The place you ultimately choose to settle-down, of course, dictates your monthly budget — and it all starts with your rent. No matter your income, you can’t determine how much you have left for the essentials, for savings and for some fun until you’ve figured out your housing costs.
To find the average cost of rent in every state, GOBankingRates used Apartment List’s monthly rent estimate data, which extrapolates median rent data from the Census Bureau forward to the current month using a growth rate calculated from their listing data.
Averaging the monthly rent estimates for all unit types overall, one-bedroom, and two-bedroom GOBankingRates found the 2023 average typical rent for units of each type in every state. All data was collected on and up-to-date as of May 31st, 2023. Some states — Alaska, Maine, Vermont, and West Virginia — are missing data and therefore they were skipped.
Keep reading to find out the average cost of rent in every state.
