Renting Statistics [2024 ]: Facts & Trends in Rental Market

Last Updated: July 14, 2022

Highlights. Renting statistics indicate that younger households rent longer and at greater rates as homeownership becomes a less attainable goal; the average asking rent among apartment listings nationwide is $2,016 monthly.

The current asking rent is 77.1% higher than the nationwide median gross rent of 2020.
The current asking rent is 12.95% lower than the average monthly mortgage payment.
35% of households live in rental properties.
Rental rates increased 31% over 10 years.
41% of renters spend more than 35% of their income on rent.

National Map: Median Gross Rent by State

Jump to a state: AL | AK | AZ | AR | CA | CO | CT | DE | FL | GA | HI | ID | IL | IN | IA | KS | KY | LA | ME | MD | MA | MI | MN | MS | MO | MT | NE | NV | NH | NJ | NM | NY | NC | ND | OH | OK | OR | PA | RI | SC | SD | TN | TX | UT | VT | VA | WA | WV | WI | WY

National Average Asking Monthly Rent Prices^[1]
Date	Rent	%Change Year-over-Year (YoY)
June 2022	$2,016	14.09%
March 2022	$1,940	16.66%
December 2021	$1,878	15.57%
September 2021	$1,852	12.38%
June 2021	$1,767	5.68%
March 2021	$1,663	3.81%
December 2020	$1,625	1.88%
September 2020	$1,648	1.48%
June 2020	$1,672	3.27%
March 2020	$1,602	-0.12%

Renting Household Statistics

More than one-third of U.S. residents rent their home. Most are under 45 years old and have attended college.

42.9 million or 34.5% of U.S. households rent their homes.
The average renting household has 2.35 residents.
The size of the average renting household declined 5.2% in 2020.
100.9 million people live in rental housing, a 7.4% decline year-over-year (YoY).
48,248 or 0.11% of rental homes are rent controlled.
127 working hours is the weekly requirement for minimum wage earners to afford the average apartment.
5.5% of renters have lived in their home for more than 20 years.
34.4% of renters are under the age of 35.
16.5% are aged 65 years and older.
86.4% of renters are high school graduates or equivalent.
64.1% of renters are White, including Caucasian, Hispanic or Latino.
51.8% of renters are Caucasian, 20.3% are Black or African American, and 19.7% are Hispanic or Latino.*
The number of renters increased between 2006 and 2016 by 23 million, compared to the number of homeowners, which increased by less than 700,000 in the same period.

*Totals will not add up to 100% due to overlapping ethnic and racial demographic parameters.

Pie Chart: Age Groups Among Renting Householders

Cost of Renting

Rent controlled units are most likely to be single units followed by those on properties with 150 units or more.

The average apartment listing for Nassau County, New York advertises a monthly rent of $4,008.
The average asking rent in Austin, Texas increased 48.4% in one year.
The average renter spends 30.99% of their income on rent.
The median household income among renters is $42,479.
41.61% of renting households have an annual income below $35,000.
16.50% have an income of $75,000 or more.
In 2020, 12.34% of renters spent $2,000 or more per month on rent.
8.66% of renters paid less than $500 for rent.
5.22% of renters paid no cash rent, including Section 8 households.
The rate of renters paying no cash rent increased 7.7% in 2020.

Most Expensive Metros for Renters in 2022^[1]
Metro Area	Median Asking Rent	YoY Change
New York Metro Area, NY-NJ	$4,008	24.4%
Boston, MA	$3,970	17.7%
San Francisco-Oakland, CA	$3,752	16.6%
San Jose, CA	$3,621	16.6%
San Diego, CA	$3,432	21.5%
Los Angeles-Anaheim, CA	$3,400	9.6%
Miami-Fort Lauderdale, FL	$3,157	29.0%
Seattle, WA	$3,097	31.9%
Sacramento, CA	$2,764	17.8%
Austin, TX	$2,707	48.4%

Renting Demographic Statistics

One out of every 5 millennials believes they will never be able to afford to buy a home.

64.06% of renters are white.
51.79% of renters are Caucasian/Nonhispanic.
19.65% of renters identify as Hispanic or Latino.
20.25% of renters are Black or African American.
Native Hawaiian and Pacific Islander is the least common racial demographic among renters at 0.23%.
28.3% of renters have a bachelor’s degree or higher.
13.6% never graduated high school.
13.32% of millennial renters say they will always rent because they will never be able to afford to buy a home.
In 2019, 8.28% of millennial renters indicated they would never be able to afford to buy a home.
13% of millennial renters across the US will be able to afford a traditional 20% down payment within the next five years.

Bar Graph: Ethnic and Racial Demographics Among Renting Householders

Rental Property Statistics

More than half of rental properties were constructed between 1960 and 1999. The average apartment is a 2- to 3-bedroom unit in a multi-unit structure.

18.12% of occupied rental properties were constructed in the 21^st Century.
44% of rental properties are suburban.
41% of rentals in the U.S. are urban.
15% are considered rural
26% of renters live in detached single family homes.
18% of renters live in buildings with fewer than 10 units.
18% of renters live in a building with 50+ units.
17% live in buildings with 10-49 units.
1.87% of occupied rental units have no heat.

