Real gross rental yield per US state: HUD FY2025 Fair Market Rent (2BR) divided by Zillow ZHVI median home value. Two authoritative public datasets, one honest ratio, free and openly reusable under CC BY 4.0.
| Rank | State▲▼ | Avg 2BR FMR▲▼ | ZHVI (median home value)▲▼ | Gross yield▲▼ |
|---|---|---|---|---|
| 01 | Hawaii | $2,498 | $832K | 3.6% |
| 02 | District of Columbia | $2,314 | $582K | 4.8% |
| 03 | New Hampshire | $2,059 | $517K | 4.8% |
| 04 | Vermont | $1,936 | $400K | 5.8% |
| 05 | New Jersey | $1,922 | $579K | 4.0% |
| 06 | California | $1,898 | $776K | 2.9% |
| 07 | Massachusetts | $1,896 | $667K | 3.4% |
| 08 | Connecticut | $1,852 | $447K | 5.0% |
| 09 | Rhode Island | $1,797 | $510K | 4.2% |
| 10 | Washington | $1,659 | $604K | 3.3% |
| 11 | Colorado | $1,646 | $543K | 3.6% |
| 12 | Nevada | $1,646 | $447K | 4.4% |
| 13 | Florida | $1,601 | $378K | 5.1% |
| 14 | Maine | $1,578 | $417K | 4.5% |
| 15 | Oregon | $1,573 | $503K | 3.8% |
| 16 | New York | $1,571 | $518K | 3.6% |
| 17 | Maryland | $1,567 | $434K | 4.3% |
| 18 | Delaware | $1,564 | $410K | 4.6% |
| 19 | Arizona | $1,544 | $424K | 4.4% |
| 20 | Alaska | $1,539 | $396K | 4.7% |
| 21 | Montana | $1,360 | $473K | 3.5% |
| 22 | Utah | $1,358 | $541K | 3.0% |
| 23 | Virginia | $1,336 | $417K | 3.8% |
| 24 | Texas | $1,292 | $303K | 5.1% |
| 25 | Idaho | $1,287 | $481K | 3.2% |
| 26 | Pennsylvania | $1,274 | $289K | 5.3% |
| 27 | New Mexico | $1,258 | $320K | 4.7% |
| 28 | North Carolina | $1,253 | $339K | 4.4% |
| 29 | South Carolina | $1,246 | $308K | 4.9% |
| 30 | Georgia | $1,197 | $334K | 4.3% |
| 31 | Michigan | $1,176 | $267K | 5.3% |
| 32 | Tennessee | $1,172 | $336K | 4.2% |
| 33 | Wisconsin | $1,154 | $340K | 4.1% |
| 34 | Minnesota | $1,151 | $354K | 3.9% |
| 35 | Illinois | $1,146 | $294K | 4.7% |
| 36 | Wyoming | $1,102 | $368K | 3.6% |
| 37 | Kentucky | $1,099 | $235K | 5.6% |
| 38 | Mississippi | $1,089 | $197K | 6.6% |
| 39 | Indiana | $1,087 | $260K | 5.0% |
| 40 | South Dakota | $1,072 | $323K | 4.0% |
| 41 | Ohio | $1,060 | $249K | 5.1% |
| 42 | Kansas | $1,055 | $249K | 5.1% |
| 43 | Nebraska | $1,048 | $282K | 4.5% |
| 44 | Louisiana | $1,036 | $216K | 5.7% |
| 45 | Alabama | $1,033 | $240K | 5.2% |
| 46 | West Virginia | $1,016 | $179K | 6.8% |
| 47 | Iowa | $1,007 | $238K | 5.1% |
| 48 | North Dakota | $1,006 | $291K | 4.2% |
| 49 | Oklahoma | $982 | $224K | 5.3% |
| 50 | Arkansas | $980 | $226K | 5.2% |
| 51 | Missouri | $979 | $268K | 4.4% |
| 52 | Puerto Rico | $554 | — | — |
Rent numerator: arithmetic mean of the 2-bedroom Fair Market Rent across all metros published by HUD in each state's FY2025 FMR release. Small Area FMR (per-ZIP) is used where HUD publishes it (~50 large metros covering 9,176 ZIPs); metro-level FMR is used everywhere else. Home value denominator: Zillow Home Value Index (ZHVI), State-level series, single-family + condo, 33rd–67th percentile tier, smoothed and seasonally adjusted, latest observation 2026-05-31. Gross yield formula: (monthly_FMR × 12) / ZHVI × 100. This is gross yield — before expenses, financing, taxes, and vacancy. See the methodology page for the full definition, sample-size treatment, and rebuild cadence. HUD data is US public domain. Zillow research data used under Zillow research citation guidelines. PERCH-generated aggregations are licensed under CC BY 4.0.
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