10 States Offering the Most (and Least) Space for Your Rent Money
Written by
Brooke Barley
Edited by
Caitlyn Moorhead
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How far does your money go when it comes to renting in the U.S.? Storeganise took a look at the average rent cost per square foot in each state and found out where renters’ dollars will go the furthest — and where they’ll feel the squeeze, so to speak. Check out which states offer the most and least space for renters — ranked in order.
Also here are the top five factors renters look for.
Most Space
1. North Dakota
Those renting in North Dakota are getting the most bang for their buck. Renters pay $1.10 per square foot, which is the lowest rate found in the country. The average rent in North Dakota is $1,057 per month and the average apartment size is 957 square feet.
2. Oklahoma
Renting in Oklahoma yields quite a bit of space for the money. The average apartment size is 856 square feet and the average rent is $1,019, which comes out to $1.19 per square foot. Though apartments aren’t as large as in North Dakota, renters are still getting a pretty good amount of space compared to the rest of the country.
3. Arkansas
Arkansas renters are living in homes around 894 square feet on average. Though that is more space than Oklahoma, they’re also paying more — the average rent is $1,080. This comes out to just slightly more per square foot than Oklahoma at $1.20.
“If maximizing your living space without maxing out your rent is a top priority, heading to the Midwest or South could be your best bet,” said Miles Davison, co-founder and CEO of Storeganise. “States like North Dakota, Oklahoma and Arkansas make it possible to rent larger apartments at significantly lower costs.”
4. South Dakota
North Dakota isn’t the only Dakota getting love on this list — South Dakota renters are also getting a good amount of space. The average apartment size is 901 square feet and the average rent is $1,127, coming out to $1.25 per square foot.
5. Wyoming
Rounding out the top five states giving renters the most space for their money is Wyoming. Renters pay $1,120 on average for homes that are usually around 877 square feet. That’s $1.27 per square foot.
Least Space
1. New York
Now for the other end of the spectrum, renters in New York will find they’ll pay more in rent for less space than anywhere else in the country. On average, New York renters pay $2,722 a month for apartments that are around 842 square feet. That’s a whopping $3.23 per square foot, which is almost three times as much as renting in North Dakota.
2. Massachusetts
It costs renters $3.16 per square foot to live in the Baked Bean State. Apartments are 890 square feet on average for about $2,819 a month.
3. Hawaii
Hawaii and Massachusetts are actually tied for the second least amount of space for renters, as they both cost $3.16 per square foot on average. The average rent in Hawaii is $2,677 for 845 square feet. “Those with their hearts set on the East Coast or Hawaii will need to be prepared to pay a premium for each square foot,” Davison said.
4. California
No one is moving to California for the affordability, and that’s proven on this list. California renters pay $2,555 on average rent for places around 852 square feet. This comes out to $2.99 per square foot.
5. New Jersey
There is not a lot of space for Jersey renters. Average apartments clock in at 856 square feet with a typical price of $2,267 per month. That’s $2.64 per square foot.
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