Browse all StateCalc open datasets
Open Dataset
Rent-to-Price Ratio and Gross Rental Yield by State
The measurement behind “can you still hit the 1% rule?” — HUD’s FY2026 two-bedroom Fair Market Rent divided by the June 2026 Zillow Home Value Index, for all 50 states. On statewide medians the answer is currently no states.
0.417%
median state, rent ÷ price per month
0.546%
highest: West Virginia
0.289%
lowest: Wyoming
Download the data
50 rows · HUD FY2026 Fair Market Rent · Zillow ZHVI June 2026 · verified 2026-07-29.
License: CC BY 4.0 .
How to cite
Attribute the compilation to StateCalc and link this canonical page so readers can inspect the source periods, the methodology and the stated limits.
StateCalc. "StateCalc Rent-to-Price Ratio and Gross Rental Yield by State." https://statecalc.com/data/rent-to-price-ratio-by-state/ (data verified 2026-07-29). CC BY 4.0.
Methodology and limits
Each row divides one state's HUD FY2026 two-bedroom Fair Market Rent (state-level renter-household-weighted average, via NLIHC's "Out of Reach 2026" compilation of HUD's official FY2026 dataset) by that state's Zillow Home Value Index value for June 2026 (all-homes mid-tier, smoothed and seasonally adjusted). Monthly rent-to-price is rent / value * 100; annual gross yield is rent * 12 / value * 100; gross rent multiplier is value / (rent * 12). No smoothing, imputation or adjustment is applied on top of the two published series. These are median-vs-median statewide ratios and are not claims about individual properties; because Fair Market Rent is a 40th-percentile housing-assistance standard rather than achievable asking rent, the ratios published here run below what a renovated single-family rental can command.
- Median vs. median: each ratio divides one statewide aggregate by another. It is not a measurement of any individual property, and it does not mean no property in a state reaches 1%.
- HUD Fair Market Rent is a 40th-percentile housing-assistance standard, not achievable asking rent. For a renovated single-family home it generally sits below market, which biases every ratio here downward.
- The two series differ in vintage and construction (a smoothed home-value index vs. an administratively set rent standard), so the ratio is directional rather than a precise investable yield.
- Gross figures only. Nothing here is net of property tax, insurance, vacancy, maintenance, capital expenditure, management or financing.
- No statutory, tax or legal figure is asserted, and nothing here has been reviewed by a named professional.
Primary sources: HUD Fair Market Rents for the rent series and Zillow Research for the home value index. The same arithmetic drives the 1% rule calculator, so the dataset and the calculator cannot disagree.
All 50 states, ranked
| State | Median home value | 2BR FMR | Rent ÷ price | Gross yield | GRM |
|---|---|---|---|---|---|
| West Virginia (WV) | $183,000 | $1,000/mo | 0.546% | 6.56% | 15.25 |
| Illinois (IL) | $299,000 | $1,579/mo | 0.528% | 6.34% | 15.78 |
| Mississippi (MS) | $198,000 | $1,041/mo | 0.526% | 6.31% | 15.85 |
| Florida (FL) | $378,000 | $1,973/mo | 0.522% | 6.26% | 15.97 |
| Louisiana (LA) | $218,000 | $1,138/mo | 0.522% | 6.26% | 15.96 |
| Texas (TX) | $303,000 | $1,557/mo | 0.514% | 6.17% | 16.22 |
