For the first time in the nation’s history, median monthly rents in the United States crossed the $2,000 mark. According to a report from real estate listing site Redfin, the median rent on all apartments listed nationwide rose 15% compared to a year ago. For those millions of Americans who do not have the stability afforded to them through homeownership, rising rent will take a serious financial toll.
Nationwide, 35.6% of housing units are occupied by renters. In most states, however, there is at least one metropolitan area where renting is relatively uncommon.
To determine the metro area with the lowest rental rate in every state, 24/7 Wall St. reviewed five-year estimates of the share of housing units that are occupied by renters from the U.S. Census Bureau’s 2020 American Community Survey.
Young people are far more likely to rent homes than buy. In a number of metro areas where a relatively low share of housing units are rentals, age appears to be a factor. According to the census, 23.2% of Americans are 18-34 years old. In 41 of the 50 places on this list, that demographic amounts to a smaller share of the population. In The Villages, Florida, which has the lowest rental rate in both the state and the country, 8.6% of the population is 18-34, also the lowest share in the country among metro areas. These are the states where the population has gone up since the pandemic started.
Click here to see the big city where the fewest people rent in every state.
Click here to see our detailed methodology.
Source: Kruck20 / iStock via Getty Images
Alabama: Daphne-Fairhope-Foley
> Rental occupied housing units: 23.0% (Alabama: 30.8%)
> Median rental cost: $1,032 (Alabama: $811)
> Median home value: $211,600 (Alabama: $149,600)
> Median household income: $61,756 (Alabama: $52,035)
> No. of metros considered in ranking: 12
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Source: Jacob Boomsma / iStock via Getty Images
Alaska: Anchorage
> Rental occupied housing units: 34.4% (Alaska: 35.2%)
> Median rental cost: $1,277 (Alaska: $1,240)
> Median home value: $301,100 (Alaska: $275,600)
> Median household income: $82,890 (Alaska: $77,790)
> No. of metros considered in ranking: 2
Source: Althom / iStock Editorial via Getty Images
Arizona: Prescott Valley-Prescott
> Rental occupied housing units: 27.4% (Arizona: 34.7%)
> Median rental cost: $982 (Arizona: $1,097)
> Median home value: $273,300 (Arizona: $242,000)
> Median household income: $53,329 (Arizona: $61,529)
> No. of metros considered in ranking: 7
Source: Sean Pavone / iStock via Getty Images
Arkansas: Hot Springs
> Rental occupied housing units: 32.9% (Arkansas: 34.2%)
> Median rental cost: $791 (Arkansas: $760)
> Median home value: $142,100 (Arkansas: $133,600)
> Median household income: $48,150 (Arkansas: $49,475)
> No. of metros considered in ranking: 6
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Source: garytog / iStock via Getty Images
California: Madera
> Rental occupied housing units: 34.2% (California: 44.7%)
> Median rental cost: $1,068 (California: $1,586)
> Median home value: $268,500 (California: $538,500)
> Median household income: $61,924 (California: $78,672)
> No. of metros considered in ranking: 26
Source: Public Domain / Wikimedia Commons
Colorado: Greeley
> Rental occupied housing units: 25.5% (Colorado: 33.8%)
> Median rental cost: $1,143 (Colorado: $1,335)
> Median home value: $326,100 (Colorado: $369,900)
> Median household income: $74,332 (Colorado: $75,231)
> No. of metros considered in ranking: 7
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Connecticut: Norwich-New London
> Rental occupied housing units: 32.9% (Connecticut: 33.9%)
> Median rental cost: $1,144 (Connecticut: $1,201)
> Median home value: $246,800 (Connecticut: $279,700)
> Median household income: $75,831 (Connecticut: $79,855)
> No. of metros considered in ranking: 4
Source: benkrut / iStock via Getty Images
Delaware: Dover*
> Rental occupied housing units: 31.2% (Delaware: 28.6%)
> Median rental cost: $1,110 (Delaware: $1,150)
> Median home value: $226,600 (Delaware: $258,300)
> Median household income: $60,117 (Delaware: $69,110)
> No. of metros considered in ranking: 1
*Because Dover is the only eligible metro in Delaware, it is the metro with the lowest rental rate by default.
