States with the fastest-growing rents
Since the start of the 21st century, the cost of rent has skyrocketed across America. Every state in the nation has seen a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.
While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.
The pandemic is throwing the rental market for a loop, though. On the one hand, rents in some notoriously expensive cities, like New York and San Francisco, have actually fallen this year—the result of white-collar workers with stable jobs taking advantage of new work-from-home policies and relocating to less pricey areas of the country, freeing up apartments in major cities. But for many people, making rent has only gotten more challenging in 2020. At least 22 million people have lost their jobs during the coronavirus public health crisis, leaving many scrambling to pay their bills. While the Centers for Disease Control and Prevention (CDC), as well as many states, have implemented moratoriums on evicting tenants from their apartments through the end of the year, experts warn that an eviction crisis is on the horizon for around 40 million people.
To understand how the rental housing market has gotten to this point, Stacker compiled a list of states with the fastest-growing rent using 2000 and 2019 data from the U.S. Census Bureau. The 50 states and Washington D.C. are ranked by the percentage increase of their median rental prices from 2000 to 2019. The list also includes the percentage increase of the median household income in the same time frame.
Read on to see how rent hikes have varied in every state and the country's capital.
#51. Ohio
- 2000-2019 median rent growth: 57.9%
--- Median rent: $515 in 2000; $813 in 2019
- 2000-2019 median household income growth: 36.5%
--- Median household income: $42,962 in 2000; $58,642 in 2019
Compared to other states, Ohio has seen a relatively mild rate of rent growth compared with household income growth. However, given that Ohio has had high unemployment rates during the pandemic, some out-of-work renters may have trouble keeping up with their bills. To help those in need, the state announced in late October that it would direct $50 million in funding from the CARES Act to emergency rental assistance.
#50. Wisconsin
- 2000-2019 median rent growth: 60.6%
--- Median rent: $540 in 2000; $867 in 2019
- 2000-2019 median household income growth: 42.3%
--- Median household income: $45,088 in 2000; $64,168 in 2019
Wisconsin rent is largely increasing because of a construction labor shortage combined with expensive construction costs and land regulations. Renters in the state have been hit hard by job losses from the pandemic, and 34% of the state’s renting population was potentially facing eviction in July, per CNBC.
#49. Indiana
- 2000-2019 median rent growth: 61.2%
--- Median rent: $521 in 2000; $840 in 2019
- 2000-2019 median household income growth: 41%
--- Median household income: $40,865 in 2000; $57,603 in 2019
High rents in Indiana are primarily due to the presence of large educational institutions full of students who push up demand for rental units. The state announced in October that it would begin accepting applications for a pandemic rent relief program that provides participants with up to a half-year of financial assistance for housing.
#48. Michigan
- 2000-2019 median rent growth: 62.6%
--- Median rent: $546 in 2000; $888 in 2019
- 2000-2019 median household income growth: 30.9%
--- Median household income: $45,512 in 2000; $59,584 in 2019
The stagnant wages for lower-income Michigan residents who cannot afford homes—particularly those in urban areas like Detroit—coupled with an increase in millennials who tend to prefer renting, is making the market for rentals especially tight and expensive. To help protect vulnerable renters during the coronavirus pandemic, Michigan Gov. Gretchen Whitmer signed an executive order in June that provided $50 million in funding for rental assistance and an extension to a moratorium on evictions.
#47. Arkansas
- 2000-2019 median rent growth: 63.8%
--- Median rent: $453 in 2000; $742 in 2019
- 2000-2019 median household income growth: 64.8%
--- Median household income: $29,697 in 2000; $48,952 in 2019
Arkansas is the only state that does not have minimum standards for rental spaces and allows police to arrest people who are behind on their rent, according to THV 11. In early November, organizations in the state announced that they would soon launch "Arkansas Fresh Start," a rental assistance program that provides up to two and a half month's rent to residents who earn 80% or less of the median income in their area, per the Arkansas Community Action Agencies Association.
