Where renters get the most for their money
Once considered an impermanent step on the way to buying a place, renting real estate is on the rise. In 2016, 36.6% of all household heads were leasing their homes—a twist in the ownership-or-bust narrative that was the norm a decade ago. In 2004, the number of American households who owned a home peaked at 69%—and then the Great Recession hit in 2007. What was thought to be an indelible trend in home ownership became a casualty of an economic crash.
Of course, rent prices have increased sharply as the demand for rental properties has grown. From 2006–2014, cities like San Francisco, New York City, and Austin have all experienced average rental increases of more than 30%. With people putting money into progressively expensive monthly rentals, homeownership could feel farther away than ever.
Some markets have it far worse the others, as a 500 square foot shoebox in New York City may rival the monthly cost of a 2,000 square foot palace in the South. To help discover just how dramatically rental rates vary across America, Stacker used data from Apartment List to rank every state (plus Washington D.C.) by their average apartment rental price per square foot. Data from more than 3,500 cities, towns, and metro areas were considered to compile these averages.
For each state, we've included the average size apartment that $1,500 in monthly rent will afford—read on to discover where renters get the most for their money.
#51. Washington, D.C.
Price per square foot: $2.95
Size of $1,500 apartment: 510 feet
#50. New York
Price per square foot: $2.43
Size of $1,500 apartment: 620 feet
#49. Hawaii
Price per square foot: $2.39
Size of $1,500 apartment: 630 feet
#48. Massachusetts
Price per square foot: $2.31
Size of $1,500 apartment: 650 feet
#47. California
Price per square foot: $2.15
Size of $1,500 apartment: 700 feet
#46. New Jersey
Price per square foot: $1.88
Size of $1,500 apartment: 800 feet
#45. Washington
Price per square foot: $1.64
Size of $1,500 apartment: 910 feet
#44. Rhode Island
Price per square foot: $1.52
Size of $1,500 apartment: 990 feet
#43. Oregon
Price per square foot: $1.43
Size of $1,500 apartment: 1,050 feet
#42. Maryland
Price per square foot: $1.41
Size of $1,500 apartment: 1,070 feet
#41. Colorado
Price per square foot: $1.41
Size of $1,500 apartment: 1,070 feet
#40. Illinois
Price per square foot: $1.4
Size of $1,500 apartment: 1,070 feet
#39. Vermont
Price per square foot: $1.39
Size of $1,500 apartment: 1,080 feet
#38. New Hampshire
Price per square foot: $1.37
Size of $1,500 apartment: 1,090 feet
#37. Maine
Price per square foot: $1.37
Size of $1,500 apartment: 1,100 feet
#36. Connecticut
Price per square foot: $1.36
Size of $1,500 apartment: 1,100 feet
#35. Florida
Price per square foot: $1.31
Size of $1,500 apartment: 1,140 feet
#34. Minnesota
Price per square foot: $1.27
Size of $1,500 apartment: 1,180 feet
#33. Alaska
Price per square foot: $1.25
Size of $1,500 apartment: 1,200 feet
#32. Virginia
Price per square foot: $1.24
Size of $1,500 apartment: 1,210 feet
#31. Pennsylvania
Price per square foot: $1.2
Size of $1,500 apartment: 1,250 feet
#30. Wisconsin
Price per square foot: $1.12
Size of $1,500 apartment: 1,350 feet
#29. Texas
Price per square foot: $1.07
Size of $1,500 apartment: 1,400 feet
#28. Louisiana
Price per square foot: $1.06
Size of $1,500 apartment: 1,420 feet
#27. Michigan
Price per square foot: $1.03
Size of $1,500 apartment: 1,450 feet
#26. South Carolina
Price per square foot: $1.02
Size of $1,500 apartment: 1,470 feet
#25. Arizona
Price per square foot: $1.01
Size of $1,500 apartment: 1,490 feet
#24. Delaware
Price per square foot: $0.99
Size of $1,500 apartment: 1,520 feet
#23. Utah
Price per square foot: $0.98
Size of $1,500 apartment: 1,530 feet
#22. Montana
Price per square foot: $0.97
Size of $1,500 apartment: 1,550 feet
#21. Iowa
Price per square foot: $0.97
Size of $1,500 apartment: 1,550 feet
#20. Tennessee
Price per square foot: $0.95
Size of $1,500 apartment: 1,580 feet
#19. Nevada
Price per square foot: $0.94
Size of $1,500 apartment: 1,600 feet
#18. Nebraska
Price per square foot: $0.94
Size of $1,500 apartment: 1,590 feet
#17. Georgia
Price per square foot: $0.92
Size of $1,500 apartment: 1,630 feet
#16. Ohio
Price per square foot: $0.91
Size of $1,500 apartment: 1,660 feet
#15. North Dakota
Price per square foot: $0.91
Size of $1,500 apartment: 1,650 feet
#14. North Carolina
Price per square foot: $0.89
Size of $1,500 apartment: 1,680 feet
#13. Missouri
Price per square foot: $0.89
Size of $1,500 apartment: 1,680 feet
#12. Kentucky
Price per square foot: $0.89
Size of $1,500 apartment: 1,690 feet
#11. South Dakota
Price per square foot: $0.88
Size of $1,500 apartment: 1,700 feet
#10. Idaho
Price per square foot: $0.88
Size of $1,500 apartment: 1,710 feet
#9. New Mexico
Price per square foot: $0.87
Size of $1,500 apartment: 1,720 feet
#8. Wyoming
Price per square foot: $0.86
Size of $1,500 apartment: 1,740 feet
#7. Indiana
Price per square foot: $0.86
Size of $1,500 apartment: 1,740 feet
#6. Kansas
Price per square foot: $0.84
Size of $1,500 apartment: 1,790 feet
#5. Oklahoma
Price per square foot: $0.8
Size of $1,500 apartment: 1,870 feet
#4. West Virginia
Price per square foot: $0.79
Size of $1,500 apartment: 1,890 feet
#3. Mississippi
Price per square foot: $0.79
Size of $1,500 apartment: 1,910 feet
#2. Arkansas
Price per square foot: $0.75
Size of $1,500 apartment: 2,000 feet
#1. Alabama
Price per square foot: $0.74
Size of $1,500 apartment: 2,020 feet
