Median gross rent and median selected monthly owner costs describe different tenure groups. Comparing them is descriptive and does not answer whether an individual should rent or buy.
Rent vs. Own: State-by-State Comparison
| Rank | State | Avg Rent | Avg Owner Cost | Difference | Cheaper Option |
|---|---|---|---|---|---|
| 1 | Florida | $1,304/mo | $1,039/mo | $265/mo | Own |
| 2 | Alaska | $1,248/mo | $998/mo | $250/mo | Own |
| 3 | Arizona | $1,074/mo | $849/mo | $225/mo | Own |
| 4 | New Mexico | $905/mo | $711/mo | $194/mo | Own |
| 5 | South Carolina | $985/mo | $791/mo | $194/mo | Own |
| 6 | West Virginia | $777/mo | $598/mo | $179/mo | Own |
| 7 | Louisiana | $914/mo | $738/mo | $176/mo | Own |
| 8 | Mississippi | $805/mo | $676/mo | $129/mo | Own |
| 9 | Nevada | $1,169/mo | $1,040/mo | $129/mo | Own |
| 10 | Texas | $995/mo | $879/mo | $116/mo | Own |
| 11 | Alabama | $820/mo | $706/mo | $114/mo | Own |
| 12 | Arkansas | $774/mo | $663/mo | $111/mo | Own |
| 13 | Tennessee | $893/mo | $788/mo | $105/mo | Own |
| 14 | Oklahoma | $839/mo | $755/mo | $84/mo | Own |
| 15 | Georgia | $965/mo | $905/mo | $60/mo | Own |
| 16 | North Carolina | $977/mo | $927/mo | $50/mo | Own |
| 17 | Kentucky | $793/mo | $753/mo | $40/mo | Own |
| 18 | Colorado | $1,303/mo | $1,272/mo | $31/mo | Own |
| 19 | Delaware | $1,347/mo | $1,332/mo | $15/mo | Own |
| 20 | Idaho | $968/mo | $968/mo | Same | Rent |
| 21 | Montana | $842/mo | $842/mo | Same | Rent |
| 22 | Michigan | $906/mo | $918/mo | $12/mo | Rent |
| 23 | North Dakota | $773/mo | $785/mo | $12/mo | Rent |
| 24 | Pennsylvania | $991/mo | $1,010/mo | $19/mo | Rent |
| 25 | Missouri | $783/mo | $803/mo | $20/mo | Rent |
| 26 | Virginia | $1,170/mo | $1,190/mo | $20/mo | Rent |
| 27 | Oregon | $1,191/mo | $1,215/mo | $24/mo | Rent |
| 28 | Indiana | $911/mo | $951/mo | $40/mo | Rent |
| 29 | Utah | $1,149/mo | $1,201/mo | $52/mo | Rent |
| 30 | Kansas | $802/mo | $861/mo | $59/mo | Rent |
| 31 | Maine | $1,020/mo | $1,079/mo | $59/mo | Rent |
| 32 | Nebraska | $797/mo | $860/mo | $63/mo | Rent |
| 33 | South Dakota | $785/mo | $853/mo | $68/mo | Rent |
| 34 | Washington | $1,251/mo | $1,320/mo | $69/mo | Rent |
| 35 | Ohio | $904/mo | $974/mo | $70/mo | Rent |
| 36 | Illinois | $867/mo | $960/mo | $93/mo | Rent |
| 37 | Wyoming | $941/mo | $1,036/mo | $95/mo | Rent |
| 38 | Hawaii | $1,730/mo | $1,834/mo | $104/mo | Rent |
| 39 | Iowa | $832/mo | $950/mo | $118/mo | Rent |
| 40 | Wisconsin | $916/mo | $1,072/mo | $156/mo | Rent |
| 41 | Minnesota | $938/mo | $1,116/mo | $178/mo | Rent |
| 42 | New York | $1,168/mo | $1,352/mo | $184/mo | Rent |
| 43 | California | $1,691/mo | $1,881/mo | $190/mo | Rent |
| 44 | Maryland | $1,459/mo | $1,660/mo | $201/mo | Rent |
| 45 | Vermont | $1,132/mo | $1,370/mo | $238/mo | Rent |
| 46 | New Hampshire | $1,318/mo | $1,576/mo | $258/mo | Rent |
| 47 | Rhode Island | $1,441/mo | $1,883/mo | $442/mo | Rent |
| 48 | Connecticut | $1,454/mo | $1,920/mo | $466/mo | Rent |
| 49 | Massachusetts | $1,616/mo | $2,087/mo | $471/mo | Rent |
| 50 | New Jersey | $1,635/mo | $2,126/mo | $491/mo | Rent |
| 51 | District of Columbia | $1,954/mo | $2,596/mo | $642/mo | Rent |
Methodology and limitations
Figures use the U.S. Census Bureau ACS 2020–2024 5-Year Estimates. County rankings describe this one statistical release; they do not measure current listings, price changes, market causes, or future conditions.
State and regional figures shown here are unweighted means of county estimates, not official household-weighted statewide medians. Use the linked county reports and Census source tables to verify each observation.
Data source: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2020-2024). All figures are estimates based on survey data and may not reflect current market conditions.