#46. Alaska
- 2000-2019 median rent growth: 66.8%
--- Median rent: $720 in 2000; $1,201 in 2019
- 2000-2019 median household income growth: 42.8%
--- Median household income: $52,847 in 2000; $75,463 in 2019
In Alaska, rents have outpaced wage growth. The housing costs in Alaska have skyrocketed in large part due to slow construction and creation of rental units in the area. In an effort to help renters in Juneau who may have lost their jobs or seen their wages cut during the pandemic, the Juneau Assembly set aside $3 million to provide eligible people with up to $1,500 for rent payments.
#45. Nevada
- 2000-2019 median rent growth: 67.1%
--- Median rent: $699 in 2000; $1,168 in 2019
- 2000-2019 median household income growth: 38.3%
--- Median household income: $45,758 in 2000; $63,276 in 2019
The price of rent in Nevada has significantly outpaced household income growth—and prices continue to increase in some parts of the state during the pandemic. In fact, the combined average rent for Reno-Sparks recently hit an all-time high of $1,421, according to a November article in the Reno Gazette. The state’s moratorium on evictions, which was put in place after the COVID-19 outbreak, ended on Oct. 15.
#44. New Mexico
- 2000-2019 median rent growth: 68.4%
--- Median rent: $503 in 2000; $847 in 2019
- 2000-2019 median household income growth: 48%
--- Median household income: $35,093 in 2000; $51,945 in 2019
New Mexico plans to provide $12.3 million in rental assistance to people experiencing hardships from the pandemic. The state currently has a moratorium on evictions of people unable to pay rent during the public health emergency, per Money.
#43. Illinois
- 2000-2019 median rent growth: 68.6%
--- Median rent: $605 in 2000; $1,020 in 2019
- 2000-2019 median household income growth: 50.2%
--- Median household income: $46,064 in 2000; $69,187 in 2019
In Illinois, rent has grown at a much higher pace than income. There’s a shortage of rental units, particularly affordable rental units, which has driven up the average cost of rentals and housing throughout the state. Local landlords have complained that tenants are taking advantage of the state’s moratorium on evictions during the pandemic and refusing to pay rent, leaving them in a bind, ABC 7 Chicago reported.
#42. North Carolina
- 2000-2019 median rent growth: 69.9%
--- Median rent: $548 in 2000; $931 in 2019
- 2000-2019 median household income growth: 49.6%
--- Median household income: $38,317 in 2000; $57,341 in 2019
In late October, North Carolina Gov. Roy Cooper mandated landlords that they make sure their tenants are aware of their protections against eviction for non-payment of rent due to the coronavirus pandemic hardships. He set aside $117 million from federal funding for a rent relief program that offers up to six months of assistance to in-need residents.
#41. Idaho
- 2000-2019 median rent growth: 70.9%
--- Median rent: $515 in 2000; $880 in 2019
- 2000-2019 median household income growth: 62.2%
--- Median household income: $37,611 in 2000; $60,999 in 2019
Beyond the CDC’s moratorium on renter evictions, Idaho has loose regulations on rentals, with landlords able to give as few as 15 days of notice before rent hikes at the end of a lease. Boise, the state’s capital, has seen the median rent increase by 9.4% between March and October 2020, according to data from Apartmentlist.com. The higher prices are forcing some Boise residents to move outside of the city.
#40. Georgia
- 2000-2019 median rent growth: 71.1%
--- Median rent: $613 in 2000; $1,049 in 2019
- 2000-2019 median household income growth: 47.9%
--- Median household income: $41,901 in 2000; $61,980 in 2019
In Georgia, housing rental costs are growing much faster than that of household incomes. Despite the CDC’s moratorium on evictions for tenants who are behind on rent, some rural counties in Georgia have continued eviction proceedings, putting tenants at risk of homelessness, according to a report on WABE-FM Atlanta.
#39. Iowa
- 2000-2019 median rent growth: 71.9%
--- Median rent: $470 in 2000; $808 in 2019
- 2000-2019 median household income growth: 50.5%
--- Median household income: $40,991 in 2000; $61,691 in 2019
A $20 million program to offer short-term financial assistance to tenants and homeowners in Iowa during the pandemic nearly ran out of money in mid-October. The state infused the program with another $9 million a couple of weeks later. Eligible renters who’ve lost their jobs or receive fewer hours or lower pay at work due to the pandemic can receive up to four months of financial assistance.
