5 States With the Highest Rent in the US

In this article, we will take a look at the 5 states with the highest rent in the US. If you wish to see our detailed analysis, you can go to 15 States With the Highest Rent in the US.

5. Florida   

Median Rent: $2,575

Residents in Florida have been experiencing difficulty finding housing since the median rents are as high as $2,575 in the state. While the wages are not rising to meet rental costs, renters in Florida continue to be vulnerable to the unavailability of affordable housing. Hence, Florida ranks as another state with the highest rent in the US.

4. California  

Median Rent: $2,800

California is one of the 15 states with the highest rent in the US. Housing affordability is a major problem in the state since Californian cities such as San Francisco, Los Angeles, and San Jose have some of the highest rents in the US. The state has a median rent of $2,800, as of November. The demand for houses exceeding the supply is also a problem in California.

3. Hawaii

Median Rent: $2,900

Hawaii has a high cost of living especially in terms of housing. The rents across Hawaii have soared which is evident from the state’s median rent of $2,900, as of November. Honolulu, the capital of Hawaii, ranks as an expensive place to rent. The availability of land suitable for housing is less in the state while the demand is high thereby driving the rents up.

2. New York

Median Rent: $3,000

The median rent in New York is as high as $3,000, as of November. Especially in Manhattan, the median rents remained at a record high in August. The rents are also high since there are fewer rental buildings and buyers in the state prefer to rent rather than buy amidst high interest rates.

1. Massachusetts   

Median Rent: $3,000

Massachusetts ranks as one of the US states with the highest rents in the country. As of November, the median rent in Massachusetts is $3,000 which is higher than the average US rent. Boston, the capital city of the state, is known to have a high demand from renters although the rents are high in the city.

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