Most Expensive U.S. Cities for Renters in 2018
City	Average Monthly Rent*
Manhattan, NY	$4,366
San Francisco, CA	$3,794
Boston, MA	$3,591
San Mateo, CA	$3,444
Cambridge, MA	$3,311
Sunnyvale, CA	$3,129
Santa Clara, CA	$3,105
Jersey City, NJ	$3,078
Brooklyn, NY	$2,969

*2018 data adjusted for inflation to 2021 US$.

Rental Employment Statistics

The residential building rental industry employs more people than automotive equipment rentals and consumer goods rentals combined.

357,300 American taxpayers receive income from leasing residential buildings.
The average residential lessor works 36.5 hours per week with no overtime.
The average residential lessor makes $30.60 hourly or $1,116.90 weekly.
Real estate rental and leasing directly and indirectly employs at least 1.757 million.
Women are 15.26% less likely to work as residential real estate lessors than they are at any other nonfarm-related job.
The average employee in the nonresidential rental industry made $65,971 annually in February 2021.
Nonresidential lessors made $68,175 per year and property managers make $64,113 in February 2021.

Rental Statistics by State

Renters are more than twice as likely to have a bachelor’s degree than they are to not have a high school diploma. One out of every 20 renters lives in the same apartment for more than 20 years.

The average U.S. state has 864,274 renting households.
In the average state, 34.17% of all households rent.
The average median gross rent is $1,034.
4.84% of renters in the average state pay no rent.
35.96% of renters are under 35 years old.
16.83% of renters are aged 65 or older.
California has the highest number of rental units.
The District of Columbia has the highest household rentership rate followed by New York.
Hawaii has the highest median gross rent.
The lowest median gross rent is in West Virginia.
West Virginia also has the highest rate of renters who pay 0% rent.
Maine has the highest rate of renters aged 65 years or older.
North Dakota’s renters are the youngest.

Rental Statistics by State
State	% of Population Renting†	Median Monthly Rent
Alabama	26.2%	$800
Alaska	29.3%	$1,203
Arizona	30.5%	$1,149
Arkansas	30.8%	$760
California	41.6%	$1,661
Colorado	29.6%	$1,401
Connecticut	29.0%	$1,217
Delaware	25.1%	$1,133
District of Columbia	56.3%	$1,701
Florida	31.3%	$1,270
Georgia	31.5%	$1,080
Hawaii	31.7%	$1,704
Idaho	23.6%	$923
Illinois	28.9%	$1,065
Indiana	24.8%	$850
Iowa	23.1%	$785
Kansas	28.0%	$877
Kentucky	28.6%	$795
Louisiana	29.2%	$866
Maine	20.8%	$903
Maryland	29.3%	$1,425
Massachusetts	32.3%	$1,449
Michigan	22.7%	$908
Minnesota	21.2%	$1,070
Mississippi	28.1%	$779
Missouri	28.0%	$841
Montana	27.3%	$854
Nebraska	26.7%	$870
Nevada	39.5%	$1,229
New Hampshire	22.0%	$1,179
New Jersey	32.9%	$1,394
New Mexico	25.9%	$834
New York	40.9%	$1,358
North Carolina	30.5%	$943
North Dakota	28.4%	$748
Ohio	28.5%	$831
Oklahoma	29.1%	$811
Oregon	32.6%	$1,239
Pennsylvania	26.2%	$979
Rhode Island	31.4%	$1,069
South Carolina	26.8%	$937
South Dakota	25.4%	$724
Tennessee	30.1%	$907
Texas	32.6%	$1,113
Utah	24.0%	$1,158
Vermont	23.5%	$1,007
Virginia	30.1%	$1,269
Washington	32.2%	$1,401
West Virginia	23.2%	$723
Wisconsin	26.2%	$872
Wyoming	22.7%	$800

†Note that this is the total renting population, not the rentership rate among households, which are listed in the individual state sections below.

Alabama Renting Statistics

Alabama’s median gross rent is among the nation’s lowest.

29.07% of households rent their homes.
The median gross rent is $800, down 0.87% YoY.
The rental vacancy rate is 12.8%.
2.3 people live in the average renting household.
1.75% of rent-paying households pay $2,000 or more per month to rent their home.
9.70% of renting households pay no cash rent.
35.2% of renters are under 35 years old.
15.0% are 65 or older.
15.7% of renters are not high school graduates.
20.7% of renters have a bachelor’s degree or higher.
5.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (52.2%) and Black or African American (42.6%).

Alaska Renting Statistics

Alaska has the highest rate of American Indian and Alaska Native rentership in the nation; it’s over 50% higher than in South Dakota.

32.66% of households rent their homes.
The median gross rent is $1,203, up 0.17% YoY.
The rental vacancy rate is 3.9%.
2.5 people live in the average renting household.
9.92% of rent-paying households pay $2,000 or more per month to rent their home.
8.76% of occupied units are not rent-paying.
36.7% of renters are under 35 years old.
11.7% are 65 or older.
7.6% of renters are not high school graduates.
23.7% of renters have a bachelor’s degree or higher.
2.5% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (64.5%), Caucasian (59.8%), and American Indian and Alaska Native (15.9%).

Arizona Renting Statistics

Arizona is one of the few states where the median gross rent declined from 2019 to 2020.