#38. Missouri
- 2000-2019 median rent growth: 72.3%
--- Median rent: $484 in 2000; $834 in 2019
- 2000-2019 median household income growth: 27.3%
--- Median household income: $45,097 in 2000; $57,409 in 2019
Rental rates in Missouri have grown at more than double the rate at which wages have increased. Missouri’s inability to raise wages to keep up with rising costs of housing has created an affordability issue for many low- and middle-income residents, The Missouri Times has reported. In mid-October, tenants and housing activists in Kansas City protested at eviction hearings by chaining themselves to the Jackson County Courthouse doors.
#37. Connecticut
- 2000-2019 median rent growth: 72.8%
--- Median rent: $681 in 2000; $1,177 in 2019
- 2000-2019 median household income growth: 57.1%
--- Median household income: $50,172 in 2000; $78,833 in 2019
In Connecticut, wages have not increased at the same rate as housing costs. The demand for rentals in the state has increased, particularly in areas like Stamford, due to its proximity to New York and ample educational institutions. Landlords are worried about an eviction wave that's likely to occur once the state's moratorium on removing non-paying tenants from their apartments expires at the end of the year, the Hartford Business Journal has reported.
#36. Kansas
- 2000-2019 median rent growth: 73.1%
--- Median rent: $498 in 2000; $862 in 2019
- 2000-2019 median household income growth: 51.2%
--- Median household income: $41,059 in 2000; $62,087 in 2019
While the cost of housing in Kansas has steadily increased, wages have not climbed as quickly. The state’s eviction prevention program has allocated $35 million in funding to help residents who’ve faced hardship during the coronavirus pandemic pay rent. Kansas has a moratorium on evictions in place until at least Jan. 26, 2021.
#35. Kentucky
- 2000-2019 median rent growth: 73.7%
--- Median rent: $445 in 2000; $773 in 2019
- 2000-2019 median household income growth: 44.2%
--- Median household income: $36,265 in 2000; $52,295 in 2019
In Kentucky, rent growth has outpaced income growth by about 65%. Kentucky’s growing urbanization and lack of sustainable affordable housing have compounded to intensify the rising costs of rental units. To help offset the effects of the pandemic, the state has set up a rental assistance program to cover up to six months of rent for eligible tenants.
#34. Delaware
- 2000-2019 median rent growth: 74.6%
--- Median rent: $639 in 2000; $1,116 in 2019
- 2000-2019 median household income growth: 39.3%
--- Median household income: $50,365 in 2000; $70,176 in 2019
Delaware’s stagnant wage growth has not kept up with the rising costs of rent. The state has allowed eviction filings to continue during the pandemic, with the requirement that landlords prove that removing the tenant is in the interest of justice, according to Money. Delaware offers housing assistance to eligible renters.
#33. Nebraska
- 2000-2019 median rent growth: 74.9%
--- Median rent: $491 in 2000; $859 in 2019
- 2000-2019 median household income growth: 51.4%
--- Median household income: $41,750 in 2000; $63,229 in 2019
Like many other areas across America, Nebraska is seeing an increase in rental demand because homeownership is becoming less of a possibility for individuals in the bottom half of the income spectrum. The state has not implemented its own moratorium on rent during the pandemic.
#32. Maine
- 2000-2019 median rent growth: 75.1%
--- Median rent: $497 in 2000; $870 in 2019
- 2000-2019 median household income growth: 58.1%
--- Median household income: $37,266 in 2000; $58,924 in 2019
Maine's rental costs are impacted by the fact that more individuals are moving to the state, many of whom come from states with higher wages and costs of living, allowing them to pay top dollar for rentals. Higher numbers of tenants are facing eviction during the pandemic than usual. A legal group that offers defense for low-income tenants in Maine has seen a more than 20% increase in intakes from Aug. 3 to Oct. 26 compared with the same months in 2019.
#31. Mississippi
- 2000-2019 median rent growth: 77%
--- Median rent: $439 in 2000; $777 in 2019
- 2000-2019 median household income growth: 33.5%
--- Median household income: $34,299 in 2000; $45,792 in 2019
Mississippi’s rental costs have grown at more than two times the rate of wages. The state has had slow economic growth, lagging behind the majority of other states, which may be impacting household income. Data from the advisory firm Stout shows that up to 181,000 renter households in Mississippi may be at risk of eviction due to the pandemic.
