Earnest investigated the cost of renting in the United States. It's no surprise that California is the most expensive state for renters (median rent: $1,901) or that West Virginia is the least expensive ($800).
But when you look at the percentage of total income spent on rent, a different picture emerges. South Dakotans spend 24.8% of their income on rent, more than any other state. Californians, ranking 6th, spend 20.4%. People in Arkansas spend the lowest percentage of their income on rent (12.8%).
Looking at cities, Los Angeles has the highest median rent of the most populous 100 cities in the US ($2,600). I would have guess San Francisco, but it comes in at number three ($2,333). The least expensive city is Toledo, Ohio ($550), which is one fifth the cost as Los Angeles. (Look at the houses you can rent in Toledo for $500 - $600 a month.)
California experienced a “net outward migration” of 61,100 people in the last twelve months, the biggest exodus since 2011. San Jose Mercury News: The region’s soaring housing prices are a key factor driving dissatisfied residents toward the exit door. Several people who have departed, or soon will leave, say they potentially could have hundreds of […]
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