Source: Michael Warren / iStock via Getty Images
Florida: The Villages
> Rental occupied housing units: 11.4% (Florida: 33.8%)
> Median rental cost: $935 (Florida: $1,218)
> Median home value: $267,100 (Florida: $232,000)
> Median household income: $59,618 (Florida: $57,703)
> No. of metros considered in ranking: 22
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Source: BeachcottagePhotography / iStock via Getty Images
Georgia: Brunswick
> Rental occupied housing units: 30.7% (Georgia: 36.0%)
> Median rental cost: $853 (Georgia: $1,042)
> Median home value: $167,100 (Georgia: $190,200)
> Median household income: $53,541 (Georgia: $61,224)
> No. of metros considered in ranking: 14
Source: Art Wager / E+ via Getty Images
Hawaii: Kahului-Wailuku-Lahaina
> Rental occupied housing units: 37.5% (Hawaii: 39.7%)
> Median rental cost: $1,543 (Hawaii: $1,651)
> Median home value: $657,400 (Hawaii: $636,400)
> Median household income: $84,363 (Hawaii: $83,173)
> No. of metros considered in ranking: 2
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Source: Jennifer_Sharp / iStock via Getty Images
Idaho: Lewiston
> Rental occupied housing units: 27.3% (Idaho: 29.2%)
> Median rental cost: $762 (Idaho: $887)
> Median home value: $207,200 (Idaho: $235,600)
> Median household income: $55,657 (Idaho: $58,915)
> No. of metros considered in ranking: 6
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Source: ghornephoto / iStock via Getty Images
Illinois: Peoria
> Rental occupied housing units: 27.9% (Illinois: 33.7%)
> Median rental cost: $776 (Illinois: $1,038)
> Median home value: $133,600 (Illinois: $202,100)
> Median household income: $60,094 (Illinois: $68,428)
> No. of metros considered in ranking: 10
Indiana: Michigan City-La Porte
> Rental occupied housing units: 26.7% (Indiana: 30.5%)
> Median rental cost: $763 (Indiana: $844)
> Median home value: $139,900 (Indiana: $148,900)
> Median household income: $57,010 (Indiana: $58,235)
> No. of metros considered in ranking: 12
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Source: ChrisBoswell / iStock via Getty Images
Iowa: Cedar Rapids
> Rental occupied housing units: 24.7% (Iowa: 28.8%)
> Median rental cost: $768 (Iowa: $806)
> Median home value: $159,800 (Iowa: $153,900)
> Median household income: $66,620 (Iowa: $61,836)
> No. of metros considered in ranking: 8
Source: LawrenceSawyer / E+ via Getty Images
Kansas: Topeka
> Rental occupied housing units: 30.6% (Kansas: 33.8%)
> Median rental cost: $808 (Kansas: $863)
> Median home value: $137,900 (Kansas: $157,600)
> Median household income: $59,815 (Kansas: $61,091)
> No. of metros considered in ranking: 4
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Source: DenisTangneyJr / iStock via Getty Images
Kentucky: Owensboro
> Rental occupied housing units: 31.5% (Kentucky: 32.4%)
> Median rental cost: $795 (Kentucky: $783)
> Median home value: $139,300 (Kentucky: $147,100)
> Median household income: $54,946 (Kentucky: $52,238)
> No. of metros considered in ranking: 5
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Louisiana: Houma-Thibodaux
> Rental occupied housing units: 26.1% (Louisiana: 33.4%)
> Median rental cost: $842 (Louisiana: $876)
> Median home value: $157,000 (Louisiana: $168,100)
> Median household income: $53,267 (Louisiana: $50,800)
> No. of metros considered in ranking: 9
Source: Daniel Hanscom / iStock via Getty Images
Maine: Portland-South Portland
> Rental occupied housing units: 27.9% (Maine: 27.1%)
> Median rental cost: $1,115 (Maine: $873)
> Median home value: $273,100 (Maine: $198,000)
> Median household income: $72,552 (Maine: $59,489)
> No. of metros considered in ranking: 3
