U.S. home sales skyrocketed during the COVID-19 pandemic – hitting a 15-year high of 6.1 million in 2021. The spike in demand, coupled with declining inventory, have put upward pressure on housing prices. Renters have not been spared, as housing has become one of the key drivers of surging U.S. inflation.
According to the Economic Policy Institute, a nonprofit think tank, a single adult can expect to pay an estimated $11,026 on housing in 2022. This amount varies across the country, however, and in many major metropolitan areas, Americans are paying thousands more than the estimated national average.
Using data from the EPI’s Family Budget Calculator, 24/7 Wall St. identified the 50 metro areas with the highest housing costs. Metro areas are ranked on 2022 estimates of housing and utility costs for a modest studio apartment.
Among the metro areas on this list, housing costs for a single adult range from about $11,700 to over $28,000. The largest share of metro areas on this list are in the West, including 13 in California alone. Higher housing costs in these places are often a reflection of what residents can afford. Most metro areas on this list have a higher median household income than the national average of $64,994. Here is a look at the income needed to be middle class in each state.
Home values also tend to be higher in areas with high housing costs, making homeownership prohibitively expensive for larger shares of the population. This may help explain why homeownership rates are lower than the 64.4% national rate in the majority of the metro areas on this list. Here is a look at the mortgage rate in America every year since 1972.
Click here to see metros where single people pay the most for housing
Click here to see our detailed methodology
50. Bremerton-Silverdale-Port Orchard, WA
> Est. annual housing costs: $11,712
> Median household income: $78,969 — 27th highest of 376 metros
> Homeownership rate: 68.1% — 144th highest of 376 metros
> Median home value: $362,700 — 30th highest of 376 metros
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49. Crestview-Fort Walton Beach-Destin, FL
> Est. annual housing costs: $11,724
> Median household income: $65,075 — 103rd highest of 376 metros
> Homeownership rate: 68.6% — 129th highest of 376 metros
> Median home value: $236,800 — 109th highest of 376 metros
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48. Ithaca, NY
> Est. annual housing costs: $11,760
> Median household income: $61,361 — 152nd highest of 376 metros
> Homeownership rate: 54.0% — 14th lowest of 376 metros
> Median home value: $218,700 — 130th highest of 376 metros (tied)
47. Charlotte-Concord-Gastonia, NC-SC
> Est. annual housing costs: $11,844
> Median household income: $65,725 — 97th highest of 376 metros (tied)
> Homeownership rate: 66.0% — 170th lowest of 376 metros
> Median home value: $216,700 — 134th highest of 376 metros
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46. Tampa-St. Petersburg-Clearwater, FL
> Est. annual housing costs: $11,868
> Median household income: $57,097 — 162nd lowest of 376 metros
> Homeownership rate: 65.8% — 164th lowest of 376 metros
> Median home value: $210,900 — 141st highest of 376 metros
45. Richmond, VA
> Est. annual housing costs: $11,916
> Median household income: $71,223 — 60th highest of 376 metros
> Homeownership rate: 66.6% — 186th lowest of 376 metros
> Median home value: $247,500 — 91st highest of 376 metros
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44. Nashville-Davidson–Murfreesboro–Franklin, TN
> Est. annual housing costs: $11,976
> Median household income: $68,406 — 81st highest of 376 metros
> Homeownership rate: 65.6% — 155th lowest of 376 metros
> Median home value: $262,900 — 80th highest of 376 metros
43. Charleston-North Charleston, SC
> Est. annual housing costs: $12,000
> Median household income: $65,894 — 96th highest of 376 metros
> Homeownership rate: 66.8% — 187th highest of 376 metros
> Median home value: $249,800 — 90th highest of 376 metros
42. Fort Collins, CO
> Est. annual housing costs: $12,048
> Median household income: $76,366 — 41st highest of 376 metros