32.87% of households rent their homes.
The median gross rent is $1,149, up 4.36% YoY.
The rental vacancy rate is 4.7%.
2.4 people live in the average renting household.
7.39% of rent-paying households pay $2,000 or more per month in rent.
5.82% of occupied units are not rent-paying.
35.6% of renters are under 35 years old.
15.6% are 65 or older.
13.6% of renters are not high school graduates.
25.0% of renters have a bachelor’s degree or higher.
2.8% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (75.8%), Caucasian (52.1%), and Hispanic or Latino (30.6%).

Arkansas Renting Statistics

The average renter is less educated than renters in other states.

32.41% of households rent their homes.
The median gross rent is $760, up 2.43% YoY.
The rental vacancy rate is 6.8%.
2.4 people live in the average renting household.
1.29% of rent-paying households pay $2,000 or more per month in rent.
10.24% of occupied units are not rent-paying.
37.0% of renters are under 35 years old.
15.6% are 65 or older.
13.8% of renters are not high school graduates.
17.7% of renters have a bachelor’s degree or higher.
3.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (67.4%), Caucasian (63.4%), and Black or African American (24.7%).

California Renting Statistics

California has the nation’s third-highest rentorship rate and the third-highest median gross rent.

43.84% of households rent their homes.
The median gross rent is $1,661, up 2.91% YoY.
The rental vacancy rate is 4.8%.
2.8 people live in the average renting household.
33.49% of rent-paying households pay $2,000 or more per month in rent.
3.44% of occupied units are not rent-paying.
30.5% of renters are under 35 years old.
15.2% are 65 or older.
17.4% of renters are not high school graduates.
32.6% of renters have a bachelor’s degree or higher.
6.8% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (59.4%), Caucasian (36.9%) and Hispanic or Latino (36.9%).

Colorado Renting Statistics

Renters are more likely to be young and well-educated than in other states.

33.21% of households rent their homes.
The median gross rent is $1,401, up 2.34% YoY.
The rental vacancy rate is 4.1%.
2.3 people live in the average renting household.
15.23% of rent-paying households pay $2,000 or more per month in rent.
3.73% of occupied units are not rent-paying.
42.2% of renters are under 35 years old.
13.0% are 65 or older.
8.9% of renters are not high school graduates.
35.3% of renters have a bachelor’s degree or higher.
2.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (80.4%), Caucasian (63.1%), and Hispanic or Latino (23.8%).

Connecticut Renting Statistics

Renters are more likely to be older and move less.

34.01% of households rent their homes.
The median gross rent is $1,217, up 3.40% YoY.
The rental vacancy rate is 5.4%.
2.1 people live in the average renting household.
12.61% of rent-paying households pay $2,000 or more per month in rent.
3.83% of occupied units are not rent-paying.
28.7% of renters are under 35 years old.
19.3% are 65 or older.
14.7% of renters are not high school graduates.
28.8% of renters have a bachelor’s degree or higher.
6.0% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (64.6%), Caucasian (51.8%), Hispanic or Latino (24.5%), and Black or African American (17.9%).

Delaware Renting Statistics

Delaware’s demographics are on par with nationwide demographics.

27.98% of households rent their homes.
The median gross rent is $1,133, up 1.52% YoY.
The rental vacancy rate is 3.8%.
2.2 people live in the average renting household.
5.00% of rent-paying households pay $2,000 or more per month in rent.
4.60% of occupied units are not rent-paying.
36.0% of renters are under 35 years old.
15.6% are 65 or older.
13.3% of renters are not high school graduates.
26.4% of renters have a bachelor’s degree or higher.
3.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (52.2%), Caucasian (43.7%), and Black or African American (38.4%).

District of Columbia Renting Statistics

Renters are more educated than in any state and most have a college degree. D.C. likely has such a high percentage of renters due to federal employees, politicians, interns, journalists and civil servants who either stay in the city for (inde)finite periods or expect relocate soon/suddenly.

59.60% of households rent their homes.
The median gross rent is $1,701, up 6.11%% YoY.
2.2 people live in the average renting household.
36.87% of rent-paying households pay $2,000 or more per month in rent.
1.61% of occupied units are not rent-paying.
41.5% of renters are under 35 years old.
14.2% are 65 or older.
8.9% of renters are not high school graduates.
54.3% of renters have a bachelor’s degree or higher.
6.8% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are Black or African American (47.5%), White, including Caucasian, Hispanic or Latino (41.7%), and Caucasian (36.9%).

Florida Renting Statistics

Renters tend to be a little older and more educated.

31.72% of households rent their homes.
The median gross rent is $1,270, up 2.58% YoY.
The rental vacancy rate is 7.5%.
2.6 people live in the average renting household.
11.88% of rent-paying households pay $2,000 or more per month in rent.
4.40% of occupied units are not rent-paying.
29.6% of renters are under 35 years old.
16.1% are 65 or older.
12.9% of renters are not high school graduates.
27.2% of renters have a bachelor’s degree or higher.
2.8% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (69.2%), Caucasian (43.9%), Hispanic or Latino (31.1%), and Black or African American (21.8%).

Georgia Renting Statistics

Georgia’s renting statistics are on par with nationwide data.

