The Census Bureau has released the latest estimates from the American Community Survey with sufficient data to estimate the median monthly housing cost. We have crunched the numbers and the rankings are in. See the 51 states with the lowest median monthly housing cost below, and the highest median monthly housing cost states at the bottom of the list.
The monthly housing costs include the major costs paid by owners (mortgage payments, real estate taxes, insurance, utilities, and condo fees) as well as the major costs for renters (contract rent and utilities). According to the Bureau of Labor Statistics, housing is often the largest expense for households at around 33% - well above transportation (16%), food (13%), and healthcare (8%). Keep in mind that housing might be cheap for a reason: people may be fleeing part of the country creating a large supply with little demand.
The national median monthly housing cost from the latest estimates is $1,048 and has risen 2.5% from $1,022.