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States Ranked by How Much of Residents’ Income Goes Toward Housing

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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 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 62.5% of their income on housing costs, and homeowners spend 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 20.3% and homeowners pay 20.4% 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 61.3%.

“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. Iowa

Aerial View of the Des Moine, Iowa Skyline facing West

Iowa is the most affordable state for homeowners, who spend 17.26% of their income on housing.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 17.26%

Renters’ housing cost burden: 20.95%

Median household income: $75,501

49. Oklahoma

Skyline of Oklahoma City, Oklahoma.

Oklahoma ranks 50th for renters, giving it the lightest renter burden in the country.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 20.36%

Renters’ housing cost burden: 20.29%

Median household income: $66,148

48. Kansas

Aerial view of Kansas City skyline at dusk, viewed from Penn Valley Park. Kansas City is the largest city in Missouri.

Kansas places 48th for homeowners, making it one of the easiest states on owners’ budgets.

Mihai_Andritoiu/Shutterstock

Homeowners’ housing cost burden: 18.64%

Renters’ housing cost burden: 23.55%

Median household income: $75,514

47. South Dakota

Ariel view of Rapid City, South Dakota.

South Dakota’s median household income is $76,881.

Mihai Andritoiu/Shutterstock

Homeowners’ housing cost burden: 21.18%

Renters’ housing cost burden: 21.86%

Median household income: $76,881

46. Minnesota

Ariel view of Minneapolis, Minnesota.

Minnesota is one of the states where renter and homeowner burdens are closest, with a difference of 0.36 percentage points, per WalletHub’s study.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 22.41%

Renters’ housing cost burden: 22.05%

Median household income: $87,117

45. Arkansas

Hot Springs, Arkansas, USA town skyline from above at dawn.

Arkansas lands 43rd on WalletHub’s homeowners’ housing burden rank.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 19.93%

Renters’ housing cost burden: 24.87%

Median household income: $62,106

44. Nebraska

Buildings in Lincoln, Nebraska.

Despite its more affordable homeownership burden, Nebraska’s rent burden ranks 36th nationally.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 19.34%

Renters’ housing cost burden: 25.91%

Median household income: $76,376

43. Missouri

St. Louis, Missouri, USA downtown cityscape on the Mississippi River at twilight.

Missouri comes 37th for homeowners and 43rd for renters.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 20.68%

Renters’ housing cost burden: 24.58%

Median household income: $71,589

42. North Dakota

Aerial View of Grand Forks, North Dakota in Autumn

North Dakota’s median household income stands at $77,871.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 20.36%

Renters’ housing cost burden: 25.01%

Median household income: $77,871

41. Indiana

Aerial Autumn Urban Park and Cityscape, Fort Wayne

Indiana ranks 35th for renters, making it cheaper for tenants than many neighboring states.

Nicholas J Klein/Shutterstock

Homeowners’ housing cost burden: 19.70%

Renters’ housing cost burden: 26.49%

Median household income: $71,959

40. West Virginia

Charleston, West Virginia, USA downtown skyline on the river at dusk.

West Virginia is the second-most affordable state for homeowners, who spend 18.39% of their income on housing.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 18.39%

Renters’ housing cost burden: 28.32%

Median household income: $60,798

39. Ohio

Aerial view of Cleveland, Ohio skyline at sunset. Cleveland is a major city in the U.S. state of Ohio and the county seat of Cuyahoga County.

Ohio ranks 31st for renters, who pay 27.10% of their income on housing, WalletHub reported.

Mihai_Andritoiu/Shutterstock

Homeowners’ housing cost burden: 19.68%

Renters’ housing cost burden: 27.10%

Median household income: $72,212

38. Alabama

Huntsville, Alabama, USA park and downtown cityscape at twilight.

Alabama ranks 33rd out of all states for the share of income homeowners pay on housing costs.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 21.63%

Renters’ housing cost burden: 25.51%

Median household income: $66,659

37. Michigan

Grand Rapids, Michigan, USA downtown skyline in autumn season.

Michigan ties for 27th on the renter ranking, with renters paying 27.47% of their income on housing.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 20.39%

Renters’ housing cost burden: 27.47%

Median household income: $72,389

36. Texas

Austin, Texas, USA downtown skyline on the Colorado River.

Texas households have a median income of $79,721.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 22.63%

Renters’ housing cost burden: 25.26%

Median household income: $79,721

35. Virginia

Richmond, Virginia, USA downtown skyline on the James River.

Virginia ranks 19th for homeowners, having higher homeownership costs than other Southern states.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 24.95%

Renters’ housing cost burden: 23.66%

Median household income: $92,090

34. Wisconsin

Madison skyline and Wisconsin State Capitol. The Wisconsin State Capitol, houses both chambers of the Wisconsin legislature, Supreme Court and the Office of the Governor.