34.47% of households rent their homes.
The median gross rent is $1,080, up 2.96% YoY.
The rental vacancy rate is 5.5%.
2.4 people live in the average renting household.
5.42% of rent-paying households pay $2,000 or more per month in rent.
5.08% of occupied units are not rent-paying.
35.9% of renters are under 35 years old.
13.5% are 65 or older.
14.1% of renters are not high school graduates.
26.9% of renters have a bachelor’s degree or higher.
3.5% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are Black or African American (46.2%), White, including Caucasian, Hispanic or Latino (43.9%), and Caucasian (39.0%).

Hawaii Renting Statistics

Hawaii is the most expensive state for renters. Renters tend to be older and more educated.

35.23% of households rent their homes.
The median gross rent is $1,704, up 3.21% YoY.
The rental vacancy rate is 6.8%.
2.6 people live in the average renting household.
37.34% of rent-paying households pay $2,000 or more per month in rent.
6.34% of occupied units are not rent-paying.
29.0% of renters are under 35 years old.
18.7% are 65 or older.
8.2% of renters are not high school graduates.
29.4% of renters have a bachelor’s degree or higher.
7.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (33.7%), Caucasian (28.8%), Asian (28.5%), and Two or More Races (17.4%).

Idaho Renting Statistics

With some of the most affordable rental housing in the nation, Idaho’s renters tend to be younger and less likely to have a college degree.

27.25% of households rent their homes.
The median gross rent is $923, up 4.89% YoY.
The rental vacancy rate is 4.0%.
2.3 people live in the average renting household.
2.87% of rent-paying households pay $2,000 or more per month in rent.
7.61% of occupied units are not rent-paying.
42.0% of renters are under 35 years old.
15.3% are 65 or older.
10.2% of renters are not high school graduates.
22.0% of renters have a bachelor’s degree or higher.
2.8% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (86.5%), Caucasian (78.8%), and Hispanic or Latino (13.5%).

Illinois Renting Statistics

Median gross rents vary widely throughout different municipalities in the state though overall median rent is on par with the national average.

33.20% of households rent their homes.
The median gross rent is $1,065, 4.41% YoY.
The rental vacancy rate is 8.0%.
2.2 people live in the average renting household.
9.23% of rent-paying households pay $2,000 or more per month in rent.
4.35% of occupied units are not rent-paying.
35.4% of renters are under 35 years old.
17.1% are 65 or older.
11.9% of renters are not high school graduates.
31.8% of renters have a bachelor’s degree or higher.
5.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (60.5%), Caucasian (51.0%), Black or African American (25.4%), and Hispanic or Latino (16.5%).

Indiana Renting Statistics

Renters are generally older and less educated.

28.61% of households rent their homes.
The median gross rent is $850, up 1.19% YoY.
The rental vacancy rate is 7.8%.
2.2 people live in the average renting household.
1.88% of rent-paying households pay $2,000 or more per month in rent.
6.05% of occupied units are not rent-paying.
37.2% of renters are under 35 years old.
15.6% are 65 or older.
12.8% of renters are not high school graduates.
20.4% of renters have a bachelor’s degree or higher.
3.6% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (72.3%), Caucasian (68.0%), and Black or African American (19.7%).

Iowa Renting Statistics

Rent prices are among the lowest in the nation, with the second-largest average rent decline YoY.

27.54% of households rent their homes.
The median gross rent is $785, down 2.85% YoY.
The rental vacancy rate is 7.6%.
2.0 people live in the average renting household.
2.32% of rent-paying households pay $2,000 or more per month in rent.
6.84% of occupied units are not rent-paying.
41.9% of renters are under 35 years old.
18.0% are 65 or older.
9.9% of renters are not high school graduates.
22.5% of renters have a bachelor’s degree or higher.
4.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (82.8%), Caucasian (77.5%), and Black or African American (9.4%).

Kansas Renting Statistics

Rent is less expensive and rental vacancy is higher than average.

32.49% of households rent their homes.
The median gross rent is $877, up 1.74% YoY.
The rental vacancy rate is 8.3%.
2.1 people live in the average renting household.
2.51% of rent-paying households pay $2,000 or more per month in rent.
5.75% of occupied units are not rent-paying.
40.4% of renters are under 35 years old.
16.2% are 65 or older.
10.1% of renters are not high school graduates.
25.7% of renters have a bachelor’s degree or higher.
3.0% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (77.4%), Caucasian (69.5%), and Hispanic or Latino (11.5%).

Kentucky Renting Statistics

Rent prices are lower than they are in 90% of states, and renters are less educated.

31.64% of households rent their homes.
The median gross rent is $795, up 2.85% YoY.
The rental vacancy rate is 6.8%.
2.2 people live in the average renting household.
1.61% of rent-paying households pay $2,000 or more per month in rent.
9.06% of occupied units are not rent-paying.
36.5% of renters are under 35 years old.
15.1% are 65 or older.
14.3% of renters are not high school graduates.
19.7% of renters have a bachelor’s degree or higher.
2.5% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (78.6%), Caucasian (75.6%), and Black or African American (15.7%).

Louisiana Renting Statistics

Louisiana renters are some of the most impoverished and least educated.

31.51% of households rent their homes.
The median gross rent is $866, a 0.00% change YoY.
The rental vacancy rate is 6.1%.
2.4 people live in the average renting household.
2.05% of rent-paying households pay $2,000 or more per month in rent.
10.33% of occupied units are not rent-paying.
35.0% of renters are under 35 years old.
15.4% are 65 or older.
17.4% of renters are not high school graduates.
18.2% of renters have a bachelor’s degree or higher.
5.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (47.9%), Black or African American (46.9%), and Caucasian (43.3%).

