New York Renters Spend Over 54% Income on Housing, Highest National Burden

New York renters face the highest housing cost burden in the United States, spending approximately 54.52% of their median monthly income on housing expenses, which include rent, mortgage, and energy bills, according to a 2025 WalletHub study. This makes New York the least affordable state for renters nationally, despite homeowners in the state spending a relatively lower 30.7% of their income on housing, ranking the state 12th for homeowner costs. While New York City remains one of the most expensive rental markets, more affordable options like Buffalo offer relief, with renters there spending about 39% of their income on rent, significantly below the state and national urban averages. The affordability crisis is not isolated to New York; other states such as Arizona, Tennessee, and New Mexico have experienced rent increases exceeding 50% over the past five years, driven partly by migration trends and housing demand. Cities in states like North Dakota, South Dakota, and Wyoming exhibit much lower rent-to-income ratios, around 15-17%, highlighting stark regional disparities in housing affordability. These trends underscore a nationwide housing affordability challenge, particularly impacting renters in urban centers where housing costs have outpaced wage growth.