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Source: Alexey_Fedoren / iStock via Getty Images
Maryland: Salisbury
> Rental occupied housing units: 25.7% (Maryland: 32.9%)
> Median rental cost: $1,032 (Maryland: $1,415)
> Median home value: $243,900 (Maryland: $325,400)
> Median household income: $62,799 (Maryland: $87,063)
> No. of metros considered in ranking: 5
Source: DenisTangneyJr / iStock via Getty Images
Massachusetts: Barnstable Town
> Rental occupied housing units: 20.4% (Massachusetts: 37.5%)
> Median rental cost: $1,362 (Massachusetts: $1,336)
> Median home value: $414,000 (Massachusetts: $398,800)
> Median household income: $76,863 (Massachusetts: $84,385)
> No. of metros considered in ranking: 5
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Source: csfotoimages / iStock via Getty Images
Michigan: Monroe
> Rental occupied housing units: 19.4% (Michigan: 28.3%)
> Median rental cost: $870 (Michigan: $892)
> Median home value: $167,400 (Michigan: $162,600)
> Median household income: $65,453 (Michigan: $59,234)
> No. of metros considered in ranking: 14
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Source: BanksPhotos / E+ via Getty Images
Minnesota: Rochester
> Rental occupied housing units: 25.0% (Minnesota: 28.1%)
> Median rental cost: $952 (Minnesota: $1,010)
> Median home value: $218,500 (Minnesota: $235,700)
> Median household income: $76,787 (Minnesota: $73,382)
> No. of metros considered in ranking: 5
Source: SeanPavonePhoto / iStock via Getty Images
Mississippi: Jackson
> Rental occupied housing units: 32.4% (Mississippi: 31.2%)
> Median rental cost: $884 (Mississippi: $789)
> Median home value: $148,300 (Mississippi: $125,500)
> Median household income: $53,639 (Mississippi: $46,511)
> No. of metros considered in ranking: 3
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Source: DenisTangneyJr / iStock via Getty Images
Missouri: Jefferson City
> Rental occupied housing units: 28.3% (Missouri: 32.9%)
> Median rental cost: $686 (Missouri: $843)
> Median home value: $162,100 (Missouri: $163,600)
> Median household income: $60,586 (Missouri: $57,290)
> No. of metros considered in ranking: 8
Source: peeterv / iStock via Getty Images
Montana: Billings
> Rental occupied housing units: 30.2% (Montana: 31.5%)
> Median rental cost: $901 (Montana: $836)
> Median home value: $240,700 (Montana: $244,900)
> Median household income: $62,722 (Montana: $56,539)
> No. of metros considered in ranking: 3
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Nebraska: Omaha-Council Bluffs
> Rental occupied housing units: 34.2% (Nebraska: 33.8%)
> Median rental cost: $952 (Nebraska: $857)
> Median home value: $181,200 (Nebraska: $164,000)
> Median household income: $69,439 (Nebraska: $63,015)
> No. of metros considered in ranking: 3
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Source: Bill_Dally / iStock via Getty Images
Nevada: Carson City
> Rental occupied housing units: 41.8% (Nevada: 42.9%)
> Median rental cost: $982 (Nevada: $1,159)
> Median home value: $299,900 (Nevada: $290,200)
> Median household income: $58,305 (Nevada: $62,043)
> No. of metros considered in ranking: 3
Source: Sean Pavone / iStock via Getty Images
New Hampshire: Manchester-Nashua*
> Rental occupied housing units: 34.3% (New Hampshire: 28.8%)
> Median rental cost: $1,217 (New Hampshire: $1,145)
> Median home value: $287,900 (New Hampshire: $272,300)
> Median household income: $82,099 (New Hampshire: $77,923)
> No. of metros considered in ranking: 1
*Because Manchester-Nashua is the only eligible metro in New Hampshire, it is the metro with the lowest rental rate by default.
