Essential housing affordability data for landlords and real estate investors, distinguishing household cost burdens, ratios of medians, and county wage comparisons.

Rent-to-income ratios help explain how housing costs relate to household earnings, but different studies calculate affordability in different ways. In 2024, the ratio of national median gross rent to median renter-household income was 32.8%. Because this compares two separate national medians and includes utilities, it does not represent the average percentage of income spent by individual renters.

For landlords and real estate investors, rental affordability data provides context for local rent pricing, tenant screening, and portfolio planning. Baselane, a banking and bookkeeping platform for multi-property real estate investors and operators, brings banking, bookkeeping, and financial reporting together by property and entity. It can serve as the financial layer alongside property management tools while owners assess external market data.

Key takeaways

• Renter cost burdens remain widespread. In 2024, 22.7 million households, or 49% of renter households, spent more than 30% of income on rent and utilities.
• The earlier Census estimate is similarly high. In 2023, 49.7% of renter households with calculable burdens spent more than 30% of income on housing costs.
• State ratios differ considerably. In 2024, ratios of median gross rent to median renter-household income ranged from 23.6% in North Dakota to 38.5% in Florida.
• Rents outpaced renter incomes over two decades. From 2001 to 2024, inflation-adjusted median rent increased 30%, while median renter-household income increased 9%.
• Lower-income renters face particularly high housing burdens. In 2024, 67.3% of renter households earning below $30,000 were severely housing-cost-burdened.
• Buying and renting comparisons depend on the measure. ATTOM found lower modeled monthly ownership costs relative to wages in 210 of 364 counties in its 2026 study, excluding the initial cash requirement for a down payment.

National rent-to-income statistics

USAFacts divides national or statewide median gross rent by the corresponding median renter-household income. The Census Bureau, Harvard researchers, and the Congressional Research Service report household-level housing-cost burdens, including utilities. ATTOM compares three-bedroom fair-market rents with average county wages. These methods use different populations, time periods, and denominators and are not directly interchangeable.

1. National median gross rent represented 32.8% of median renter income in 2024

In 2024, national median gross rent, including utilities, was $1,487, while median monthly renter-household income was $4,537. Their ratio was 32.8%, a comparison of two medians rather than a household-level average.

2. National median gross monthly rent reached $1,487 in 2024

USAFacts reports median gross rent of $1,487 per month in 2024. The measure includes utilities and therefore differs from rent-only asking prices.

3. Median monthly renter-household income was $4,537 in 2024

The national median monthly renter-household income was $4,537 in 2024. This figure describes renter households, not all U.S. households.

4. The national median-rent-to-income ratio peaked at 33.8% in 2011

The USAFacts national series reached 33.8% in 2011, following the Great Recession. As with its 2024 figure, the measure divides separate national median values.

5. There were 2.3 million more cost-burdened renter households in 2024 than in 2019

Harvard's 2026 rental housing analysis found 2.3 million more cost-burdened households in 2024 than in 2019. The figure describes the change in the number of households spending more than 30% of income on rent and utilities, not a change in the average rent-to-income ratio.

6. Inflation-adjusted median rent increased 30% from 2001 to 2024

The Harvard study, as summarized by Multifamily Executive, found that national median rents rose 30% after adjusting for inflation between 2001 and 2024. This is a long-term change in rent levels, not a single year's asking-rent growth rate.

7. Inflation-adjusted median renter income increased 9% from 2001 to 2024

Over the same 2001 to 2024 period, inflation-adjusted median renter-household income increased 9%, substantially less than median rents. Comparing these two long-run changes helps explain the persistence of household housing-cost burdens.

Cost-burdened renter household statistics

8. 49.7% of renter households with calculable burdens were cost-burdened in 2023

Of the 42.5 million renter households for which housing-cost burden could be calculated, 49.7%, or more than 21 million households, spent over 30% of income on housing costs in 2023.

9. Median renter housing-cost burden was 31% in both 2022 and 2023

The Census Bureau reported that the median renter housing-cost-to-income ratio remained at 31% in 2022 and 2023. This household-level measure differs from USAFacts' ratio of national medians.

10. About 22.4 million renter households were cost-burdened in 2022

Harvard's America's Rental Housing 2024 report identified 22.4 million renter households spending more than 30% of income on rent and utilities in 2022.

11. Severe burdens affected 12.1 million renter households in 2022

In the same 2022 study, 12.1 million renter households spent more than half their income on housing, meeting the severe cost-burden threshold.

12. About 22.7 million renter households were cost-burdened in 2024

Harvard's 2026 rental housing findings, summarized by the Mortgage Bankers Association, show that 22.7 million renter households, or approximately 49%, spent more than 30% of income on rent and utilities in 2024.