Maine Renting Statistics

Renters are among the nation’s oldest and more impoverished.

25.54% of households rent their homes.
The median gross rent is $903, 3.79% YoY.
The rental vacancy rate is 2.5%.
1.8 people live in the average renting household.
3.68% of rent-paying households pay $2,000 or more per month in rent.
10.90% of occupied units are not rent-paying.
32.2% of renters are under 35 years old.
24.7% are 65 or older.
9.5% of renters are not high school graduates.
25.6% of renters have a bachelor’s degree or higher.
6.6% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (93.7%), Caucasian (92.3%), and Black or African American (2.5%).

Maryland Renting Statistics

Rent prices are very high and renters have higher incomes in general.

33.11% of households rent their homes.
The median gross rent is $1,425, up 1.71% YoY.
The rental vacancy rate is 4.8%.
2.3 people live in the average renting household.
18.09% of rent-paying households pay $2,000 or more per month in rent.
3.24% of occupied units are not rent-paying.
30.0% of renters are under 35 years old.
18.2% are 65 or older.
12.1% of renters are not high school graduates.
34.4% of renters have a bachelor’s degree or higher.
4.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are Black or African American (43.8%), White, including Caucasian, Hispanic or Latino (43.3%), and Caucasian (39.2%).

Massachusetts Renting Statistics

Renters in Massachusetts are the most educated among the states and second only to D.C. in the rate of college-educated renters.

37.66% of households rent their homes.
The median gross rent is $1,449, 6.54% YoY.
The rental vacancy rate is 4.5%.
2.1 people live in the average renting household.
27.14% of rent-paying households pay $2,000 or more per month in rent.
3.67% of occupied units are not rent-paying.
32.4% of renters are under 35 years old.
20.5% are 65 or older.
13.0% of renters are not high school graduates.
37.8% of renters have a bachelor’s degree or higher.
6.8% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (70.3%), Caucasian (60.6%), and Hispanic or Latino (18.7%).

Michigan Renting Statistics

Households are less likely to rent than they are in most other states.

26.78% of households rent their homes.
The median gross rent is $908, up 2.25% YoY.
The rental vacancy rate is 5.9%.
2.1 people live in the average renting household.
3.33% of rent-paying households pay $2,000 or more per month in rent.
5.24% of occupied units are not rent-paying.
35.2% of renters are under 35 years old.
18.0% are 65 or older.
11.5% of renters are not high school graduates.
23.1% of renters have a bachelor’s degree or higher.
4.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (64.2%), Caucasian (60.6%), and Black or African American (26.9%).

Minnesota Renting Statistics

Households are the third-least likely to rent.

26.12% of households rent their homes.
The median gross rent is $1,070, up 5.31% YoY.
The rental vacancy rate is 8.9%.
2.0 people live in the average renting household.
63.28% of rent-paying households pay $2,000 or more per month in rent.
4.91% of occupied units are not rent-paying.
38.1% of renters are under 35 years old.
20.0% are 65 or older.
10.0% of renters are not high school graduates.
30.1% of renters have a bachelor’s degree or higher.
3.5% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (73.6%), Caucasian (69.7%), and Black or African American (13.8%).

Mississippi Renting Statistics

Some of the nation’s poorest and least educated renters live in Mississippi.

29.84% of households rent their homes.
The median gross rent is $779, up 0.26% YoY.
The rental vacancy rate is 10.1%.
2.4 people live in the average renting household.
0.46% of rent-paying households pay $2,000 or more per month in rent.
13.51% of occupied units are not rent-paying.
32.9% of renters are under 35 years old.
15.1% are 65 or older.
17.6% of renters are not high school graduates.
16.6% of renters have a bachelor’s degree or higher.
6.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are Black or African American (55.8%), White, including Caucasian, Hispanic or Latino (40.9%), and Caucasian (39.2%).

Missouri Renting Statistics

Rent prices are lower than average while rental vacancy is higher.

32.08% of households rent their homes.
The median gross rent is $841, 0.84% YoY.
The rental vacancy rate is 10.4%.
2.1 people live in the average renting household.
2.68% of rent-paying households pay $2,000 or more per month in rent.
6.59% of occupied units are not rent-paying.
37.6% of renters are under 35 years old.
17.1% are 65 or older.
11.8% of renters are not high school graduates.
23.7% of renters have a bachelor’s degree or higher.
3.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian or Hispanic or Latino (71.1%), Caucasian (68.5%), and Black or African American (21.5%).

Montana Renting Statistics

Rental prices are lower than average, and renters are more likely to be under 35 years old.

30.06% of households rent their homes.
The median gross rent is $854, up 2.77% YoY.
The rental vacancy rate is 4.3%.
2.1 people live in the average renting household.
3.26% of rent-paying households pay $2,000 or more per month in rent.
10.21% of occupied units are not rent-paying.
41.1% of renters are under 35 years old.
17.6% are 65 or older.
6.1% of renters are not high school graduates.
28.0% of renters have a bachelor’s degree or higher.
4.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (85.6%), Caucasian (82.5%), and American Indian or Alaska Native (8.2%).