> Homeownership rate: 66.3% — 179th lowest of 376 metros
> Median home value: $390,600 — 25th highest of 376 metros
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41. Chicago-Naperville-Elgin, IL-IN-WI
> Est. annual housing costs: $12,144
> Median household income: $74,621 — 49th highest of 376 metros
> Homeownership rate: 64.8% — 134th lowest of 376 metros
> Median home value: $247,400 — 92nd highest of 376 metros
40. Raleigh-Cary, NC
> Est. annual housing costs: $12,156
> Median household income: $78,706 — 29th highest of 376 metros
> Homeownership rate: 65.8% — 161st lowest of 376 metros
> Median home value: $268,900 — 75th highest of 376 metros
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39. Trenton-Princeton, NJ
> Est. annual housing costs: $12,180
> Median household income: $83,306 — 17th highest of 376 metros
> Homeownership rate: 63.5% — 107th lowest of 376 metros
> Median home value: $290,100 — 58th highest of 376 metros
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38. Atlanta-Sandy Springs-Alpharetta, GA
> Est. annual housing costs: $12,192
> Median household income: $71,193 — 61st highest of 376 metros
> Homeownership rate: 64.2% — 121st lowest of 376 metros
> Median home value: $233,700 — 113th highest of 376 metros
37. Olympia-Lacey-Tumwater, WA
> Est. annual housing costs: $12,252
> Median household income: $75,867 — 42nd highest of 376 metros
> Homeownership rate: 66.0% — 171st lowest of 376 metros
> Median home value: $315,600 — 39th highest of 376 metros
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36. Flagstaff, AZ
> Est. annual housing costs: $12,312
> Median household income: $59,000 — 188th highest of 376 metros
> Homeownership rate: 60.8% — 68th lowest of 376 metros
> Median home value: $299,100 — 52nd highest of 376 metros
35. Ann Arbor, MI
> Est. annual housing costs: $12,348
> Median household income: $75,730 — 44th highest of 376 metros
> Homeownership rate: 61.5% — 73rd lowest of 376 metros
> Median home value: $278,500 — 68th highest of 376 metros
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34. Dallas-Fort Worth-Arlington, TX
> Est. annual housing costs: $12,348
> Median household income: $72,882 — 54th highest of 376 metros
> Homeownership rate: 59.7% — 52nd lowest of 376 metros
> Median home value: $236,200 — 110th highest of 376 metros (tied)
33. New Haven-Milford, CT
> Est. annual housing costs: $12,660
> Median household income: $71,370 — 59th highest of 376 metros
> Homeownership rate: 62.1% — 81st lowest of 376 metros
> Median home value: $252,300 — 89th highest of 376 metros
32. Orlando-Kissimmee-Sanford, FL
> Est. annual housing costs: $12,660
> Median household income: $61,229 — 154th highest of 376 metros
> Homeownership rate: 61.9% — 78th lowest of 376 metros
> Median home value: $242,100 — 103rd highest of 376 metros
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31. Miami-Fort Lauderdale-Pompano Beach, FL
> Est. annual housing costs: $12,684
> Median household income: $59,030 — 187th highest of 376 metros
> Homeownership rate: 59.8% — 57th lowest of 376 metros
> Median home value: $298,400 — 53rd highest of 376 metros
30. Austin-Round Rock-Georgetown, TX
> Est. annual housing costs: $12,708
> Median household income: $80,852 — 26th highest of 376 metros
> Homeownership rate: 58.6% — 42nd lowest of 376 metros
> Median home value: $303,300 — 46th highest of 376 metros
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29. Sacramento-Roseville-Folsom, CA
> Est. annual housing costs: $12,720
> Median household income: $75,533 — 46th highest of 376 metros
> Homeownership rate: 61.2% — 70th lowest of 376 metros
> Median home value: $412,400 — 22nd highest of 376 metros
28. Worcester, MA-CT
> Est. annual housing costs: $12,756
> Median household income: $75,705 — 45th highest of 376 metros
> Homeownership rate: 66.0% — 168th lowest of 376 metros
> Median home value: $283,600 — 65th highest of 376 metros
27. Portland-South Portland, ME
> Est. annual housing costs: $13,056
> Median household income: $72,552 — 56th highest of 376 metros
> Homeownership rate: 72.1% — 50th highest of 376 metros
