Cheapest US states by Fair Market Rent
Alabama has the lowest median 2-bedroom Fair Market Rent of any US state in FY2026, at $837/month — about 14% below the national median of $975. Mississippi ($842) and Kentucky ($866) are next. All 51 states and DC are ranked below, cheapest first.
Source: HUD USER, FY2026 Fair Market Rents (40th percentile, revised final). Data as of June 2026.
All 51 states ranked by median 2-bedroom FMR (cheapest first)
| # | State | Median 2 BR | 2 BR range | Areas |
|---|---|---|---|---|
| 1 | Alabama | $837 | $776 – $1,345 | 55 |
| 2 | Mississippi | $842 | $842 – $1,288 | 76 |
| 3 | Kentucky | $866 | $866 – $1,353 | 101 |
| 4 | Louisiana | $866 | $834 – $1,331 | 45 |
| 5 | West Virginia | $869 | $869 – $1,573 | 49 |
| 6 | North Dakota | $873 | $873 – $1,534 | 51 |
| 7 | Kansas | $877 | $877 – $1,426 | 94 |
| 8 | Arkansas | $880 | $880 – $1,347 | 68 |
| 9 | Missouri | $888 | $888 – $1,358 | 95 |
| 10 | Illinois | $916 | $916 – $2,050 | 83 |
| 11 | Iowa | $919 | $919 – $1,368 | 92 |
| 12 | South Dakota | $929 | $929 – $1,336 | 63 |
| 13 | Tennessee | $933 | $925 – $1,730 | 72 |
| 14 | Oklahoma | $937 | $937 – $1,244 | 69 |
| 15 | Nebraska | $961 | $961 – $1,368 | 90 |
| 16 | Indiana | $971 | $956 – $1,473 | 73 |
| 17 | Georgia | $973 | $973 – $1,820 | 112 |
| 18 | Minnesota | $973 | $973 – $1,709 | 73 |
| 19 | Wisconsin | $975 | $973 – $1,709 | 65 |
| 20 | Ohio | $978 | $973 – $1,433 | 68 |
| 21 | Wyoming | $980 | $963 – $1,653 | 23 |
| 22 | North Carolina | $998 | $925 – $1,835 | 83 |
| 23 | South Carolina | $1,002 | $902 – $1,816 | 38 |
| 24 | New Mexico | $1,006 | $973 – $1,740 | 30 |
| 25 | Texas | $1,015 | $973 – $1,931 | 215 |
| 26 | Virginia | $1,022 | $914 – $2,246 | 64 |
| 27 | Michigan | $1,023 | $973 – $1,656 | 77 |
| 28 | Pennsylvania | $1,033 | $973 – $1,810 | 52 |
| 29 | Idaho | $1,079 | $973 – $1,655 | 40 |
| 30 | Utah | $1,153 | $973 – $2,185 | 26 |
| 31 | Colorado | $1,164 | $973 – $2,467 | 55 |
| 32 | New York | $1,185 | $973 – $2,910 | 39 |
| 33 | Montana | $1,307 | $973 – $2,154 | 55 |
| 34 | Maryland | $1,314 | $973 – $2,246 | 15 |
| 35 | Arizona | $1,337 | $1,129 – $1,921 | 14 |
| 36 | Florida | $1,337 | $973 – $2,504 | 52 |
| 37 | Oregon | $1,346 | $1,008 – $1,922 | 31 |
| 38 | Vermont | $1,354 | $1,007 – $2,140 | 12 |
| 39 | Washington | $1,354 | $973 – $2,501 | 35 |
| 40 | Nevada | $1,393 | $985 – $1,870 | 16 |
| 41 | Alaska | $1,424 | $973 – $2,191 | 30 |
| 42 | Maine | $1,438 | $1,224 – $2,202 | 19 |
| 43 | Delaware | $1,470 | $1,399 – $1,810 | 3 |
| 44 | California | $1,625 | $1,108 – $4,214 | 51 |
| 45 | Rhode Island | $1,729 | $1,721 – $2,314 | 3 |
| 46 | Connecticut | $1,827 | $1,601 – $2,511 | 20 |
| 47 | New Hampshire | $1,950 | $1,287 – $2,941 | 14 |
| 48 | New Jersey | $1,950 | $1,673 – $2,763 | 11 |
| 49 | Massachusetts | $2,067 | $1,527 – $3,138 | 20 |
| 50 | District of Columbia | $2,246 | $2,246 – $2,246 | 1 |
| 51 | Hawaii | $2,492 | $2,076 – $2,642 | 5 |
Source: HUD USER, FY2026 Fair Market Rents (40th percentile, revised final). Data as of June 2026.
Frequently asked questions
What state has the lowest Fair Market Rent?
Alabama has the lowest median 2-bedroom Fair Market Rent of any US state in FY2026, at $837 per month, followed by Mississippi ($842) and Kentucky ($866). FMR follows actual local rents, so the cheapest-rent states cluster in the South and Midwest.
Does a low FMR mean low cost of living?
Largely, since rent is the biggest household cost and the cheapest-FMR states are also among the lowest cost-of-living states. But FMR measures rent only — it does not include taxes, utilities beyond the rent estimate, or local wages, which matter for affordability.
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Last updated: 2026-06-20