Nebraska Renting Statistics

Most renters are under 35 and a little less likely to have a college degree.

32.34% of households rent their homes.
The median gross rent is $870, up 1.28% YoY.
The rental vacancy rate is 5.2%.
2.0 people live in the average renting household.
2.51% of rent-paying households pay $2,000 or more per month in rent.
6.81% of occupied units are not rent-paying.
41.7% of renters are under 35 years old.
16.8% are 65 or older.
9.5% of renters are not high school graduates.
26.9% of renters have a bachelor’s degree or higher.
4.9% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (82.0%), Caucasian (73.7%), and Hispanic or Latino (11.3%).

Nevada Renting Statistics

Renters are less educated and have higher incomes.

41.08% of households rent their homes.
The median gross rent is $1,229, up 5.22% YoY.
The rental vacancy rate is 4.2%.
2.5 people live in the average renting household.
7.19% of rent-paying households pay $2,000 or more per month in rent.
3.40% of occupied units are not rent-paying.
30.8% of renters are under 35 years old.
16.9% are 65 or older.
14.3% of renters are not high school graduates.
21.2% of renters have a bachelor’s degree or higher.
2.1% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (61.3%), Caucasian (46.9%), Hispanic or Latino (26.3%), and Black or African American (16.0%).

New Hampshire Renting Statistics

Renters are among the nation’s oldest, and rental vacancy is exceptionally low.

26.75% of households rent their homes.
The median gross rent is $1,179, up 2.79% YoY.
The rental vacancy rate is 3.0%.
2.0 people live in the average renting household.
7.79% of rent-paying households pay $2,000 or more per month in rent.
4.90% of occupied units are not rent-paying.
31.4% of renters are under 35 years old.
22.5% are 65 or older.
9.3% of renters are not high school graduates.
28.4% of renters have a bachelor’s degree or higher.
5.1% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (91.0%), Caucasian (87.3%), and Hispanic or Latino (5.7%).

New Jersey Renting Statistics

Rent is among the nation’s highest, and rental vacancy is low.

36.34% of households rent their homes.
The median gross rent is $1,394, up 1.31% YoY.
The rental vacancy rate is 3.5%.
2.4 people live in the average renting household.
17.60% of rent-paying households pay $2,000 or more per month in rent.
3.13% of occupied units are not rent-paying.
26.5% of renters are under 35 years old.
19.2% are 65 or older.
13.7% of renters are not high school graduates.
32.1% of renters have a bachelor’s degree or higher.
7.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (57.1%), Caucasian (39.4%), Hispanic or Latino (28.5%), and Black or African American (22.9%).

New Mexico Renting Statistics

Rent prices are low as renting households are more likely to be low-income.

29.81% of households rent their homes.
The median gross rent is $834, down 1.53% YoY.
The rental vacancy rate is 6.5%.
2.2 people live in the average renting household.
1.95% of rent-paying households pay $2,000 or more per month in rent.
9.62% of occupied units are not rent-paying.
35.8% of renters are under 35 years old.
16.9% are 65 or older.
15.2% of renters are not high school graduates.
26.3% of renters have a bachelor’s degree or higher.
5.2% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (74.7%), Hispanic or Latino (44.3%), and Caucasian (40.7%).

New York Renting Statistics

New Yorkers are more than twice as likely to live in one apartment long-term than in any other state.

44.90% of households rent their homes.
The median gross rent is $1,358, up 3.74% YoY.
The rental vacancy rate is 6.8%.
2.3 people live in the average renting household.
23.59% of rent-paying households pay $2,000 or more per month in rent.
3.46% of occupied units are not rent-paying.
28.6% of renters are under 35 years old.
21.0% are 65 or older.
15.6% of renters are not high school graduates.
34.9% of renters have a bachelor’s degree or higher.
15.6% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (53.7%), Caucasian (44.3%), Hispanic or Latino (25.1%), and Black or African American (22.2%).

North Carolina Renting Statistics

Rent prices are lower than average. Rental vacancy is also low.

32.80% of households rent their homes.
The median gross rent is $943, up 1.29% YoY.
The rental vacancy rate is 4.4%.
2.3 people live in the average renting household.
3.29% of rent-paying households pay $2,000 or more per month in rent.
7.06% of occupied units are not rent-paying.
36.1% of renters are under 35 years old.
14.7% are 65 or older.
13.2% of renters are not high school graduates.
26.5% of renters have a bachelor’s degree or higher.
4.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (56.3%), Caucasian (60.7%), and Black or African American (34.0%).

North Dakota Renting Statistics

Rental prices are among the nation’s lowest, and rental vacancy is extremely high.

35.33% of households rent their homes.
The median gross rent is $748, down 6.97% YoY.
The rental vacancy rate is 12.9%.
1.9 people live in the average renting household.
2.72% of rent-paying households pay $2,000 or more per month in rent.
6.43% of occupied units are not rent-paying.
48.5% of renters are under 35 years old.
14.9% are 65 or older.
7.7% of renters are not high school graduates.
24.3% of renters have a bachelor’s degree or higher.
3.0% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (77.4%), Caucasian (74.7%), and Black or African American (7.6%).

Ohio Renting Statistics

Rent prices are lower and renters are less educated.