> Median home value: $273,100 — 71st highest of 376 metros
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26. Poughkeepsie-Newburgh-Middletown, NY
> Est. annual housing costs: $13,056
> Median household income: $81,331 — 25th highest of 376 metros
> Homeownership rate: 68.0% — 148th highest of 376 metros
> Median home value: $284,300 — 64th highest of 376 metros
25. Burlington-South Burlington, VT
> Est. annual housing costs: $13,092
> Median household income: $73,447 — 52nd highest of 376 metros
> Homeownership rate: 66.8% — 186th highest of 376 metros
> Median home value: $285,200 — 61st highest of 376 metros
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24. Asheville, NC
> Est. annual housing costs: $13,152
> Median household income: $54,992 — 135th lowest of 376 metros
> Homeownership rate: 68.0% — 147th highest of 376 metros
> Median home value: $232,400 — 114th highest of 376 metros
23. Barnstable Town, MA
> Est. annual housing costs: $13,200
> Median household income: $76,863 — 37th highest of 376 metros
> Homeownership rate: 79.6% — 6th highest of 376 metros
> Median home value: $414,000 — 21st highest of 376 metros
22. Midland, TX
> Est. annual housing costs: $13,452
> Median household income: $82,768 — 21st highest of 376 metros
> Homeownership rate: 66.8% — 188th highest of 376 metros
> Median home value: $231,100 — 115th highest of 376 metros
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21. San Luis Obispo-Paso Robles, CA
> Est. annual housing costs: $13,992
> Median household income: $77,948 — 32nd highest of 376 metros
> Homeownership rate: 62.7% — 94th lowest of 376 metros
> Median home value: $605,200 — 11th highest of 376 metros
20. Denver-Aurora-Lakewood, CO
> Est. annual housing costs: $14,148
> Median household income: $83,289 — 18th highest of 376 metros
> Homeownership rate: 64.8% — 133rd lowest of 376 metros
> Median home value: $411,800 — 23rd highest of 376 metros
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19. Vallejo, CA
> Est. annual housing costs: $14,280
> Median household income: $84,638 — 14th highest of 376 metros
> Homeownership rate: 62.1% — 80th lowest of 376 metros
> Median home value: $437,900 — 18th highest of 376 metros
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18. Portland-Vancouver-Hillsboro, OR-WA
> Est. annual housing costs: $14,940
> Median household income: $77,511 — 33rd highest of 376 metros
> Homeownership rate: 62.3% — 83rd lowest of 376 metros
> Median home value: $392,000 — 24th highest of 376 metros
17. Oxnard-Thousand Oaks-Ventura, CA
> Est. annual housing costs: $15,228
> Median household income: $89,295 — 10th highest of 376 metros
> Homeownership rate: 63.3% — 103rd lowest of 376 metros
> Median home value: $609,200 — 10th highest of 376 metros
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16. Boulder, CO
> Est. annual housing costs: $15,348
> Median household income: $87,476 — 12th highest of 376 metros
> Homeownership rate: 63.6% — 111th lowest of 376 metros
> Median home value: $539,100 — 14th highest of 376 metros
15. Kahului-Wailuku-Lahaina, HI
> Est. annual housing costs: $15,852
> Median household income: $84,363 — 15th highest of 376 metros
> Homeownership rate: 62.5% — 91st lowest of 376 metros
> Median home value: $657,400 — 6th highest of 376 metros
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14. Napa, CA
> Est. annual housing costs: $15,972
> Median household income: $92,219 — 7th highest of 376 metros
> Homeownership rate: 64.8% — 135th lowest of 376 metros
> Median home value: $666,900 — 5th highest of 376 metros
13. Santa Rosa-Petaluma, CA
> Est. annual housing costs: $16,080
> Median household income: $86,173 — 13th highest of 376 metros
> Homeownership rate: 61.3% — 71st lowest of 376 metros
> Median home value: $640,000 — 8th highest of 376 metros
12. Salinas, CA
> Est. annual housing costs: $16,176
> Median household income: $76,943 — 35th highest of 376 metros
> Homeownership rate: 51.8% — 7th lowest of 376 metros
> Median home value: $559,400 — 13th highest of 376 metros
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11. Los Angeles-Long Beach-Anaheim, CA
