Special Report

States With the Highest Rent

Source: DenisTangneyJr / iStock via Getty Images

35. New Mexico
> Median monthly rental cost: $857
> Share of income typically spent on rent: 29.3% (18th highest — tied)
> Rental occupied housing units: 32.0% (18th lowest)
> Median home value: $175,700 (17th lowest)

Source: BergmannD / iStock via Getty Images

34. Kansas
> Median monthly rental cost: $863
> Share of income typically spent on rent: 27.0% (6th lowest — tied)
> Rental occupied housing units: 33.8% (22nd highest)
> Median home value: $157,600 (10th lowest)

Source: marchello74 / iStock via Getty Images

33. Wisconsin
> Median monthly rental cost: $872
> Share of income typically spent on rent: 27.0% (6th lowest — tied)
> Rental occupied housing units: 32.9% (21st lowest)
> Median home value: $189,200 (22nd lowest)

Source: David Montgomery / iStock via Getty Images

32. Maine
> Median monthly rental cost: $873
> Share of income typically spent on rent: 28.6% (19th lowest — tied)
> Rental occupied housing units: 27.1% (2nd lowest)
> Median home value: $198,000 (24th lowest)

Source: felixmizioznikov / iStock via Getty Images

31. Louisiana
> Median monthly rental cost: $876
> Share of income typically spent on rent: 32.3% (3rd highest)
> Rental occupied housing units: 33.4% (25th lowest)
> Median home value: $168,100 (14th lowest)

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.