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New Jersey: Ocean City
> Rental occupied housing units: 22.0% (New Jersey: 36.0%)
> Median rental cost: $1,176 (New Jersey: $1,368)
> Median home value: $306,200 (New Jersey: $343,500)
> Median household income: $72,385 (New Jersey: $85,245)
> No. of metros considered in ranking: 4
Source: Sean Pavone / iStock via Getty Images
New Mexico: Santa Fe
> Rental occupied housing units: 28.8% (New Mexico: 32.0%)
> Median rental cost: $1,092 (New Mexico: $857)
> Median home value: $294,800 (New Mexico: $175,700)
> Median household income: $60,668 (New Mexico: $51,243)
> No. of metros considered in ranking: 4
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Source: Katie Dobies / iStock via Getty Images
New York: Glens Falls
> Rental occupied housing units: 28.4% (New York: 45.9%)
> Median rental cost: $898 (New York: $1,315)
> Median home value: $177,000 (New York: $325,000)
> Median household income: $62,284 (New York: $71,117)
> No. of metros considered in ranking: 13
Source: Jeff Yount / iStock via Getty Images
North Carolina: Hickory-Lenoir-Morganton
> Rental occupied housing units: 26.6% (North Carolina: 34.3%)
> Median rental cost: $708 (North Carolina: $932)
> Median home value: $139,100 (North Carolina: $182,100)
> Median household income: $49,706 (North Carolina: $56,642)
> No. of metros considered in ranking: 15
Source: jerryhopman / iStock via Getty Images
North Dakota: Bismarck
> Rental occupied housing units: 29.6% (North Dakota: 37.5%)
> Median rental cost: $877 (North Dakota: $828)
> Median home value: $254,900 (North Dakota: $199,900)
> Median household income: $72,886 (North Dakota: $65,315)
> No. of metros considered in ranking: 3
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Ohio: Youngstown-Warren-Boardman
> Rental occupied housing units: 29.7% (Ohio: 33.7%)
> Median rental cost: $683 (Ohio: $825)
> Median home value: $110,300 (Ohio: $151,400)
> Median household income: $48,020 (Ohio: $58,116)
> No. of metros considered in ranking: 11
Source: BOB WESTON / iStock via Getty Images
Oklahoma: Enid
> Rental occupied housing units: 34.6% (Oklahoma: 33.9%)
> Median rental cost: $814 (Oklahoma: $818)
> Median home value: $119,000 (Oklahoma: $142,400)
> Median household income: $55,435 (Oklahoma: $53,840)
> No. of metros considered in ranking: 4
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Oregon: Grants Pass
> Rental occupied housing units: 31.2% (Oregon: 37.2%)
> Median rental cost: $930 (Oregon: $1,173)
> Median home value: $281,500 (Oregon: $336,700)
> Median household income: $47,733 (Oregon: $65,667)
> No. of metros considered in ranking: 8
Source: AppalachianViews / iStock via Getty Images
Pennsylvania: Gettysburg
> Rental occupied housing units: 22.2% (Pennsylvania: 31.0%)
> Median rental cost: $932 (Pennsylvania: $958)
> Median home value: $212,300 (Pennsylvania: $187,500)
> Median household income: $68,411 (Pennsylvania: $63,627)
> No. of metros considered in ranking: 18
Source: DenisTangneyJr / E+ via Getty Images
Rhode Island: Providence-Warwick*
> Rental occupied housing units: 38.0% (Rhode Island: 38.4%)
> Median rental cost: $993 (Rhode Island: $1,031)
> Median home value: $290,500 (Rhode Island: $276,600)
> Median household income: $70,676 (Rhode Island: $70,305)
> No. of metros considered in ranking: 1
*Because Providence-Warwick is the only eligible metro in Rhode Island, it is the metro with the lowest rental rate by default.
