Special Report

The Big City With the Highest Rent in Every State

Source: Sean Pavone / iStock via Getty Images

Massachusetts: Boston-Cambridge-Newton
> Median monthly rental cost: $1,555 (Massachusetts: $1,336)
> Share of income typically spent on rent: 29.3% (Massachusetts: 29.6%)
> Rental occupied housing units: 38.3% (Massachusetts: 37.5%)
> Median home value: $461,500 (Massachusetts: $398,800)
> No. of metros considered in ranking: 5

Source: Davel5957 / iStock Unreleased via Getty Images

Michigan: Ann Arbor
> Median monthly rental cost: $1,161 (Michigan: $892)
> Share of income typically spent on rent: 30.6% (Michigan: 29.3%)
> Rental occupied housing units: 38.5% (Michigan: 28.3%)
> Median home value: $278,500 (Michigan: $162,600)
> No. of metros considered in ranking: 14

Source: MattGush / iStock via Getty Images

Minnesota: Minneapolis-St. Paul-Bloomington
> Median monthly rental cost: $1,144 (Minnesota: $1,010)
> Share of income typically spent on rent: 28.2% (Minnesota: 28.2%)
> Rental occupied housing units: 29.6% (Minnesota: 28.1%)
> Median home value: $271,600 (Minnesota: $235,700)
> No. of metros considered in ranking: 5

Source: dszc / iStock via Getty Images

Mississippi: Gulfport-Biloxi
> Median monthly rental cost: $897 (Mississippi: $789)
> Share of income typically spent on rent: 30.3% (Mississippi: 29.6%)
> Rental occupied housing units: 34.0% (Mississippi: 31.2%)
> Median home value: $153,600 (Mississippi: $125,500)
> No. of metros considered in ranking: 3

Source: TriggerPhoto / iStock via Getty Images

Missouri: Kansas City
> Median monthly rental cost: $989 (Missouri: $843)
> Share of income typically spent on rent: 27.4% (Missouri: 27.6%)
> Rental occupied housing units: 34.8% (Missouri: 32.9%)
> Median home value: $196,000 (Missouri: $163,600)
> No. of metros considered in ranking: 8

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.