Rents in the United States hit a record high in April, according to real estate listing site Realtor.com, with rents up 16.7% from a year earlier. On the other hand, over the previous five years, gross rents increased by 18.1%.
Rising house prices are a major driver of inflation, which recently hit a multi-decade high in the United States. Rising monthly rents are straining the millions of Americans, usually younger people, who already cannot afford to own a home.
According to the most recent data available from the US Census Bureau’s American Community Survey, the median gross rental price in the United States is $1,096. In some major metropolitan areas, however, monthly housing costs are much lower, giving cash-strapped renters a break.
In the Michigan City-La Porte, Indiana metro area, the median monthly rental price is $763 – 30.4% lower than the national average and among the lowest of any US metro area.
Rental prices partly reflect the value of real estate and houses in a given area. And just as rent prices are below average in Michigan City-La Porte, so are home values. The typical home in the metro area is worth about $139,900, compared to the national median home value of $229,800
All data used in this article on rent prices and home values are five-year estimates from the US Census Bureau’s 2020 American Community Survey.
| Rank | subway station | Median monthly rent ($) | Median home value ($) | Share of dwellings occupied by tenants (%) |
|---|---|---|---|---|
| 1 | Johnstown, Pennsylvania | 635 | 94,900 | 25.3 |
| 2 | Weirton-Steubenville, WV-OH | 650 | 95,400 | 29.0 |
| 3 | Rolling, WV-OH | 657 | 115,200 | 25.5 |
| 4 | Decatur, AL | 666 | 137,600 | 26.5 |
| 5 | Gadsden, AL | 676 | 124,400 | 27.0 |
| 6 | Mansfield, Ohio | 677 | 115 100 | 33.1 |
| seven | Kingsport-Bristol, TN-VA | 678 | 140,800 | 26.5 |
| 8 | Bay City, Michigan | 679 | 106,400 | 23.9 |
| 9 | Youngstown-Warren-Boardman, OH-PA | 683 | 110,300 | 29.7 |
| ten | Florence-Muscle Shoals, AL | 683 | 140,000 | 30.7 |
| 11 | Danville, IL | 683 | 80,900 | 29.2 |
| 12 | Jefferson City, Mo. | 686 | 162 100 | 28.3 |
| 13 | Decatur, IL | 690 | 103 100 | 30.9 |
| 14 | Beckley, West Virginia | 691 | 104 100 | 24.3 |
| 15 | Carbondale-Marion, Illinois | 696 | 118,300 | 37.2 |
| 16 | Fort Smith, AR-OK | 701 | 119,500 | 33.8 |
| 17 | Pocatello, ID | 702 | 165,800 | 31.7 |
| 18 | Cumberland, MD-WV | 708 | 131,300 | 28.3 |
| 19 | Hickory-Lenoir-Morganton, North Carolina | 708 | 139 100 | 26.6 |
| 20 | Parkersburg-Vienna, WV | 710 | 123,800 | 27.2 |
| 21 | Morristown, TN | 715 | 142,800 | 28.2 |
| 22 | Anniston-Oxford, AL | 720 | 121,600 | 29.6 |
| 23 | Dalton, Georgia | 721 | 136,800 | 32.8 |
| 24 | Lima, Ohio | 722 | 120 300 | 33.3 |
| 25 | Muncie, IN | 725 | 96,600 | 35.5 |
| 26 | Pine Bluff, AR | 726 | 85,700 | 34.8 |
| 27 | Charleston, West Virginia | 728 | 110 100 | 27.5 |
| 28 | Johnson City, TN | 734 | 152,600 | 33.0 |
| 29 | Huntington-Ashland, WV-KY-OH | 736 | 123,900 | 28.3 |
| 30 | Monroe, LA | 739 | 134,500 | 36.8 |
| 31 | Terre Haute, IN | 740 | 99,700 | 30.8 |
| 32 | Altoona, Pennsylvania | 741 | 128,200 | 29.7 |
| 33 | Kokomo, IN | 743 | 113,900 | 27.9 |
| 34 | Dothan, AL | 744 | 131,600 | 30.3 |
| 35 | Sheboygan, Wis. | 744 | 165,400 | 29.7 |
| 36 | Brownsville-Harlingen, TX | 746 | 89,700 | 33.8 |
| 37 | Joplin, Missouri | 748 | 126,200 | 33.6 |
| 38 | Canton-Massillon, OH | 750 | 138,300 | 31.2 |
| 39 | McAllen-Edinburgh-Mission, TX | 753 | 90,000 | 32.0 |
| 40 | Texarkana, TX-AR | 753 | 114 100 | 34.2 |
| 41 | Rocky Mount, North Carolina | 753 | 115,400 | 36.4 |
| 42 | Florence, South Carolina | 754 | 125 100 | 33.0 |
| 43 | Niles, MI | 757 | 157,500 | 28.8 |
| 44 | Springfield, Ohio | 757 | 120,500 | 32.9 |
| 45 | Erie, Pennsylvania | 758 | 138,500 | 33.0 |
| 46 | Utica-Rome, NY | 760 | 127,000 | 30.1 |
| 47 | Jonesboro, AR | 761 | 136,000 | 41.9 |
| 48 | Lewiston, ID-WA | 762 | 207 200 | 27.3 |
| 49 | Michigan City-La Porte, IN | 763 | 139,900 | 26.7 |
| 50 | Las Cruces, New Mexico | 765 | 153,600 | 35.4 |
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