32.78% of households rent their homes.
The median gross rent is $831, up 2.21% YoY.
The rental vacancy rate is 6.5%.
2.1 people live in the average renting household.
2.35% of rent-paying households pay $2,000 or more per month in rent.
5.21% of occupied units are not rent-paying.
35.9% of renters are under 35 years old.
17.1% are 65 or older.
12.2% of renters are not high school graduates.
21.8% of renters have a bachelor’s degree or higher.
2.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (68.8%), Caucasian (65.7%), and Black or African American (24.0%).

Oklahoma Renting Statistics

Renters are younger and less educated than in other states.

31.99% of households rent their homes.
The median gross rent is $811, down 0.37% YoY.
The rental vacancy rate is 5.4%.
2.3 people live in the average renting household.
1.82% of rent-paying households pay $2,000 or more per month in rent.
9.25% of occupied units are not rent-paying.
38.9% of renters are under 35 years old.
14.4% are 65 or older.
13.5% of renters are not high school graduates.
19.3% of renters have a bachelor’s degree or higher.
3.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (66.6%), Caucasian (58.8%), and Black or African American (13.0%).

Oregon Renting Statistics

Rent prices are higher than average, and households are more likely to rent.

36.64% of households rent their homes.
The median gross rent is $1,239, up 4.56% YoY.
The rental vacancy rate is 4.7%.
2.2 people live in the average renting household.
10.37% of rent-paying households pay $2,000 or more per month in rent.
4.38% of occupied units are not rent-paying.
35.6% of renters are under 35 years old.
17.3% are 65 or older.
9.3% of renters are not high school graduates.
29.4% of renters have a bachelor’s degree or higher.
3.1% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (82.3%), Caucasian (74.2%), and Hispanic or Latino (13.0%).

Pennsylvania Renting Statistics

Households are less likely to rent, and renters are older than in other states.

30.58% of households rent their home.
The median gross rent is $979, up 2.94% YoY.
The rental vacancy rate is 6.5%.
2.0 people live in the average renting household.
6.21% of rent-paying households pay $2,000 or more per month in rent.
5.70% of occupied units are not rent-paying.
34.2% of renters are under 35 years old.
20.6% are 65 or older.
11.9% of renters are not high school graduates.
27.0% of renters have a bachelor’s degree or higher.
6.2% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (70.7%), Caucasian (65.7%), and Black or African American (19.0%).

Puerto Rico Renting Statistics

Renters are 21.6% more likely to be high school dropouts than renters in any state. Puerto Rican renters are also the least likely to move after New Yorkers.

31% of households rent their home.
24.8% of renters are under 35 years old.
21.5% are 65 or older.
21.5% are 65 or older.
21.4% are not high school graduates.
20.8% have a bachelor’s degree or higher.
20.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are Hispanic or Latino (98.3%), White, including Caucasian, Hispanic or Latino (57.2%), and Black or African American (12.0%).
21.3% of renters identify as another, unspecified race.

Rhode Island Renting Statistics

Households are more likely to rent, and the average renter age is among the highest in the nation.

35.44% of households rent their home.
The median gross rent is $1,069, up 2.49% YoY.
The rental vacancy rate is 2.2%.
2.1 people live in the average renting household.
7.31% of rent-paying households pay $2,000 or more per month in rent.
4.25% of occupied units are not rent-paying.
28.4% of renters are under 35 years old.
22.2% are 65 or older.
15.6% of renters are not high school graduates.
27.2% of renters have a bachelor’s degree or higher.
5.9% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (74.0%), Caucasian (63.6%), and Hispanic or Latino (21.0%).

South Carolina Renting Statistics

Households are much less likely to rent their homes.

28.28% of households rent their homes.
The median gross rent is $937, up 1.63% YoY.
The rental vacancy rate is 6.6%.
2.4 people live in the average renting household.
3.60% of rent-paying households pay $2,000 or more per month in rent.
10.29% of occupied units are not rent-paying.
34.6% of renters are under 35 years old.
14.6% are 65 or older.
15.6% of renters are not high school graduates.
20.9% of renters have a bachelor’s degree or higher.
5.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (51.6%), Caucasian (48.3%), and Black or African American (41.3%).

South Dakota Renting Statistics

Rent prices are among the nation’s lowest, and renters are more likely to be low-income.

29.14% of households rent their homes.
The median gross rent is $724, down 5.85% YoY.
The rental vacancy rate is 8.7%.
2.1 people live in the average renting household.
1.08% of rent-paying households pay $2,000 or more per month in rent.
8.29% of occupied units are not rent-paying.
40.4% of renters are under 35 years old.
19.7% are 65 or older.
9.4% of renters are not high school graduates.
23.3% of renters have a bachelor’s degree or higher.
5.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (78.8%), Caucasian (75.5%), and American Indian or Alaska Native (10.5%).

Tennessee Renting Statistics

Renters are less likely to have finished high school and more likely to be low-income.

32.84% of households rent their homes.
The median gross rent is $907, up 0.33% YoY.
The rental vacancy rate is 7.6%.
2.3 people live in the average renting household.
3.72% of rent-paying households pay $2,000 or more per month in rent.
7.74% of occupied units are not rent-paying.
37.5% of renters are under 35 years old.
14.0% are 65 or older.
14.0% of renters are not high school graduates.
23.4% of renters have a bachelor’s degree or higher.
4.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (65.0%), Caucasian (60.5%), and Black or African American (28.6%).