> Est. annual housing costs: $16,428
> Median household income: $76,399 — 40th highest of 376 metros
> Homeownership rate: 48.7% — the lowest of 376 metros
> Median home value: $641,300 — 7th highest of 376 metros
10. Urban Honolulu, HI
> Est. annual housing costs: $17,196
> Median household income: $87,722 — 11th highest of 376 metros
> Homeownership rate: 57.5% — 33rd lowest of 376 metros
> Median home value: $702,300 — 4th highest of 376 metros
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9. San Diego-Chula Vista-Carlsbad, CA
> Est. annual housing costs: $17,736
> Median household income: $82,426 — 22nd highest of 376 metros
> Homeownership rate: 53.9% — 13th lowest of 376 metros
> Median home value: $595,600 — 12th highest of 376 metros
8. Washington-Arlington-Alexandria, DC-VA-MD-WV
> Est. annual housing costs: $18,156
> Median household income: $106,415 — 3rd highest of 376 metros
> Homeownership rate: 63.9% — 118th lowest of 376 metros
> Median home value: $436,600 — 19th highest of 376 metros
7. Seattle-Tacoma-Bellevue, WA
> Est. annual housing costs: $18,276
> Median household income: $90,790 — 8th highest of 376 metros
> Homeownership rate: 60.2% — 63rd lowest of 376 metros
> Median home value: $471,900 — 15th highest of 376 metros
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6. Santa Maria-Santa Barbara, CA
> Est. annual housing costs: $20,736
> Median household income: $78,925 — 28th highest of 376 metros
> Homeownership rate: 52.3% — 9th lowest of 376 metros
> Median home value: $610,300 — 9th highest of 376 metros
5. Boston-Cambridge-Newton, MA-NH
> Est. annual housing costs: $20,904
> Median household income: $93,537 — 6th highest of 376 metros
> Homeownership rate: 61.7% — 75th lowest of 376 metros
> Median home value: $461,500 — 17th highest of 376 metros
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4. New York-Newark-Jersey City, NY-NJ-PA
> Est. annual housing costs: $21,120
> Median household income: $81,951 — 24th highest of 376 metros
> Homeownership rate: 51.6% — 6th lowest of 376 metros
> Median home value: $465,400 — 16th highest of 376 metros
3. Santa Cruz-Watsonville, CA
> Est. annual housing costs: $23,916
> Median household income: $89,986 — 9th highest of 376 metros
> Homeownership rate: 60.3% — 66th lowest of 376 metros
> Median home value: $787,000 — 3rd highest of 376 metros
2. San Jose-Sunnyvale-Santa Clara, CA
> Est. annual housing costs: $26,736
> Median household income: $129,343 — the highest of 376 metros
> Homeownership rate: 56.6% — 29th lowest of 376 metros
> Median home value: $1,041,800 — the highest of 376 metros
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1. San Francisco-Oakland-Berkeley, CA
> Est. annual housing costs: $28,200
> Median household income: $110,837 — 2nd highest of 376 metros
> Homeownership rate: 55.0% — 19th lowest of 376 metros
> Median home value: $888,500 — 2nd highest of 376 metros
Methodology
To determine the metros where single people pay the most for housing, 24/7 Wall St. reviewed data from the Economic Policy Institute’s 2022 Family Budget Calculator.
In the Family Budget Calculator, the EPI estimates the housing costs for families to maintain a modest yet adequate standard of living. The budgets are created for 10 family types for U.S. counties and metro areas. We used estimates for a single person with no children. For this family type, the EPI assumes the single person is employed and files federal income taxes as the head of household.
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 ranked based on the EPI’s annual housing cost estimates. Ties were broken using five-year estimates of median gross rent from the U.S. Census Bureau’s 2020 American Community Survey.
Additional information on median household income, homeownership rate, and median home value are from the U.S. Census Bureau’s 2020 American Community Survey. Because the Census Bureau did not release one-year estimates for 2020 due to data collection issues caused by the COVID-19 pandemic, all ACS data are five-year estimates.
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