Can You Guess Which State Has the Highest Rent? Surprise: It’s Not Hawai‘i

It’s still more expensive here than California, though.


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Abodo.com recently published an annual rent data report. When looking at state averages, Washington, D.C. (categorized separately from any state but alongside them for this statistic) came in at the top, with an average rent of $2,205 for a one-bedroom. Massachusetts followed at $1,945.

 

And then, there was us. The average rent for a one-bedroom in the state of Hawai‘i was $1,673 in 2017. California ($1,631), and New York ($1,565) were right behind us.

 

Real estate

 

That ballpark isn’t really news to us, but you might be shocked to learn how low rent is in the Southwest. South Dakota had the lowest one-bedroom rent in the country at $525 per month. Right behind South Dakota was New Mexico ($600), Idaho ($603), Kansas ($631) and Oklahoma ($638). If you can handle trading the ocean for the Badlands, or maybe something near the Grand Canyon, you could probably save a lot of money. Or, consider putting homeownership on your list of 2018 goals. Interest rates are still at historic lows, and investment accounts have been doing quite well, making it an opportune time to get into the real estate market.

 

Real estate rent

 

Expensive as the state may be, when comparing cities, Honolulu, at $1,628 for a one-bedroom, doesn’t even come close to the Top 10. San Francisco tops the list at more than double our average rent: $3,333 for a one-bedroom.

 

For the full data and information on how average rents were determined, click here.

 

Live Wellthy

 

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Beautiful beaches, year-round summer weather and that iconic aloha spirit are just a few reasons why we’re lucky we live Hawai‘i. It’s no secret that Hawai‘i is one of the healthiest, happiest states in the nation—or that it’s also one of the most expensive. When you pay to stay in paradise, the high cost of living can often be a challenge. The key to living well while living Hawai‘i boils down to one thing: taking charge of your finances. And it’s easier than you think.

 

HONOLULU Magazine is proud to partner with First Hawaiian Bank for Live Wellthy, your new money-savvy guide to living smarter, happier, and healthier. Here, we’ll cover the most essential topics—money-saving tips, travel hacks, investing and spending wisely, planning for retirement and more—to help you navigate your finances, plan for the future and make your money work for you.

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