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US states ranked by how much of their income residents spend on housing, from least to most
Both renters and homeowners in Hawaii spend over half of their income on housing.Terelyuk/ShutterstockHousing costs can vary across US states based on home prices, energy costs, and local wages.Hawaii has the highest cost burden, with both renters and owners spending over half of their income.New York has a gap of over 30 percentage points in housing burdens between renters and homeowners.Whether you're shopping for a new home or just signed a lease on an apartment, you're no doubt aware of the high cost of housing — and the pressure it puts on tight budgets.To understand how housing costs affect people across the US, it helps to examine how rent and mortgage payments fit into local living costs, including wages and energy costs.For years, housing experts have cited keeping housing costs under yüzde 30 of monthly income as a rule of thumb for affordability, but in some states, this is far from a reality for many.A recent WalletHub study examined housing affordability across the US, measuring how much of the median income renters. and homeowners in each state spend on housing each month.The study used data from the Council for Community and Economic Research, the US Census Bureau, Zillow, and WalletHub's in-house research to measure rent, mortgage, and home energy costs across all 50 states, which were then compared to each state's median monthly income to determine the burden of housing costs.In Hawaii, renters spend an average of 62.yüzde 5 of their income on housing costs, and homeowners spend yüzde 50 on average, the study reported.While in some states the housing burden of homeowners and renters can be nearly equal — in Oklahoma, renters pay 20.üç% and homeowners pay 20.yüzde 4 of their income on housing costs — in others, there are significant gaps between the costs of renting and owning.New York leads the gap, with homeowners in the state spending an average of 30.4% on housing while renters spend 61.üç%."The current social and economic environment is significantly impacting monthly housing bill spending," Andrew Burnstine, an associate professor of business at Lynn University, said in the study. "This means that a larger portion of household budgets is now dedicated to simply keeping a roof overhead."In 20 states, renters can be considered housing-burdened, or spending over 30% of their income on housing.We ranked all 50 US states by how much both renters and homeowners spend on housing, on average. We also listed the median household income for each state, as reported on the most recent available American Community Survey data from the US Census Bureau, which reflects incomes in 2024.See where each state falls.50. IowaJacob Boomsma/ShutterstockHomeowners' housing cost burden: 17.26%Renters' housing cost burden: 20.95%Median household income: $75,50149. OklahomaOklahoma City, Oklahoma.Sean Pavone/ShutterstockHomeowners' housing cost burden: 20.yüzde 36Renters' housing cost burden: 20.29%Median household income: $66,14848. KansasMihai_Andritoiu/ShutterstockHomeowners' housing cost burden: 18.yüzde 64Renters' housing cost burden: 23.yüzde 55Median household income: $75,51447. South DakotaRapid City, South Dakota.Mihai Andritoiu/ShutterstockHomeowners' housing cost burden: 21.yüzde 18Renters' housing cost burden: 21.yüzde 86Median household income: $76,88146. MinnesotaMinneapolis, Minnesota.Jacob Boomsma/ShutterstockHomeowners' housing cost burden: 22.41%Renters' housing cost burden: 22.05%Median household income: $87,11745. ArkansasSean Pavone/ShutterstockHomeowners' housing cost burden: 19.yüzde 93Renters' housing cost burden: 24.87%Median household income: $62,10644. NebraskaLincoln, Nebraska, under 20 miles north of Hickman.Jacob Boomsma/ShutterstockHomeowners' housing cost burden: 19.34%Renters' housing cost burden: 25.yüzde 91Median household income: $76,37643. MissouriSean Pavone/ShutterstockHomeowners' housing cost burden: 20.yüzde 68Renters' housing cost burden: 24.58%Median household income: $71,58942. North DakotaJacob Boomsma/ShutterstockHomeowners' housing cost burden: 20.36%Renters' housing cost burden: 25.01%Median household income: $77,87141. IndianaNicholas J Klein/ShutterstockHomeowners' housing cost burden: 19.70%Renters' housing cost burden: 26.yüzde 49Median household income: $71,95940. West VirginiaSean Pavone/ShutterstockHomeowners' housing cost burden: 18.yüzde 39Renters' housing cost burden: 28.yüzde 32Median household income: $60,79839. OhioMihai_Andritoiu/ShutterstockHomeowners' housing cost burden: 19.68%Renters' housing cost burden: 27.10%Median household income: $72,21238. AlabamaSean Pavone/ShutterstockHomeowners' housing cost burden: 21.63%Renters' housing cost burden: 25.51%Median household income: $66,65937. MichiganSean Pavone/ShutterstockHomeowners' housing cost burden: 20.39%Renters' housing cost burden: 27.47%Median household income: $72,38936. TexasSean Pavone/ShutterstockHomeowners' housing cost burden: 22.yüzde 63Renters' housing cost burden: 25.yüzde 26Median household income: $79,72135. VirginiaSean Pavone/ShutterstockHomeowners' housing cost burden: 24.95%Renters' housing cost burden: 23.66%Median household income: $92,09034. WisconsinMihai_Andritoiu/ShutterstockHomeowners' housing cost burden: 