#30. Vermont
- 2000-2019 median rent growth: 77.2%
--- Median rent: $553 in 2000; $980 in 2019
- 2000-2019 median household income growth: 59.1%
--- Median household income: $39,594 in 2000; $63,001 in 2019
Vermont’s expensive cost of developing housing has led to higher-cost rental units throughout the region. Vermont’s wage stagnancy has prevented many low-income residents from attaining the same economic growth as their middle- and high-income counterparts, also compounding the burden of high rent. The economic impact of the coronavirus pandemic may result in up to 10,000 eviction filings in Vermont by January, according to the investment bank Stout.
#29. New Hampshire
- 2000-2019 median rent growth: 77.6%
--- Median rent: $646 in 2000; $1,147 in 2019
- 2000-2019 median household income growth: 53%
--- Median household income: $50,926 in 2000; $77,933 in 2019
New Hampshire has had rent increase at a faster pace than incomes. While the population has been relatively steady, the proportion of individuals looking to rent versus buying a home has grown rapidly. Median rents have continued to climb during the pandemic, as wealthy workers from Boston take advantage of new work-from-home policies and relocate to New Hampshire, the Concord Monitor reported in October.
#28. Arizona
- 2000-2019 median rent growth: 77.9%
--- Median rent: $619 in 2000; $1,101 in 2019
- 2000-2019 median household income growth: 56%
--- Median household income: $39,783 in 2000; $62,055 in 2019
In Arizona, housing costs have exceeded income growth. The state has reserved $7 million from its emergency fund to provide assistance to tenants and property owners who have faced financial challenges during the pandemic. That funding is on top of the roughly $50 million that various other programs across the state have allocated to help renters, per KTAR News.
#27. Oklahoma
- 2000-2019 median rent growth: 78.5%
--- Median rent: $456 in 2000; $814 in 2019
- 2000-2019 median household income growth: 67.9%
--- Median household income: $32,432 in 2000; $54,449 in 2019
In Oklahoma, rents have grown at a moderately higher rate than incomes. A big factor accounting for the increase in rent in Oklahoma City is that the majority of new developers are creating high-end and luxury rental units, rather than affordable apartments. The investment bank Stout predicts that hardships from the pandemic will lead to 100,000 eviction filings in Oklahoma in January 2021.
#26. Tennessee
- 2000-2019 median rent growth: 79%
--- Median rent: $505 in 2000; $904 in 2019
- 2000-2019 median household income growth: 64.5%
--- Median household income: $34,096 in 2000; $56,071 in 2019
A November report from LendingTree found that Tennessee has the third-highest rate of tenants behind on rent of all states in the United States, with nearly a quarter of renters unable to pay right now. Data from Stout shows that the state has an estimated rent shortfall of up to $314 million because of the pandemic.
#25. Pennsylvania
- 2000-2019 median rent growth: 79.1%
--- Median rent: $531 in 2000; $951 in 2019
- 2000-2019 median household income growth: 50.5%
--- Median household income: $42,176 in 2000; $63,463 in 2019
Philadelphia tenants facing financial challenges from the coronavirus pandemic may be able to receive up to $9,000 in rental assistance from the government. In October, Pennsylvania eased restrictions on rent relief programs to help Pennsylvanians ward off homelessness.
#24. Minnesota
- 2000-2019 median rent growth: 79.5%
--- Median rent: $566 in 2000; $1,016 in 2019
- 2000-2019 median household income growth: 37.5%
--- Median household income: $54,251 in 2000; $74,593 in 2019
Minnesota has seen the demand for rentals increase substantially as more millennials who cannot afford to buy homes turn to long-term renting as an alternative. During the pandemic, residents of higher-priced apartments in the state have generally been able to continue paying rent, while those in the least-expensive units have had trouble keeping up with their bills, per the Minneapolis/St. Paul Business Journal.
