Renters in New York spend the most on housing nationwide, according to a recently released study by WalletHub.
The personal finance company analyzed rent, mortgage and home energy costs across all 50 states, added up the costs and compared them to the median household income.
“In some states, housing costs can take up around 50% of the median income in order to manage expensive mortgage payments and other key housing costs,” WalletHub analyst Chip Lupo says. “It’s important for homeowners to budget effectively.”
Here’s a look at how New York compares to other states.
WalletHub’s top 10 states where renters spend the most on housing
Data used to create the ranking was collected as of March 26, 2025 and the information was sourced from the Council for Community and Economic Research, the U.S. Census Bureau, Zillow and WalletHub research.
Here’s the top 10 states where renters spend the most on housing, according to WalletHub, including the state’s cost of housing as a share of median monthly household income.
WalletHub’s top 10 states where homeowners spend the most on housing
Here’s the top 10 states where homeowners spend the most on housing, according to WalletHub, including the state’s cost of housing as a share of median monthly household income.
New York found itself just outside of WalletHub’s top 10 states where homeowners spend the most on housing as it’s cost of housing as a share of median monthly household income of 30.70% landed the state in the No. 12 position.
Buffalo one of best cities for renting in U.S.
Earlier this year, Buffalo received the title of hottest major housing market in 2025, according to Zillow.
According to Zillow’s analysis, the Queen City has the most new jobs per new home permitted — a measure of expected housing in ratio to new residents brought to the area by new jobs. Lower-than-average home prices and rent costs in Buffalo bolstered demand and helped to push it to the top spot.
Clever Real Estate also named the Buffalo as the nation’s most affordable city for minimum-wage earners who are renting in the city in November 2024 as the city requires 39% of a person’s income to rent a typical one-bedroom unit.
Emily Barnes reports on consumer-related issues for the USA TODAY Network’s New York Connect Team, focusing on scam and recall-related topics. Follow her on X and Instagram @byemilybarnes. Get in touch at ebarnes@gannett.com.
This article originally appeared on Rochester Democrat and Chronicle: NY renters spend most on housing in U.S., study says. Here’s how the state compares
Reporting by Emily Barnes, New York Connect Team / Rochester Democrat and Chronicle
USA TODAY Network via Reuters Connect