Wisconsin ranks 30th for renters, who spend about 27.42% of their income on housing in the state.

Mihai_Andritoiu/Shutterstock

Homeowners’ housing cost burden: 21.50%

Renters’ housing cost burden: 27.42%

Median household income: $77,488

33. Kentucky

Louisville, Kentucky, USA skyline on the river at dusk.

Kentucky ranks 23rd for renters, but homeowners spend a slightly higher share of their income than neighboring states.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 20.34%

Renters’ housing cost burden: 29.14%

Median household income: $64,526

32. Mississippi

Jackson, Mississippi, USA skyline over the Capitol Building.

Mississippi’s median household income is $59,127, one of the lowest among all states.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 20.13%

Renters’ housing cost burden: 29.45%

Median household income: $59,127

31. Wyoming

Aerial View of Cheyenne, Wyoming at Dusk during Winter

Wyoming is one of the markets where the difference between homeowners’ and renters’ burden is the narrowest, with a difference of only 0.12 percentage points.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 24.91%

Renters’ housing cost burden: 25.03%

Median household income: $75,532

30. Georgia

Atlanta, Georgia, USA downtown skyline.

Georgia ranks 33rd for renters, with renters spending about 26.84% of their income on average.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 23.87%

Renters’ housing cost burden: 26.84%

Median household income: $79,991

29. Alaska

Anchorage Alaska skyline in winter at dusk with the Chugach mountains behind.

Alaska’s median household income is $95,665, which is among the top 10 highest in the nation.

Rex Lisman/Shutterstock

Homeowners’ housing cost burden: 24.21%

Renters’ housing cost burden: 26.53%

Median household income: $95,665

28. Utah

An aerial view of downtown provo Utah

Despite relatively affordable rents, Utah homeowners have the 11th highest housing burden in the US.

Allison H. Smith/Shutterstock

Homeowners’ housing cost burden: 30.01%

Renters’ housing cost burden: 21.73%

Median household income: $96,658

27. North Carolina

Buildings in Raleigh, North Carolina.

North Carolina ties with Michigan for 27th on the renter burden ranking.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 24.35%

Renters’ housing cost burden: 27.47%

Median household income: $73,958

26. Delaware

Houses and a church in Dover, Delaware.

Delaware has a median household income of $87,534.

DenisTangneyJr/Getty Images

Homeowners’ housing cost burden: 25.42%

Renters’ housing cost burden: 27.43%

Median household income: $87,534

25. Louisiana

Shreveport, Louisiana.

Despite relatively affordable homeownership costs, Louisiana ranks 16th for renter burden.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 21.90%

Renters’ housing cost burden: 31.42%

Median household income: $60,986

24. South Carolina

Charleston city downtown skyline, cityscape of South Carolina in USA

South Carolina comes in 29th for homeowners, who spend an average of 23.51% of their income on housing.

f11photo/Shutterstock

Homeowners’ housing cost burden: 23.51%

Renters’ housing cost burden: 29.99%

Median household income: $72,350

23. Pennsylvania

Aerial view of Pittsburgh, Pennsylvania.

Pennsylvania ranks 13th for renters.

Alizada Studios/Shutterstock

Homeowners’ housing cost burden: 21.00%

Renters’ housing cost burden: 34.04%

Median household income: $77,545

22. New Hampshire

Skyline of Manchester, New Hampshire.

New Hampshire households earn a median income of $99,782.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 24.68%

Renters’ housing cost burden: 30.89%

Median household income: $99,782

21. Tennessee

Nashville, Tennessee, USA. Cityscape image of Nashville, Tennessee, USA downtown skyline with reflection of the city the Cumberland River at spring sunrise.

Tennessee ranks 17th among states for renters.

Rudy Balasko/Shutterstock

Homeowners’ housing cost burden: 24.87%

Renters’ housing cost burden: 31.31%

Median household income: $71,997

20. New Mexico

Santa Fe, New Mexico, USA downtown skyline at dusk.

New Mexico ranks 15th for renters, who spend an average of 32.53% of their income on housing.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 23.72%

Renters’ housing cost burden: 32.53%

Median household income: $67,816

19. Colorado

Aerial drone photo - Rugged Rocky Mountains of Breckenridge, Colorado.

Colorado is the sixth-least affordable state for homeowners, WalletHub reported.

Nicholas Courtney/Shutterstock

Homeowners’ housing cost burden: 32.58%

Renters’ housing cost burden: 24.59%

Median household income: $97,113

18. Idaho

Downtown Boise, Idaho skyline and the snow covered foothills and Bogus Basin Ski Resort in March of 2024

Idaho ranks eighth for homeowner burden despite a slightly lower renter burden.

