To determine the towns with the highest rent, 24/7 Wall St. reviewed five-year estimates of median gross rent 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 towns based on population thresholds — having at least 1,000 people and less than 25,000 people.
Towns were excluded if median gross rent was not available in the 2020 ACS, if there were fewer than 500 renter-occupied housing units, or if the sampling error associated with a town’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 town’s median gross rent was above 15% and greater than two standard deviations above the mean CV for all towns’ median gross rents. We similarly excluded towns that had a sampling error too high for their population, using the same definition.
Towns were ranked based on the median gross rent. To break ties, we used the median gross rent as a share of household income.
Additional information on median gross rent as a share of household income, share of households occupied by renters, and median home value are also five-year estimates from the 2020 ACS.
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