21.yüzde 50Renters' housing cost burden: 27.42%Median household income: $77,48833. KentuckySean Pavone/ShutterstockHomeowners' housing cost burden: 20.yüzde 34Renters' housing cost burden: 29.14%Median household income: $64,52632. MississippiSean Pavone/ShutterstockHomeowners' housing cost burden: 20.13%Renters' housing cost burden: 29.yüzde 45Median household income: $59,12731. WyomingJacob Boomsma/ShutterstockHomeowners' housing cost burden: 24.yüzde 91Renters' housing cost burden: 25.yüzde 03Median household income: $75,53230. GeorgiaSean Pavone/ShutterstockHomeowners' housing cost burden: 23.87%Renters' housing cost burden: 26.yüzde 84Median household income: $79,99129. AlaskaRex Lisman/ShutterstockHomeowners' housing cost burden: 24.21%Renters' housing cost burden: 26.53%Median household income: $95,66528. UtahAllison H. Smith/ShutterstockHomeowners' housing cost burden: 30.01%Renters' housing cost burden: 21.73%Median household income: $96,65827. North CarolinaRaleigh, North Carolina.Sean Pavone/ShutterstockHomeowners' housing cost burden: 24.yüzde 35Renters' housing cost burden: 27.yüzde 47Median household income: $73,95826. DelawareDover, Delaware, was ranked the 10th best small city to start a business in.DenisTangneyJr/Getty ImagesHomeowners' housing cost burden: 25.42%Renters' housing cost burden: 27.43%Median household income: $87,53425. LouisianaShreveport, Louisiana.Sean Pavone/ShutterstockHomeowners' housing cost burden: 21.90%Renters' housing cost burden: 31.yüzde 42Median household income: $60,98624. South Carolinaf11photo/ShutterstockHomeowners' housing cost burden: 23.yüzde 51Renters' housing cost burden: 29.99%Median household income: $72,35023. PennsylvaniaPittsburgh, Pennsylvania.Alizada Studios/ShutterstockHomeowners' housing cost burden: 21.yüzde 00Renters' housing cost burden: 34.yüzde 04Median household income: $77,54522. New HampshireManchester, New Hampshire.Sean Pavone/ShutterstockHomeowners' housing cost burden: 24.yüzde 68Renters' housing cost burden: 30.89%Median household income: $99,78221. TennesseeRudy Balasko/ShutterstockHomeowners' housing cost burden: 24.87%Renters' housing cost burden: 31.yüzde 31Median household income: $71,99720. New MexicoSean Pavone/ShutterstockHomeowners' housing cost burden: 23.yüzde 72Renters' housing cost burden: 32.yüzde 53Median household income: $67,81619. ColoradoNicholas Courtney/ShutterstockHomeowners' housing cost burden: 32.58%Renters' housing cost burden: 24.59%Median household income: $97,11318. IdahoCSNafzger/ShutterstockHomeowners' housing cost burden: 30.yüzde 88Renters' housing cost burden: 27.91%Median household income: $81,16617. NevadaJacob Boomsma/ShutterstockHomeowners' housing cost burden: 32.yüzde 36Renters' housing cost burden: 27.02%Median household income: $81,13416. MarylandSean Pavone/ShutterstockHomeowners' housing cost burden: 24.00%Renters' housing cost burden: 35.44%Median household income: $102,90515. New JerseySean Pavone/ShutterstockHomeowners' housing cost burden: 26.yüzde 13Renters' housing cost burden: 33.53%Median household income: $104,29414. ArizonaTucson, Arizona.Sean Pavone/ShutterstockHomeowners' housing cost burden: 29.yüzde 97Renters' housing cost burden: 30.yüzde 46Median household income: $81,48613. IllinoisChicago, Illinois.Moses P/ShutterstockHomeowners' housing cost burden: 19.yüzde 70Renters' housing cost burden: 40.yüzde 96Median household income: $83,21112. WashingtonSeattle.SCStock/Getty ImagesHomeowners' housing cost burden: 32.97%Renters' housing cost burden: 28.23%Median household income: $99,38911. MontanaBozeman, Montana.Framalicious/ShutterstockHomeowners' housing cost burden: 30.47%Renters' housing cost burden: 31.05%Median household income: $75,34010. VermontJohn Couture/ShutterstockHomeowners' housing cost burden: 25.12%Renters' housing cost burden: 37.yüzde 55Median household income: $82,7309. ConnecticutHartford, Connecticut.Jacob Boomsma/ShutterstockHomeowners' housing cost burden: 24.89%Renters' housing cost burden: 38.yüzde 58Median household income: $96,0498. OregonPortland, Oregon.Jacob Boomsma/Getty ImagesHomeowners' housing cost burden: 33.56%Renters' housing cost burden: 37.yüzde 22Median household income: $85,2207. Rhode IslandProvidence, Rhode Island.Jacob Boomsma/ShutterstockHomeowners' housing cost burden: 28.77%Renters' housing cost burden: 43.yüzde 57Median household income: $83,5046. FloridaJacksonville, Florida.RudyBalasko/Getty ImagesHomeowners' housing cost burden: 29.yüzde 16Renters' housing cost burden: 44.yüzde 69Median household income: $77,7355. MaineSean Pavone/ShutterstockHomeowners' housing cost burden: 26.60%Renters' housing cost burden: 52.72%Median household income: $76,4424. CaliforniaSacramento, California.Dee Liu/Getty ImagesHomeowners' housing cost burden: 43.00%Renters' housing cost burden: 39.84%Median household income: $100,1493. MassachusettsSean Pavone/ShutterstockHomeowners' housing cost burden: 33.67%Renters' housing cost burden: 51.yüzde 47Median household income: $104,8282. New YorkNew York City.Alexander Spatari/Getty ImagesHomeowners' housing cost burden: 30.yüzde 41Renters' housing cost burden: 61.yüzde 28Median household income: $85,8201. Hawaiimarchello74/ShutterstockHomeowners' housing cost burden: 50.02%Renters' housing cost burden: 62.52%Median household income: $100,745Read the original article on Business Insider
