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

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

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.

5th Most Expensive: Maine

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

4th Most Expensive: Florida

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

3rd Most Expensive: Massachusetts

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

2nd Most Expensive: Hawaii

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

Most Expensive: New York

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

5th Cheapest: Oklahoma

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

4th Cheapest: Minnesota

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

3rd Cheapest: Wyoming

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

2nd Cheapest: Iowa

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

Cheapest: Kansas

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