#23. South Dakota
- 2000-2019 median rent growth: 80.5%
--- Median rent: $426 in 2000; $769 in 2019
- 2000-2019 median household income growth: 63.2%
--- Median household income: $36,475 in 2000; $59,533 in 2019
The rent in South Dakota has outpaced income growth in the region. In Rapid City, the increase of younger individuals looking for apartments coupled with higher numbers of retirees looking to downsize into rental units have caused rent prices to spike. Despite the increase, rents are still relatively low compared to other states, and local realtors say they’ve seen an influx of new people moving to South Dakota to take advantage of more affordable housing during the pandemic.
#22. Alabama
- 2000-2019 median rent growth: 80.5%
--- Median rent: $447 in 2000; $807 in 2019
- 2000-2019 median household income growth: 46%
--- Median household income: $35,424 in 2000; $51,734 in 2019
Over the past few years, Alabama has seen an influx of people move into the state for educational and economic opportunities, which has created a higher demand for rental properties. Advocacy groups in the state have urged the government to set up rent relief programs through the nearly $1 billion it received from the federal government, as all unused funds will go back to Washington D.C. by the end of the year, the Associated Press has reported.
#21. South Carolina
- 2000-2019 median rent growth: 80.8%
--- Median rent: $510 in 2000; $922 in 2019
- 2000-2019 median household income growth: 49.7%
--- Median household income: $37,570 in 2000; $56,227 in 2019
The increase in South Carolina’s rental prices have outpaced the growth of wages in the state. One factor is a boom of people moving into the area, which is exhausting the housing supply. While the state has a rental assistance program to help tenants during the pandemic, some advocates warn that there may be a rental crisis on the horizon.
#20. West Virginia
- 2000-2019 median rent growth: 81.3%
--- Median rent: $401 in 2000; $727 in 2019
- 2000-2019 median household income growth: 66.1%
--- Median household income: $29,411 in 2000; $48,850 in 2019
West Virginia’s growth in rents has outpaced its growth in median household income. The state has a severe shortage of affordable rentals, which is causing a housing crisis, according to Ellen Allen of Covenant House. Data from Stout shows that up to 44,000 renter households in West Virginia may be at risk of eviction during the pandemic.
#19. New Jersey
- 2000-2019 median rent growth: 83.2%
--- Median rent: $751 in 2000; $1,376 in 2019
- 2000-2019 median household income growth: 70.1%
--- Median household income: $50,405 in 2000; $85,751 in 2019
Workers in New York, Pennsylvania, and New Jersey all compete for housing in the Garden State, which increases the cost of rent. The state has also scaled back affordable housing incentives, driving up rental prices. With some 26,000 residents at risk of eviction during the pandemic, the state government is considering a bill that would keep eviction records confidential.
#18. Utah
- 2000-2019 median rent growth: 83.9%
--- Median rent: $597 in 2000; $1,098 in 2019
- 2000-2019 median household income growth: 59.4%
--- Median household income: $47,550 in 2000; $75,780 in 2019
Utah’s escalating rent prices can be traced to the area’s rapid population growth over the years, which has put pressure on the housing supply. Stout predicts that the state will receive around 40,000 eviction filings by January 2021. It also estimates that Utah is facing a rent shortfall of at least $120 million amid the pandemic.
#17. Louisiana
- 2000-2019 median rent growth: 85.8%
--- Median rent: $466 in 2000; $866 in 2019
- 2000-2019 median household income growth: 66.3%
--- Median household income: $30,718 in 2000; $51,073 in 2019
While Louisiana has offered emergency rental assistance to needy tenants during the pandemic, the state has not implemented its own eviction moratorium, according to Money. Between 239,000 and 287,000 renter households in the state are at risk of getting kicked out of their homes, per Stout.
#16. Montana
- 2000-2019 median rent growth: 85.9%
--- Median rent: $447 in 2000; $831 in 2019
- 2000-2019 median household income growth: 74.4%
--- Median household income: $32,777 in 2000; $57,153 in 2019
Montana’s mountainous geography and large swaths of federal land means there is a limit to land that can be used to develop affordable housing. To help tenants who are struggling during the pandemic, the state doled out more than $4.5 million in financial assistance for housing between May and October, per KTVH.
#15. Wyoming
- 2000-2019 median rent growth: 88.1%
--- Median rent: $437 in 2000; $822 in 2019
- 2000-2019 median household income growth: 64%
--- Median household income: $39,629 in 2000; $65,003 in 2019
In June, Wyoming set up an emergency housing program to provide rental assistance of up to $2,000 per month for tenants having trouble paying their bills due to the pandemic. Despite the influx of cash, up to 30,000 renter households in the state have struggled to pay rent and may face eviction, according to Stout.
