Miami Renters Spend More Of Their Paycheck On Housing Than Anyone Else In U.S.

Renters in Miami are spending a larger share of their income on housing than renters in any other U.S. city, according to a recent study by WalletHub.

The report compared median annual rent with median household income across 182 cities nationwide. Miami ranked last for affordability, with renters dedicating about 33.77% of their income to housing. That’s more than double the share spent in Bismarck, where renters use just 15.29% of their income on rent.

“Renters in more affordable cities have a clear financial advantage, as lower housing costs leave more room for savings or future homeownership,” said WalletHub analyst Chip Lupo

Experts say a major factor behind rising rents is a shortage of housing. Andrew Burnstine, an associate professor at Lynn University, estimates the U.S. is short between 3 and 4 million housing units, driving prices higher as demand outpaces supply. According to the U.S. Census Bureau, about one-third of U.S. households rent their homes.

Other Florida cities also ranked near the bottom. Orlando placed No. 175, with renters spending 28.98% of their income, while Pembroke Pines ranked No. 174 at 28.85%. The state’s best showing was Jacksonville at No. 125, where renters spend 25.16%.

Burnstine also pointed out common renter mistakes, including focusing only on base rent instead of total costs like utilities, parking, and fees—an issue tracked by the U.S. Bureau of Labor Statistics.

“Overlooking lease terms and commute times can also lead to financial strain and reduced well-being,” said Burnstine.

Apartments generally offer convenience, lower upfront costs, and proximity to jobs and amenities, while renting a house provides more space and privacy but often comes with higher costs and greater responsibility.

Lowest to Highest Share of Income Spent on Rent

Most Affordable Cities:

1.  Bismarck — 15.29%
2.  Sioux Falls — 16.35%
3.  Cedar Rapids — 16.48%
4.  Charleston — 16.56%
5.  Fargo — 16.94%
6.  Cheyenne — 17.02%
7.  Juneau — 17.04%
8.  Casper — 17.24%
9.  Anchorage — 17.30%
10. Overland Park — 17.34%

Least Affordable Cities:

173. Birmingham — 28.85%
174. Pembroke Pines — 28.85%
175. Orlando — 28.98%
176. Glendale — 29.62%
177. Bridgeport — 29.65%
178. Jackson — 30.09%
179. New Haven — 31.41%
180. Newark — 32.09%
181. Detroit — 32.27%
182. Miami — 33.77%

Source: Islander News