States With the Highest Rents in 2022 | Best States

Rental markets for a one particular-bed room apartment rose in states all across The united states in the previous year, in accordance to details from on line listing market Apartment Listing. The normal rent estimate rose by at minimum 5% in all 47 reported states from June 2021 to June 2022, with 39 states seeing double-digit % boosts in that time. (Data is unavailable for Montana, West Virginia and Vermont.)

The nonpartisan knowledge heart USAFacts reports that for many years between 30% and 40% of U.S. households have been leasing their residences. But nationwide lease surges disproportionately affect racial minorities, who hire at considerably increased costs than white People. According to U.S. Census info, a lot less than 31% of white American households ended up renting their properties in 2019, in comparison to 59% of Black American homes and 53% of Hispanic homes. Black American households account for 20% of renter-occupied housing models inspite of creating up just 8% of households general.

Renters can assume to locate the best one-bed room rents mostly in coastal states, with Hawaii’s typical figure of $1,823 leading all reporting states and New York coming in following-best at $1,703. Immediately after Hawaii, 12 of the leading 13 states are positioned on the coasts, with 9th-ranked Colorado the lone exception.

These are the states with the highest one particular-bedroom hire estimates, according to Condominium Checklist: 

Each state in the dataset knowledgeable greater lease estimates in June 2022 than a yr prior. Florida’s rents surged the most each in terms of complete enhance and by share improve, with the one particular-bed room estimates increasing 22.6% ($263) calendar year-over-12 months. Tennessee (18.6%), South Dakota (18.4%), New York (18.2%) and North Carolina (18.%) rounded out the major 5 most pronounced proportion will increase.

Most states have skilled even extra pronounced boosts because the start out of the pandemic, such as extraordinary spikes in several Western states recognised for their purely natural elegance. From March 2020 by means of June, Idaho (45.8%), New Mexico (34.9%), Arizona (34.7%), Nevada (33.3%) and Utah (30.2%) all saw a person-bed room estimates improve by more than 30%. Altogether, 45 of the 47 states noticed hire charges improve by extra than 10% in excess of the 27-thirty day period interval.

These states’ a person-bed room rent estimates enhanced the most considering that the get started of the pandemic, according to Condominium Checklist: 

At the onset of the pandemic, renters had been shielded by a federal moratorium on evictions, to start with as a provision in the Coronavirus Support, Reduction and Financial Protection (CARES) Act and then imposed by the Facilities for Disorder Command and Avoidance. In August 2021, the Supreme Court docket dominated the CDC’s moratorium unconstitutional.