#14. Rhode Island
- 2000-2019 median rent growth: 88.6%
--- Median rent: $553 in 2000; $1,043 in 2019
- 2000-2019 median household income growth: 68.7%
--- Median household income: $42,197 in 2000; $71,169 in 2019
After receiving reports that landlords were trying to kick tenants out of their rentals without a court order, Rhode Island’s attorney general warned property owners to respect tenant rights, according to The Providence Journal. Stout estimates that the state will receive about 30,000 eviction filings by January 2021 and is facing a rent shortfall of up to $119 million.
#13. Texas
- 2000-2019 median rent growth: 90.1%
--- Median rent: $574 in 2000; $1,091 in 2019
- 2000-2019 median household income growth: 65.9%
--- Median household income: $38,609 in 2000; $64,034 in 2019
One major reason behind the spike in rent in Texas is the influx of new residents, particularly those coming for higher-income jobs. Zoning regulations and a lack of state funding has made affordable units for low-income individuals limited. The state’s Eviction Diversion Program allows tenants who earn no more than twice the national poverty rate to make alternative arrangements with their landlord if the pandemic has made it difficult to pay rent, per Money.
#12. Oregon
- 2000-2019 median rent growth: 91.1%
--- Median rent: $620 in 2000; $1,185 in 2019
- 2000-2019 median household income growth: 57.8%
--- Median household income: $42,499 in 2000; $67,058 in 2019
One unique factor affecting the cost of rent in Oregon is anti-sprawl legislation. Even though the state has a lot of land, there are limits on where housing developments such as urban rental units can be built, which leads to a limited supply that drives up costs. Landlords say that a moratorium on evictions during the pandemic is making it difficult to keep their heads above water, per OregonLive.
#11. Virginia
- 2000-2019 median rent growth: 92.9%
--- Median rent: $650 in 2000; $1,254 in 2019
- 2000-2019 median household income growth: 62.1%
--- Median household income: $47,163 in 2000; $76,456 in 2019
In Virginia, rent has grown much faster than incomes, and its proximity to Washington D.C. has led to many workers seeking housing there in recent years. A loophole in Virginia law allows landlords to circumvent an eviction moratorium in place during the coronavirus pandemic and simply terminate a lease if a tenant falls behind on rent, then try to kick them out of the unit for overstaying their lease, per WAMU.
#10. Florida
- 2000-2019 median rent growth: 93.1%
--- Median rent: $641 in 2000; $1,238 in 2019
- 2000-2019 median household income growth: 52.4%
--- Median household income: $38,856 in 2000; $59,227 in 2019
After an executive order urging Florida landlords not to increase rent during the pandemic expired, and some tenants in the state have seen their rent spike, reports First Coast News. Rents in Tampa Bay, in particular, have climbed during the pandemic, with the average studio apartment in Hillsborough County fetching 28% more than it did in 2019, according to a mid-October article from Fox 13.
#9. New York
- 2000-2019 median rent growth: 94.8%
--- Median rent: $672 in 2000; $1,309 in 2019
- 2000-2019 median household income growth: 77%
--- Median household income: $40,744 in 2000; $72,108 in 2019
New York City has earned a reputation as being a notoriously expensive place to rent an apartment, with housing prices continuing to climb over the past two decades. However, the pandemic may be offering some relief for renters in the Big Apple, which saw median rents for one-bedroom apartments fall by nearly 15% from September 2019 to September 2020, according to a report from Douglas Elliman. The state has an eviction moratorium in place through Jan. 1, 2021.
#8. North Dakota
- 2000-2019 median rent growth: 95.1%
--- Median rent: $412 in 2000; $804 in 2019
- 2000-2019 median household income growth: 79.4%
--- Median household income: $35,996 in 2000; $64,577 in 2019
North Dakota rent has grown at a significantly faster rate than wages. A boom in oil production in the 2000s had attracted many workers, which drove up demand for rental units, in turn driving up rental costs. More than 800 people in North Dakota have been evicted from their homes between March 11 and Aug. 1, during the pandemic, per The Dickinson Press.
