Where to Live: Median Rent and Largest Industry in 50 States

No matter where you live, finding an apartment that’s affordable, safe and not awful-looking can be a challenge. With the rising price of rent in growing cities and the trends of more people choosing to live in apartments versus traditional homes, deciding where to move can be a tricky business.

Even more, if you’re thinking about making a long distance move across the country (or even a few states away!) the prices in rent can vary drastically.

According to SmartAsset, the median  annual income (= half earn more and half less) for a millennial is $35,592. Use MFA’s Affordable Rent Calculator, this means an average millennial would be able to spend $890 on rent per month, which is only a bit below the national median rent. While $890 may not rent many places in America’s largest cities, it will be able to find you a nice place in smaller and more up and coming parts of the country.

To make your search a bit easier, we’ve compiled a list of the median rents (=half of all renters pay more and half pay less) in all 50 states as well as the top employment industry in each. So if you’re looking at places to live, or looking at relocating to a different state – this list can help guide you.

These prices have been taken from statistics within the U.S. Census Bureau in 2015 and have been adjusted for inflation for 2018. This median prices are subject to change due to housing market changes and fluctuations in the economy.

NATIONAL MEDIAN RENT = $949

Alabama: $650 – Largest Industry: Healthcare Services

Alaska: $930 – Largest Industry: Oil and Gas Extraction

Arizona: $820 – Largest Industry: Health Care Services

Arkansas: $570 – Largest Industry: Health Care Services

California: $1,430 – Largest Industry: Computers and Electronics Manufacturing

Colorado: $1,000 – Largest Industry: Oil and Gas Extraction

Connecticut: $1,070 – Largest Industry: Insurance

Delaware: $960 – Largest Industry: Insurance

Washington D.C.: $1,450 – Largest Industry: Politics

Florida: $950 – Largest Industry: Health Care Services

Georgia: $850 – Largest Industry: Broadcasting and Telecommunications

Hawaii: $1,480 – Largest Industry: Hospitality and Tourism

Idaho: $640 – Largest Industry: Computers and Electronics Manufacturing

Illinois: $900 – Largest Industry: Insurance

Indiana: $650 – Largest Industry: Manufacturing

Iowa: $610 – Largest Industry: Insurance

Kansas: $650 – Largest Industry: Health Care Services

Kentucky: $600 – Largest Industry: Health Care Services

Louisiana: $700 – Largest Industry: Petroleum and Coal Manufacturing

Maine: $780 – Largest Industry: Residential Care Facilities

Maryland: $1,220 – Largest Industry: Health Care Services

Massachusetts: $1,270 – Largest Industry: Residential Care Facilities

Michigan: $710 – Largest Industry: Residential Care Facilities

Minnesota: $840 – Largest Industry: Health Care Services

Mississippi: $650 – Largest Industry: Health Care Services

Missouri: $660 –  Largest Industry: Residential Care Facilities

Montana: $620 – Largest Industry: Residential Care Facilities

Nebraska: $640 – Largest Industry: Insurance

Nevada: $860 – Largest Industry: Hospitality

New Hampshire: $1,010 – Largest Industry: Insurance

New Jersey: $1,230 – Largest Industry: Health Care Services

New Mexico: $660 – Largest Industry: Oil and Gas Extraction

New York: $1,260 – Largest Industry: Banking and Credit Services

North Carolina: $730 – Largest Industry: Chemical Product Manufacturing

North Dakota: $610 – Largest Industry: Oil and Gas Extraction

Ohio: $650 – Largest Industry: Residential Care Facilities

Oklahoma: $600 – Largest Industry: Oil and Gas Extraction

Oregon: $990 – Largest Industry: Computer and Electronics Manufacturing

Pennsylvania: $820 – Largest Industry: Broadcasting and Telecommunications

Rhode Island: $950 – Largest Industry: Residential Care Facilities

South Carolina: $760 – Largest Industry: Health Care Services

South Dakota: $560 – Largest Industry: Banks and Credit Services

Tennessee: $690 – Largest Industry: Health Care Services

Texas: $830 – Largest Industry: Oil and Gas Extraction

Utah: $790 – Largest Industry: Banks and Credit Services

Vermont: $970 – Largest Industry: Health Care Services

Virginia: $1,030 – Largest Industry: Administrative Services

Washington: $1,140 – Largest Industry: Publishing Industries

West Virginia: $600 – Largest Industry: Mining

Wisconsin: $670 – Largest Industry: Insurance

Wyoming: $610 – Largest Industry: Oil and Gas Extraction

We’re lucky to be in a country that not only provides a wide variety of industries to work in but also provides a wide variety of places to live. From mountains to deserts, tropical to snowy – there’s a little something for everyone. While some states tend to have a higher price of living than others, there’s always ways to find that perfect place for you. Happy apartment hunting!

Sources of Statistics:

https://www.census.gov/newsroom/press-releases/2017/acs-5yr.html
Largest Industry in Each State
https://www.census.gov/prod/2003pubs/c2kbr-21.pdf
https://www.bls.gov/opub/ted/2014/ted_20140728.htm

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Author My First Apartment
Nat

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Digital marketing specialist from Milwaukee, WI. I semi-hibernate through Wisconsin winters and eventually make it to spring. My hobbies include reading, piano, the gym (gains?), and spoiling my puppy. I've never met a hobby I didn't like. Follow along on my journey of apartment triumphs and defeats, served with a hearty side of sarcasm.

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