Texas Renting Statistics

Renters are less educated, and rental vacancy is very high.

36.98% of households rent their homes.
The median gross rent is $1,113, up 2.02% YoY.
The rental vacancy rate is 7.9%.
2.5 people live in the average renting household.
7.25% of rent-paying households pay $2,000 or more per month in rent.
4.97% of occupied units are not rent-paying.
39.3% of renters are under 35 years old.
11.7% are 65 or older.
15.5% of renters are not high school graduates.
27.2% of renters have a bachelor’s degree or higher.
2.9% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (65.7%), Caucasian (37.6%), Hispanic or Latino (35.6%), and Black or African American (20.7%).

Utah Renting Statistics

Renters are among the youngest in the nation.

28.68% of households rent their homes.
The median gross rent is $1,158, up 5.46% YoY.
The rental vacancy rate is 4.6%.
2.5 people live in the average renting household.
5.76% of rent-paying households pay $2,000 or more per month in rent.
4.37% of occupied units are not rent-paying.
48.4% of renters are under 35 years old.
10.0% are 65 or older.
8.6% of renters are not high school graduates.
26.7% have a bachelor’s degree or higher.
1.8% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (83.4%), Caucasian (71.3%), and Hispanic or Latino (18.1%).

Vermont Renting Statistics

Renting is less popular with households and renters are more likely to be over the age of 65.

27.39% of households rent their homes.
The median gross rent is $1,007, up 2.76% YoY.
The rental vacancy rate is 1.8%.
1.9 people live in the average renting household.
6.97% of rent-paying households pay $2,000 or more per month in rent.
7.36% of occupied units are not rent-paying.
36.7% of renters are under 35 years old.
20.2% are 65 or older.
9.5% of renters are not high school graduates.
32.7% have a bachelor’s degree or higher.
5.3% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (90.4%), Caucasian (88.7%), and Black or African American (4.1%).

Virginia Renting Statistics

Rent prices are higher than average.

33.44% of households rent their homes.
The median gross rent is $1,269, up 1.20% YoY.
The rental vacancy rate is 4.4%.
2.3 people live in the average renting household.
16.22% of rent-paying households pay $2,000 or more per month in rent.
4.99% of occupied units are not rent-paying.
35.4% of renters are under 35 years old.
14.9% are 65 or older.
12.1% of renters are not high school graduates.
34.3% have a bachelor’s degree or higher.
4.4% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (57.8%), Caucasian (51.8%), and Black or African American (29.6%).

Washington Renting Statistics

Households are more likely to rent. Renters are also more educated.

36.28% of households rent their homes.
The median gross rent is $1,401, up 3.09% YoY.
The rental vacancy rate is 5.3%.
2.2 people live in the average renting household.
20.13% of rent-paying households pay $2,000 or more per month in rent.
4.24% of occupied units are not rent-paying.
39.3% of renters are under 35 years old.
15.3% are 65 or older.
9.6% of renters are not high school graduates.
32.4% have a bachelor’s degree or higher.
3.1% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (71.3%), Caucasian (64.4%), and Hispanic or Latino (13.1%).

West Virginia Renting Statistics

Fewer households rent in West Virginia. The state also has the lowest median gross rent nationwide and the highest rate of rental tenants who pay zero (0) dollars in rent.

25.83% of households rent their homes.
The median gross rent is $723, down 0.55% YoY.
The rental vacancy rate is 6.0%.
2.1 people live in the average renting household.
0.95% of rent-paying households pay $2,000 or more per month in rent.
15.57% of occupied units are not rent-paying.
34.9% of renters are under 35 years old.
18.0% are 65 or older.
15.5% of renters are not high school graduates.
15.5% have a bachelor’s degree or higher.
7.5% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (89.3%), Caucasian (88.8%), and Black or African American (7.3%).

Wisconsin Renting Statistics

Rent prices are much lower than average.

31.47% of households rent their homes.
The median gross rent is $872, 0.58% YoY.
The rental vacancy rate is 3.5%.
2.0 people live in the average renting household.
2.51% of rent-paying households pay $2,000 or more per month in rent.
4.87% of occupied units are not rent-paying.
37.6% of renters are under 35 years old.
19.1% are 65 or older.
9.6% of renters are not high school graduates.
24.5% have a bachelor’s degree or higher.
4.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (77.5%), Caucasian (72.6%), and Black or African American (12.8%).

Wyoming Renting Statistics

Rent prices are low, and renting households are more likely to be low-income.

25.92% of households rent their homes.
The median gross rent is $800, down 2.68% YoY.
The rental vacancy rate is 7.5%.
2.1 people live in the average renting household.
2.51% of rent-paying households pay $2,000 or more per month in rent.
4.87% of occupied units are not rent-paying.
42.5% of renters are under 35 years old.
14.4% are 65 or older.
5.6% of renters are not high school graduates.
24.2% have a bachelor’s degree or higher.
2.7% of renting households have lived in their home for more than 20 years.
The largest racial demographics among renters are White, including Caucasian, Hispanic or Latino (89.4%), Caucasian (80.8%), and Hispanic or Latino (11.5%).

National Map: Rentership Among Households

Renting Statistics