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States with the fastest-growing rents

  • #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.

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  • #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.

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