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Source: Sean Pavone / iStock via Getty Images
South Carolina: Myrtle Beach-Conway-North Myrtle Beach
> Rental occupied housing units: 24.0% (South Carolina: 29.9%)
> Median rental cost: $976 (South Carolina: $918)
> Median home value: $195,700 (South Carolina: $170,100)
> Median household income: $53,832 (South Carolina: $54,864)
> No. of metros considered in ranking: 8
Source: James_Gabbert / iStock via Getty Images
South Dakota: Rapid City
> Rental occupied housing units: 30.0% (South Dakota: 32.0%)
> Median rental cost: $870 (South Dakota: $761)
> Median home value: $199,100 (South Dakota: $174,600)
> Median household income: $59,076 (South Dakota: $59,896)
> No. of metros considered in ranking: 2
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Source: J. Michael Jones / iStock Editorial via Getty Images
Tennessee: Kingsport-Bristol
> Rental occupied housing units: 26.5% (Tennessee: 33.5%)
> Median rental cost: $678 (Tennessee: $897)
> Median home value: $140,800 (Tennessee: $177,600)
> Median household income: $46,685 (Tennessee: $54,833)
> No. of metros considered in ranking: 10
Texas: Longview
> Rental occupied housing units: 31.5% (Texas: 37.7%)
> Median rental cost: $850 (Texas: $1,082)
> Median home value: $141,700 (Texas: $187,200)
> Median household income: $53,524 (Texas: $63,826)
> No. of metros considered in ranking: 25
Source: DenisTangneyJr / iStock via Getty Images
Utah: Ogden-Clearfield
> Rental occupied housing units: 23.4% (Utah: 29.5%)
> Median rental cost: $1,038 (Utah: $1,090)
> Median home value: $284,500 (Utah: $305,400)
> Median household income: $78,680 (Utah: $74,197)
> No. of metros considered in ranking: 5
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Source: vermontalm / iStock via Getty Images
Vermont: Burlington-South Burlington*
> Rental occupied housing units: 33.2% (Vermont: 28.7%)
> Median rental cost: $1,248 (Vermont: $999)
> Median home value: $285,200 (Vermont: $230,900)
> Median household income: $73,447 (Vermont: $63,477)
> No. of metros considered in ranking: 1
*Because Burlington-South Burlington is the only eligible metro in Vermont, it is the metro with the lowest rental rate by default.
Source: BackyardProduction / iStock Editorial via Getty Images
Virginia: Winchester
> Rental occupied housing units: 28.6% (Virginia: 33.3%)
> Median rental cost: $1,071 (Virginia: $1,257)
> Median home value: $242,500 (Virginia: $282,800)
> Median household income: $69,417 (Virginia: $76,398)
> No. of metros considered in ranking: 9
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Source: LoweStock / iStock via Getty Images
Washington: Mount Vernon-Anacortes
> Rental occupied housing units: 30.0% (Washington: 36.7%)
> Median rental cost: $1,145 (Washington: $1,337)
> Median home value: $341,600 (Washington: $366,800)
> Median household income: $71,021 (Washington: $77,006)
> No. of metros considered in ranking: 11
Source: hkim39 / iStock via Getty Images
West Virginia: Beckley
> Rental occupied housing units: 24.3% (West Virginia: 26.3%)
> Median rental cost: $691 (West Virginia: $732)
> Median home value: $104,100 (West Virginia: $123,200)
> Median household income: $43,444 (West Virginia: $48,037)
> No. of metros considered in ranking: 7
Source: DenisTangneyJr / iStock via Getty Images
Wisconsin: Appleton
> Rental occupied housing units: 26.6% (Wisconsin: 32.9%)
> Median rental cost: $815 (Wisconsin: $872)
> Median home value: $180,300 (Wisconsin: $189,200)
> Median household income: $70,261 (Wisconsin: $63,293)
> No. of metros considered in ranking: 12
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Source: DenisTangneyJr / E+ via Getty Images
Wyoming: Cheyenne
> Rental occupied housing units: 27.4% (Wyoming: 29.0%)
> Median rental cost: $933 (Wyoming: $853)
> Median home value: $239,900 (Wyoming: $228,000)
> Median household income: $69,369 (Wyoming: $65,304)
> No. of metros considered in ranking: 2
Methodology
To determine the metro with the lowest rental rate in every state, 24/7 Wall St. reviewed five-year estimates of the share of housing units that are occupied by renters from the U.S. Census Bureau’s 2020 American Community Survey.
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 excluded if rental rates were not available in the 2020 ACS, if there were fewer than 1,000 housing units, or if the sampling error associated with a metro’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 metro’s rental rate was above 15% and greater than two standard deviations above the mean CV for all metros’ rental rates. We similarly excluded metros that had a sampling error too high for their population, using the same definition.
Metros were ranked based on the percentage of housing units that are occupied by renters. To break ties, we used the number of housing units that are occupied by renters.
Additional information on median rental cost, median home value, and median household income are also five-year estimates from the 2020 ACS. Because the Census Bureau didn’t 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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