Massachusetts Among Worst States In Country For Renters: Study

MASSACHUSETTS — With consistently increasing housing costs, Massachusetts ranks fourth-worst in the country for renters, according to a study from Consumer Affairs.

"Residents in Massachusetts pay a high cost for the pleasure of living there," according to Consumer Affairs. "The state has a very high rental cost ($1,689 for a two-bedroom), leading to a high percentage of income spent on housing costs (31.7%). In addition, it could be difficult to find a rental due to low vacancy rates (3.5%)."

The percentage of renter-occupied units built after 2000 in Massachusetts stands at 16.4 percent.

The Consumer Affairs study noted that while renting can be a good option for people trying to save money to buy a house, it's increasingly expensive. A shortage of affordable homes combined with inflation and rising interest rates have made renting more difficult.

The report analyzed data from the U.S. Census Bureau, the U.S. Bureau of Economic Analysis, and the Bureau of Labor.

The Northeast is well-represented on the list of the worst places for renters, taking five of the top 10 spots.

Here's the list of the worst states for renters:

1. Connecticut
2. Hawaii
3. Rhode Island
4. Massachusetts
5. California
6. Vermont
7. New York
8. Florida
9. Mississippi
10. Michigan

And here are the best states for renters:

1. North Dakota
2. South Dakota
3. Iowa
4. Oregon
5. North Carolina
6. Wyoming
7. Idaho
8. Minnesota
9. Wisconsin
10. Washington, D.C.

Check out the full story in Consumer Affairs.

In April, a Rent Research study found that high apartment rental prices in Massachusetts show no signs of abating. The median price of an apartment was $3,243 in March, an increase of 1.42 percent from the year prior. March rent costs were up 1.72 percent from February.

See related: MA Renters Are Paying More For An Apartment Than A Year Ago: Report

MA Incomes Among Highest In Country: Report