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The 5 states with the most expensive rent in America — and the 5 cheapest

The 5 states with the most expensive rent in America — and the 5 cheapest

The rent may be "too damn high" in some states, but others are quite affordable by comparison

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Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Spencer Platt / Staff (Getty Images)

It’s no secret that housing prices in the U.S. have soared for homeowners and renters alike.

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In 2023, rents were deemed unaffordable for 22.6 million households, the highest-ever recorded number, according to NerdWallet, and in many places, prices keep increasing.

But rent isn’t as burdensome in every state. WalletHub set out to find where renters spend the most and least to keep a roof over their head. It analyzed the cost of rent and utility bills across all 50 states to create its list.

“In some states, housing costs can take up around 50% of the median income,” said WalletHub analyst Chip Lupo.

Continue reading to see where people are shelling out the most and least on rent, and the average share of their monthly income they spend to pay rent each month.

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5th Most Expensive: Maine

5th Most Expensive: Maine

Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Joe Raedle / Staff (Getty Images)

Maine renters spend an average of 41.78% of their monthly household income on housing.

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4th Most Expensive: Florida

4th Most Expensive: Florida

Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Joe Raedle / Staff (Getty Images)

Florida renters spend an average of 42.64% of their monthly household income on housing.

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3rd Most Expensive: Massachusetts

3rd Most Expensive: Massachusetts

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Photo: Maddie Meyer / Staff (Getty Images)

Massachusetts renters spend an average of 48.78% of their monthly household income on housing.

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2nd Most Expensive: Hawaii

2nd Most Expensive: Hawaii

Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Mario Tama / Staff (Getty Images)

Hawaii renters spend an average of 52.88% of their monthly household income on housing.

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Most Expensive: New York

Most Expensive: New York

Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Spencer Platt / Staff (Getty Images)

New York renters spend an average of 54.52% of their monthly household income on housing.

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5th Cheapest: Oklahoma

5th Cheapest: Oklahoma

Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Brandon Bell / Staff (Getty Images)

Oklahoma renters spend an average of 21.63% of their monthly household income on housing.

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4th Cheapest: Minnesota

4th Cheapest: Minnesota

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Photo: Scott Olson / Staff (Getty Images)

Minnesota renters spend an average of 21.11% of their monthly household income on housing.

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3rd Cheapest: Wyoming

3rd Cheapest: Wyoming

Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Spencer Platt / Staff (Getty Images)

Wyoming renters spend an average of 19.64% of their monthly household income on housing.

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2nd Cheapest: Iowa

2nd Cheapest: Iowa

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Photo: Scott Olson / Staff (Getty Images)

Iowa renters spend an average of 19.32% of their monthly household income on housing.

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Cheapest: Kansas

Cheapest: Kansas

Image for article titled The 5 states with the most expensive rent in America — and the 5 cheapest
Photo: Brian Davidson / Stringer (Getty Images)

Kansas renters spend an average of 19.11% of their monthly household income on housing.

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