10 Most Expensive & Least Expensive States to Rent In

Posted by Hannah Lapin on Sep 25, 2018 9:00:00 AM

According to HouseCanary, a predictive real estate analytics and insights platform, the national median rental price for a two-bedroom home was $1,561 per month in June 2018. HouseCanary regularly monitors national home prices, rental returns, and other relevant metrics, which they update in their Canary Rental Index. Here are what they determined to be the top ten most expensive states and least expensive states to rent in as of Q2 2018 (April-June 2018) based on the median rental price for a two-bedroom home.

Top 10 Most Expensive States

  • Washington D.C. - $2,652 median monthly rent
  • California- $2,391 median monthly rent
  • Hawaii- $2,275 median monthly rent
  • Massachusetts- $2,110 median monthly rent
  • New Jersey- $1,993 median monthly rent
  • Colorado- $1,989 median monthly rent
  • Maine- $1,930 median monthly rent
  • New York- $1,925 median monthly rent
  • Oregon- $1,919 median monthly rent
  • Washington- $1,892

Top 10 Least Expensive States

  • Alabama- $1,086 median monthly rent
  • Arkansas- $1,099 median monthly rent
  • Oklahoma- $1,136 median monthly rent
  • Kentucky- $1,177 median monthly rent
  • West Virginia- $1,181 median monthly rent
  • Ohio- $1,207 median monthly rent
  • Indiana- $1,219 median monthly rent
  • South Carolina- $1,241 median monthly rent
  • Missouri- $1,242 median monthly rent
  • Mississippi- $1,244 median monthly rent

 

Does any of this surprise you? To see the full report, visit the Q2 2018 Canary Rental Index.

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Related: Where should I purchase my rental property?, How well do you know the US SFR Investment Industry?

Topics: Rental Market Research

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