| Pennsylvania (PA) | $294,000 | $1,501/mo | 0.511% | 6.13% | 16.32 |
| Oklahoma (OK) | $225,000 | $1,136/mo | 0.505% | 6.06% | 16.51 |
| Michigan (MI) | $270,000 | $1,327/mo | 0.491% | 5.90% | 16.96 |
| Ohio (OH) | $252,000 | $1,238/mo | 0.491% | 5.90% | 16.96 |
| Indiana (IN) | $262,000 | $1,255/mo | 0.479% | 5.75% | 17.40 |
| Kentucky (KY) | $235,000 | $1,125/mo | 0.479% | 5.74% | 17.41 |
| New York (NY) | $526,000 | $2,520/mo | 0.479% | 5.75% | 17.39 |
| Arkansas (AR) | $229,000 | $1,083/mo | 0.473% | 5.68% | 17.62 |
| Georgia (GA) | $335,000 | $1,551/mo | 0.463% | 5.56% | 18.00 |
| Iowa (IA) | $241,000 | $1,112/mo | 0.461% | 5.54% | 18.06 |
| Alabama (AL) | $242,000 | $1,087/mo | 0.449% | 5.39% | 18.55 |
| Maryland (MD) | $436,000 | $1,955/mo | 0.448% | 5.38% | 18.58 |
| Kansas (KS) | $253,000 | $1,129/mo | 0.446% | 5.35% | 18.67 |
| Connecticut (CT) | $455,000 | $2,027/mo | 0.445% | 5.35% | 18.71 |
| South Carolina (SC) | $309,000 | $1,352/mo | 0.438% | 5.25% | 19.05 |
| Missouri (MO) | $272,000 | $1,154/mo | 0.424% | 5.09% | 19.64 |
| Nebraska (NE) | $284,000 | $1,200/mo | 0.423% | 5.07% | 19.72 |
| Minnesota (MN) | $357,000 | $1,504/mo | 0.421% | 5.06% | 19.78 |
| Vermont (VT) | $402,000 | $1,684/mo | 0.419% | 5.03% | 19.89 |
| North Carolina (NC) | $340,000 | $1,410/mo | 0.415% | 4.98% | 20.09 |
| Virginia (VA) | $420,000 | $1,735/mo | 0.413% | 4.96% | 20.17 |
| Delaware (DE) | $412,000 | $1,675/mo | 0.407% | 4.88% | 20.50 |
| New Mexico (NM) | $321,000 | $1,308/mo | 0.407% | 4.89% | 20.45 |
| Arizona (AZ) | $423,000 | $1,709/mo | 0.404% | 4.85% | 20.63 |
| Tennessee (TN) | $339,000 | $1,363/mo | 0.402% | 4.82% | 20.73 |
| Alaska (AK) | $401,000 | $1,591/mo | 0.397% | 4.76% | 21.00 |
| Maine (ME) | $424,000 | $1,681/mo | 0.396% | 4.76% | 21.02 |
| New Hampshire (NH) | $523,000 | $2,040/mo | 0.390% | 4.68% | 21.36 |
| New Jersey (NJ) | $585,000 | $2,282/mo | 0.390% | 4.68% | 21.36 |
| Nevada (NV) | $448,000 | $1,733/mo | 0.387% | 4.64% | 21.54 |
| Wisconsin (WI) | $342,000 | $1,287/mo | 0.376% | 4.52% | 22.14 |
| Massachusetts (MA) | $673,000 | $2,527/mo | 0.375% | 4.51% | 22.19 |
| North Dakota (ND) | $294,000 | $1,088/mo | 0.370% | 4.44% | 22.52 |
| California (CA) | $776,000 | $2,745/mo | 0.354% | 4.24% | 23.56 |
| Colorado (CO) | $543,000 | $1,895/mo | 0.349% | 4.19% | 23.88 |
| Oregon (OR) | $504,000 | $1,738/mo | 0.345% | 4.14% | 24.17 |
| Washington (WA) | $603,000 | $2,072/mo | 0.344% | 4.12% | 24.25 |
| Rhode Island (RI) | $517,000 | $1,765/mo | 0.341% | 4.10% | 24.41 |
| South Dakota (SD) | $326,000 | $1,094/mo | 0.336% | 4.03% | 24.83 |
| Montana (MT) | $476,000 | $1,558/mo | 0.327% | 3.93% | 25.46 |
| Hawaii (HI) | $837,000 | $2,568/mo | 0.307% | 3.68% | 27.16 |
| Idaho (ID) | $482,000 | $1,410/mo | 0.293% | 3.51% | 28.49 |
| Utah (UT) | $542,000 | $1,582/mo | 0.292% | 3.50% | 28.55 |
| Wyoming (WY) | $373,000 | $1,079/mo | 0.289% | 3.47% | 28.81 |
Both source series were last pulled into this site’s state dataset on 2026-07-29. 8 of 50 states currently clear 0.50% monthly rent-to-price; 0 clear 1.00%. Each state name links to that state’s rental property ROI calculator, which adds the property tax and insurance figures this gross ratio deliberately omits.