (Pennsylvania: $958)
> Median home value: $332,100 (Pennsylvania: $187,500)
> Median household income: $38,076 (Pennsylvania: $63,627)
> No. of cities considered in ranking: 23
Rhode Island: Woonsocket
> Rental occupied housing units: 62.8% (Rhode Island: 38.4%)
> Median rental cost: $921 (Rhode Island: $1,031)
> Median home value: $191,500 (Rhode Island: $276,600)
> Median household income: $44,310 (Rhode Island: $70,305)
> No. of cities considered in ranking: 6
[in-text-ad-2]
South Carolina: Greenville
> Rental occupied housing units: 56.9% (South Carolina: 29.9%)
> Median rental cost: $1,013 (South Carolina: $918)
> Median home value: $332,700 (South Carolina: $170,100)
> Median household income: $58,259 (South Carolina: $54,864)
> No. of cities considered in ranking: 19
South Dakota: Aberdeen
> Rental occupied housing units: 42.4% (South Dakota: 32.0%)
> Median rental cost: $669 (South Dakota: $761)
> Median home value: $169,400 (South Dakota: $174,600)
> Median household income: $56,455 (South Dakota: $59,896)
> No. of cities considered in ranking: 3
[in-text-ad]
Tennessee: Cookeville
> Rental occupied housing units: 58.2% (Tennessee: 33.5%)
> Median rental cost: $740 (Tennessee: $897)
> Median home value: $170,300 (Tennessee: $177,600)
> Median household income: $40,836 (Tennessee: $54,833)
> No. of cities considered in ranking: 28
Texas: San Marcos
> Rental occupied housing units: 70.9% (Texas: 37.7%)
> Median rental cost: $1,099 (Texas: $1,082)
> Median home value: $185,300 (Texas: $187,200)
> Median household income: $42,030 (Texas: $63,826)
> No. of cities considered in ranking: 123
Utah: Logan
> Rental occupied housing units: 61.4% (Utah: 29.5%)
> Median rental cost: $783 (Utah: $1,090)
> Median home value: $216,200 (Utah: $305,400)
> Median household income: $43,056 (Utah: $74,197)
> No. of cities considered in ranking: 36
[in-text-ad-2]
Vermont: Burlington*
> Rental occupied housing units: 62.4% (Vermont: 28.7%)
> Median rental cost: $1,279 (Vermont: $999)
> Median home value: $312,200 (Vermont: $230,900)
> Median household income: $55,461 (Vermont: $63,477)
> No. of cities considered in ranking: 1
*Because Burlington is the only eligible city in Vermont, it is the city with the highest rental rate by default.
Virginia: Blacksburg
> Rental occupied housing units: 66.3% (Virginia: 33.3%)
> Median rental cost: $1,141 (Virginia: $1,257)
> Median home value: $309,800 (Virginia: $282,800)
> Median household income: $41,711 (Virginia: $76,398)
> No. of cities considered in ranking: 43
[in-text-ad]
Washington: Pullman
> Rental occupied housing units: 71.4% (Washington: 36.7%)
> Median rental cost: $856 (Washington: $1,337)
> Median home value: $287,700 (Washington: $366,800)
> Median household income: $32,073 (Washington: $77,006)
> No. of cities considered in ranking: 47
West Virginia: Morgantown
> Rental occupied housing units: 55.6% (West Virginia: 26.3%)
> Median rental cost: $840 (West Virginia: $732)
> Median home value: $215,000 (West Virginia: $123,200)
> Median household income: $42,474 (West Virginia: $48,037)
> No. of cities considered in ranking: 5
Wisconsin: Milwaukee
> Rental occupied housing units: 59.3% (Wisconsin: 32.9%)
> Median rental cost: $866 (Wisconsin: $872)
> Median home value: $128,300 (Wisconsin: $189,200)
> Median household income: $43,125 (Wisconsin: $63,293)
> No. of cities considered in ranking: 34
[in-text-ad-2]
Wyoming: Laramie
> Rental occupied housing units: 52.9% (Wyoming: 29.0%)
> Median rental cost: $824 (Wyoming: $853)
> Median home value: $225,400 (Wyoming: $228,000)
> Median household income: $47,463 (Wyoming: $65,304)
> No. of cities considered in ranking: 4
Methodology
To determine the city with the highest rental rate in every state, 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.
We used Census “place” geographies — a category that includes incorporated legal entities and Census-designated statistical entities. We defined cities based on a population threshold –– Census places needed to have a population of at least 25,000 to be considered.
Cities 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 city’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 city’s rental rate was above 15% and greater than two standard deviations above the mean CV for all cities’ rental rates. We similarly excluded cities that had a sampling error too high for their population, using the same definition.
Cities 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. 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.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