13. Severe burdens affected 12.1 million renter households in 2024

The same research found that 12.1 million renter households devoted more than half of income to rent and utilities in 2024. The figure is reported for 2024, even though it matches the earlier count cited for 2022.

Housing-cost-burden statistics provide market context, while actual rent payment histories provide property-level operating information. Baselane's rent collection features automate invoices, payment reminders, and late fees, and its tenant ledger organizes payments by tenant and property.

Income-based rental affordability statistics

14. Severe cost burdens affected 67.3% of renter households earning under $30,000 in 2024

A Congressional Research Service analysis of the 2024 American Community Survey found that 67.3% of renter households with annual incomes below $30,000 spent more than half their income on housing costs. This severe-burden rate applies to a specified household income group, not all renters.

15. Cost burdens affected 48.7% of renter households earning $45,000 to $74,999 in 2024

In the same 2024 data, 48.7% of renter households with annual incomes from $45,000 through $74,999 spent more than 30% of income on housing costs, according to the Congressional Research Service. This is a cost-burden rate within that income bracket, not the share of all households in the bracket that rent.

Regional rent-to-wage statistics

16. Western counties exceeded the one-third rent-to-wage threshold in 95.4% of cases

In ATTOM's 2026 study, 95.4% of analyzed Western counties had median three-bedroom rents exceeding one-third of average local wages. The denominator is average wages, not renter-household income.

17. Northeastern counties exceeded that threshold in 90.7% of cases

ATTOM reported that 90.7% of analyzed Northeastern counties had median three-bedroom rents above one-third of average local wages in its 2026 study.

18. Southern counties exceeded that threshold in 77.7% of cases

The corresponding figure for counties analyzed in the South was 77.7%. These regional percentages apply to ATTOM's county sample, not all rental households.

State-level rent-to-income statistics

19. Florida's ratio of median gross rent to renter income was 38.5% in 2024

Florida had the highest state-level ratio in the USAFacts comparison at 38.5% in 2024. Its statewide median gross monthly rent was $1,812, and its median monthly renter-household income was $4,705.

20. North Dakota had the lowest state ratio at 23.6% in 2024

North Dakota's ratio of median gross rent to median renter-household income was 23.6% in 2024, the lowest among the states in the USAFacts analysis.

21. South Dakota's state ratio was 25.8% in 2024

South Dakota registered a 25.8% ratio of statewide median gross rent to median renter-household income in 2024, placing it among the lower-ratio states.

State-level figures can inform initial market research, but they cannot replace comparisons between similar properties in the same local rental market. Baselane's property-level reporting lets real estate investors review income, expenses, and financial results by property and entity alongside independently sourced local benchmarks.

Metropolitan and state rental cost-burden statistics

The metropolitan percentages below come from Harvard's America's Rental Housing 2026 study using 2024 household data, as summarized in March 2026. They measure the share of renter households spending more than 30% of income on rent and utilities, not modeled asking-rent-to-income ratios. The subsequent Florida figures use Harvard and Census data reported in June 2026.

22. Miami's renter cost-burden rate reached 63% in 2024

In the Miami market, 63% of renter households spent more than 30% of income on rent and utilities in 2024, according to the Harvard analysis.

23. Orlando's renter cost-burden rate reached 60% in 2024

The Orlando area recorded a 60% renter cost-burden rate in 2024, among the highest for major metropolitan rental markets in the Harvard study.

24. Tampa's renter cost-burden rate reached 59% in 2024

Harvard reported that 59% of Tampa-area renter households were housing-cost-burdened in 2024.

25. North Port's renter cost-burden rate reached 59% in 2024

In the North Port, Florida, market, the share of renters spending more than 30% of income on rent and utilities was 59% in 2024.

26. Deltona's renter cost-burden rate reached 59% in 2024

The Harvard research also identified a 59% renter cost-burden rate in Deltona, Florida, for 2024.

27. Las Vegas' renter cost-burden rate reached 60% in 2024

Outside Florida, Las Vegas registered a 60% renter cost-burden rate in Harvard's 2024 household-data analysis.

28. Florida's statewide renter cost-burden rate was 59% in 2024

Harvard's 2026 housing research found that 59% of Florida renter households spent more than 30% of income on housing and utilities in 2024, the highest reported state rate.

29. Approximately 879,000 Florida renter households paid at least half their income toward housing in 2024

Based on the Census Bureau's 2024 American Community Survey, about 879,000 Florida renter households spent 50% or more of their income on gross rent, including estimated utilities and fuel costs. This statewide count is distinct from the metro-level percentages above.

Renting versus owning affordability statistics

30. Modeled ownership costs were lower in 57.7% of ATTOM's sampled counties

In 210 of 364 counties, or 57.7%, ATTOM calculated that the monthly cost of owning a median-priced single-family home represented a smaller share of average local wages than the median three-bedroom fair-market rent. Its 2026 study uses 2025 rent and home-price data and second-quarter 2024 and 2025 wage data. The homeownership calculation assumes a 20% down payment, but its monthly-cost ratio does not include the upfront cash required for that payment.

