Hawaii renters spent more of their monthly income on rent in 2021 than residents in any other state.
Renters in the islands spent an average of 42.1% of their monthly income on rent, according to moving experts at Forbes Home, which studies the personal finance industry.
Hawaii residents’ average monthly rent in 2021 was $2,136. Their average monthly income was $5,079, while their average yearly income was $60,947.
California ranked second with its renters spending 28.5%, or $1,818 of their monthly $6,385 income, on rent. New Jersey was third at 27.5%, followed by Massachusetts at 26.2% and Delaware at 25.8%.
Alaska (25.6%), Maryland (25.4%), Rhode Island (25.3%), Oregon (25%) and Arizona (24.7%) rounded out the top 10.
“Many of the states that made this list also made our list for top states people were moving to in 2021 and 2022, so it’s no surprise that we are seeing an average rent increase in these areas that have gotten an influx of new residents,” a Forbes Advisor said.
The top 10 states people moved to in 2021, according to U.S. Postal Service change-of-address data, were Texas, Florida, South Carolina, North Carolina, Georgia, Tennessee, Nevada, Maine, Delaware and Idaho.
The top 10 states people left in 2021 were California, New York, Illinois, Pennsylvania, Massachusetts, Washington, Colorado, Indiana, Michigan and Wisconsin.