CSNafzger/Shutterstock

Homeowners’ housing cost burden: 30.88%

Renters’ housing cost burden: 27.91%

Median household income: $81,166

17. Nevada

Aerial View of the Nevada Capitol of Carson City

Nevada ranks 7th highest share of income for homeowners, who pay an average of 32.36% of their income on housing.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 32.36%

Renters’ housing cost burden: 27.02%

Median household income: $81,134

16. Maryland

Baltimore, Maryland, USA Skyline over the Inner Harbor at dusk.

Maryland ranks 12th for renters, who spend over 35% of their income on housing each month.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 24.00%

Renters’ housing cost burden: 35.44%

Median household income: $102,905

15. New Jersey

Newark, New Jersey, USA skyline on the Passaic River.

New Jersey’s median household income is $104,294, the second-highest in the country.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 26.13%

Renters’ housing cost burden: 33.53%

Median household income: $104,294

14. Arizona

Tucson, Arizona.

Both renters and homeowners spend around 30% of their income on housing in Arizona.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 29.97%

Renters’ housing cost burden: 30.46%

Median household income: $81,486

13. Illinois

Chicago, Illinois

Illinois has the seventh-highest housing burden for renters.

Moses P/Shutterstock

Homeowners’ housing cost burden: 19.70%

Renters’ housing cost burden: 40.96%

Median household income: $83,211

12. Washington

Seattle downtown skyline and Mount Rainier, Washington.

Washington is the fifth-least affordable housing market for homeowners, WalletHub reported.

SCStock/Getty Images

Homeowners’ housing cost burden: 32.97%

Renters’ housing cost burden: 28.23%

Median household income: $99,389

11. Montana

Aerial view of buildings in Bozeman, Montana.

Both renters and owners spend over 30% of their income on housing in Montana.

Framalicious/Shutterstock

Homeowners’ housing cost burden: 30.47%

Renters’ housing cost burden: 31.05%

Median household income: $75,340

10. Vermont

Aerial view of Stowe Vermont and the Green Mountains with autumn colors.

Vermont has the 10th-highest renter burden in the US.

John Couture/Shutterstock

Homeowners’ housing cost burden: 25.12%

Renters’ housing cost burden: 37.55%

Median household income: $82,730

9. Connecticut

Aerial view of Hartford, Connecticut.

Connecticut’s median household income stands at $96,049, among the highest in the nation.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 24.89%

Renters’ housing cost burden: 38.58%

Median household income: $96,049

8. Oregon

Aerial View of Portland, Oregon at Dusk.

Oregon is the fourth-least affordable state for homeowners in the US.

Jacob Boomsma/Getty Images

Homeowners’ housing cost burden: 33.56%

Renters’ housing cost burden: 37.22%

Median household income: $85,220

7. Rhode Island

Aerial view of Providence, Rhode Island.

Rhode Island has the sixth-highest housing burden on renters.

Jacob Boomsma/Shutterstock

Homeowners’ housing cost burden: 28.77%

Renters’ housing cost burden: 43.57%

Median household income: $83,504

6. Florida

Skyline of Jacksonville, Florida.

Florida has one of the widest renter-owner divides, with a 15.53 percentage point gap.

RudyBalasko/Getty Images

Homeowners’ housing cost burden: 29.16%

Renters’ housing cost burden: 44.69%

Median household income: $77,735

5. Maine

Portland, Maine, USA downtown city skyline at dusk.

Maine ranks third for renters, giving it one of the toughest tenant markets in the country.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 26.60%

Renters’ housing cost burden: 52.72%

Median household income: $76,442

4. California

Downtown Sacramento, California, skyline.

California is the second-most housing-burdened US state for homeowners.

Dee Liu/Getty Images

Homeowners’ housing cost burden: 43.00%

Renters’ housing cost burden: 39.84%

Median household income: $100,149

3. Massachusetts

Boston, Massachusetts, USA skyline with Faneuil Hall and Quincy Market at dusk.

As well as having the highest median household income in the nation, Massachusetts is the third-most housing-burdened state in the US.

Sean Pavone/Shutterstock

Homeowners’ housing cost burden: 33.67%

Renters’ housing cost burden: 51.47%

Median household income: $104,828

2. New York

The New York City skyline.

New York is the second-least affordable US state for renters, with a housing burden that is over 30 percentage points higher for renters than homeowners.

Alexander Spatari/Getty Images

Homeowners’ housing cost burden: 30.41%

Renters’ housing cost burden: 61.28%

Median household income: $85,820

1. Hawaii

Sunrise above Waikiki Beach in Honolulu, Hawaii. Famous surfers destination on the island

Hawaii is the most housing-burdened state in the US, with both renters and owners spending over half of their income on housing.

marchello74/Shutterstock

Homeowners’ housing cost burden: 50.02%

Renters’ housing cost burden: 62.52%

Median household income: $100,745



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