31. Three-bedroom rent exceeded one-third of wages in 76.9% of sampled counties

ATTOM found that median three-bedroom rent exceeded one-third of average local wages in 280 of 364 counties, or 76.9%, in its 2026 analysis.

32. Wage changes outpaced three-bedroom rent changes in 76.1% of sampled counties

Average wages increased faster, or declined less, than three-bedroom rents in 277 of 364 counties, or 76.1%, according to ATTOM's 2026 report.

Demographic and income-based rental affordability statistics

33. Cost burdens affected 56.2% of Black-alone renter households in 2023

The Census Bureau found that 56.2%, approximately 4.6 million, of Black or African American alone renter households spent more than 30% of income on housing costs in 2023.

34. Severe burdens affected 30.6% of Black-alone renter households in 2023

About 2.5 million households, or 30.6%, in the same Census group spent more than half their income on housing costs in 2023.

35. Cost-burdened renters earning under $30,000 had $170 after housing costs in 2022

Harvard's America's Rental Housing 2024 report found that cost-burdened renter households with annual incomes below $30,000 had median residual income of $170 per month after paying rent and utilities in 2022. Residual income means income remaining after housing costs, and this historical figure applies to a specific low-income, cost-burdened group, not all renters or the rental market in 2026.

Regional and county-level rental affordability statistics

36. Midwestern counties exceeded the one-third rent-to-wage threshold in 40.7% of cases

In the Midwest, 40.7% of counties analyzed by ATTOM had median three-bedroom rents exceeding one-third of average local wages.

37. Three-bedroom rent equaled 119.4% of average wages in Collier County, Florida

ATTOM's county comparison put median three-bedroom rent at 119.4% of average monthly wages in Collier County, Florida. This is a comparison of county-level benchmarks, not the share of income spent by a particular renter.

38. Three-bedroom rent equaled 97.8% of average wages in Suffolk County, New York

For Suffolk County, New York, ATTOM reported a median three-bedroom-rent-to-average-wage ratio of 97.8% in its 2026 study.

Market performance and trend statistics

39. Home prices outpaced three-bedroom rent changes in 69% of sampled counties

During 2025, median single-family home prices rose faster, or declined less, than median three-bedroom rents in 251 of 364 counties, or 69%, according to ATTOM.

40. Rent burdens increased in 44 states and 88 major metros over five years

Harvard's 2026 rental housing study found that renter housing-cost-burden rates rose in 44 states and 88 of the 100 largest metropolitan areas from 2019 to 2024.

How landlords and real estate investors can use rent-to-income data

Setting appropriate rents

Local comparable properties, verified household income information, and area housing-cost burdens provide a more relevant pricing framework than a national ratio alone. Harvard rental affordability findings reveal substantial differences between metropolitan markets, while property characteristics, lease terms, and local demand remain important to rent setting.

Screening rental applicants consistently

Applicant-specific income records are more relevant to a screening decision than metro-wide affordability averages. Baselane's tenant screening service offers bank, payroll, and document-based income verification. Its published pricing lists a $24.99 basic applicant-paid screening report and optional $10 income verification. Screening standards should be consistent and comply with applicable housing laws.

Organizing banking and cash flow by property and entity

Separate logins and multiple apps can fragment financial records for owners with several properties or entities. Baselane allows owners to open unlimited checking and savings accounts organized by property and entity, and its Banking accounts have no monthly account maintenance fees. Baselane also provides cash flow and NOI reporting to help owners analyze operating results across individual properties and the overall portfolio.

Preparing property-level records for tax reporting

Baselane organizes income and expenses by property and entity and supports Schedule E reports and downloadable financial records. For advanced automation, the optional Baselane Smart subscription, listed at $20 per month, automatically assigns transactions to the appropriate property, entity, and tax category using 120+ real-estate-specific categories. This subscription pricing is separate from Banking's monthly account maintenance fees.

Housing affordability context for investors

The data reveals distinct affordability pressures across incomes and markets. In 2024, 22.7 million renter households were cost-burdened, including 12.1 million with severe burdens. In the same year, 67.3% of renters in households earning under $30,000 were severely cost-burdened, illustrating the importance of income-group context.

For real estate investors, the measures have different applications. A county-level three-bedroom-rent-to-wage ratio is not the observed burden of existing tenants, and a high household burden rate does not establish a specific delinquency or turnover forecast. Local leasing conditions and property-specific financial performance provide additional context.

Baselane brings property- and entity-level banking, bookkeeping and financial reporting, and automated rent collection into one workflow, giving landlords and real estate investors organized operating data to assess alongside independently published affordability statistics.