#7. Massachusetts
- 2000-2019 median rent growth: 98.8%
--- Median rent: $684 in 2000; $1,360 in 2019
- 2000-2019 median household income growth: 83.6%
--- Median household income: $46,753 in 2000; $85,843 in 2019
In Massachusetts, rent has nearly doubled over the past two decades. The state is home to education and economic power hubs, which puts pressure on the housing supply and drives up costs. After a statewide moratorium on evictions during the pandemic expired in mid-October, several major landlords who own thousands of rental units have pledged to halt evictions due to nonpayment of rent until next year.
#6. Maryland
- 2000-2019 median rent growth: 103.3%
--- Median rent: $689 in 2000; $1,401 in 2019
- 2000-2019 median household income growth: 59.1%
--- Median household income: $54,535 in 2000; $86,738 in 2019
Maryland’s rent costs have increased significantly faster than the rate of incomes. Maryland’s highest-earning counties and proximity to the nation’s capital have led to high-cost housing. The state has allocated $10 million for financial assistance programs for renters who are struggling during the pandemic.
#5. Colorado
- 2000-2019 median rent growth: 104%
--- Median rent: $671 in 2000; $1,369 in 2019
- 2000-2019 median household income growth: 59.9%
--- Median household income: $48,240 in 2000; $77,127 in 2019
In Colorado, rent has grown at a significantly faster rate than household incomes. Its high rents are due to a rapid increase in new residents and compounded by a shortage of available renting options. To protect tenants who are struggling financially during the pandemic, the state has an eviction moratorium in place, as well as a ban against landlords charging late payment fees.
#4. Washington
- 2000-2019 median rent growth: 105%
--- Median rent: $663 in 2000; $1,359 in 2019
- 2000-2019 median household income growth: 85%
--- Median household income: $42,525 in 2000; $78,687 in 2019
The presence of tech giants, like Amazon and Microsoft, has driven rents in Washington up significantly since 2000. Some areas of the state have had a vacancy rate hovering between 1% to 2%, which can drive up prices. Washington has an eviction moratorium in place during the pandemic, but landlords are pressuring the government to make tenants prove that they’re experiencing financial hardship directly from the pandemic in order to be protected, Crosscut has reported.
#3. Hawaii
- 2000-2019 median rent growth: 111.9%
--- Median rent: $779 in 2000; $1,651 in 2019
- 2000-2019 median household income growth: 61.2%
--- Median household income: $51,546 in 2000; $83,102 in 2019
Rent in Hawaii has grown at nearly double the rate of wages. Many people want to move to Hawaii, and the influx of retirees or those seeking vacation housing in the area has greatly increased demand and prices. Because of Hawaii’s mountainous-island geography, there’s a hard limit on how much property can be developed. While tens of thousands of people in the state are struggling to cover their housing costs during the coronavirus pandemic, it has yet to distribute tens of millions of dollars set aside for emergency relief, according to Hawaii News Now.
#2. California
- 2000-2019 median rent growth: 116.1%
--- Median rent: $747 in 2000; $1,614 in 2019
- 2000-2019 median household income growth: 71.8%
--- Median household income: $46,816 in 2000; $80,440 in 2019
California's population has grown much faster than the state has created new housing, which has led to sky-high rents, especially in Los Angeles and San Francisco. A report released by the Federal Reserve in mid-November predicts that the state will have back rent totaling nearly $1.7 billion before 2021, due to the financial devastation caused by the pandemic. The state has a special evictions moratorium in place that protects tenants who make at least 25% of their rent payments through Jan. 31, 2021, per Money.
#1. Washington DC
- 2000-2019 median rent growth: 159.4%
--- Median rent: $618 in 2000; $1,603 in 2019
- 2000-2019 median household income growth: 123.8%
--- Median household income: $41,222 in 2000; $92,266 in 2019
While median household income in Washington D.C. has more than doubled since 2000, rent has climbed even higher. Strong job growth in the region has created a tight and competitive housing market that allows for higher prices to prevail. However, the coronavirus pandemic may be changing the rental market significantly. Prices for apartments have fallen by more than 11% during the pandemic, according to a report from Zillow.