Data study · May 2026 market data · live rates
DSCR by State: Where the Rent Covers the Mortgage
We ran the numbers for all 50 states: the median home, the typical rent in its largest metro, and the payment on a 75%-LTV rental property loan at today's rates. In 21 states, the median deal's rent covers the loan payment on its own.
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The 50-state rent-coverage table and its assumptions are attached. Ask me to compare markets or explain the payment math.
Strongest rent coverage
- 1. Illinois — 1.47× ($2,266 rent vs $1,542 payment)
- 2. Louisiana — 1.43× ($1,622 rent vs $1,134 payment)
- 3. Mississippi — 1.40× ($1,450 rent vs $1,033 payment)
- 4. Florida — 1.36× ($2,693 rent vs $1,980 payment)
- 5. West Virginia — 1.35× ($1,265 rent vs $937 payment)
| # | State | Median value | Metro rent | Est. P&I (75% LTV) | Rent coverage |
|---|---|---|---|---|---|
| 1 | Illinois(Chicago, IL) | $294,136 | $2,266 | $1,542 | 1.47× |
| 2 | Louisiana(New Orleans, LA) | $216,254 | $1,622 | $1,134 | 1.43× |
| 3 | Mississippi(Jackson, MS) | $197,008 | $1,450 | $1,033 | 1.40× |
| 4 | Florida(Miami, FL) | $377,578 | $2,693 | $1,980 | 1.36× |
| 5 | West Virginia(Charleston, WV) | $178,719 | $1,265 | $937 | 1.35× |
| 6 | New York(New York, NY) | $517,805 | $3,503 | $2,715 | 1.29× |
| 7 | Pennsylvania(Philadelphia, PA) | $289,277 | $1,914 | $1,517 | 1.26× |
| 8 | Ohio(Cincinnati, OH) | $248,719 | $1,575 | $1,304 | 1.21× |
| 9 | Oklahoma(Oklahoma City, OK) | $223,590 | $1,399 | $1,173 | 1.19× |
| 10 | Alabama(Birmingham, AL) | $239,515 | $1,448 | $1,256 | 1.15× |
| 11 | Indiana(Indianapolis, IN) | $259,711 | $1,553 | $1,362 | 1.14× |
| 12 | Kentucky(Louisville, KY) | $235,060 | $1,385 | $1,233 | 1.12× |
| 13 | Virginia(Washington, DC) | $417,463 | $2,416 | $2,189 | 1.10× |
| 14 | Michigan(Detroit, MI) | $266,964 | $1,500 | $1,400 | 1.07× |
| 15 | Maine(Portland, ME) | $416,614 | $2,320 | $2,185 | 1.06× |
| 16 | Texas(Dallas, TX) | $302,550 | $1,678 | $1,587 | 1.06× |
| 17 | Arkansas(Little Rock, AR) | $226,473 | $1,246 | $1,188 | 1.05× |
| 18 | Georgia(Atlanta, GA) | $334,465 | $1,840 | $1,754 | 1.05× |
| 19 | Iowa(Des Moines, IA) | $238,019 | $1,293 | $1,248 | 1.04× |
| 20 | Missouri(St. Louis, MO) | $268,423 | $1,451 | $1,408 | 1.03× |
| 21 | Tennessee(Nashville, TN) | $336,445 | $1,798 | $1,764 | 1.02× |
| 22 | Vermont(Burlington, VT) | $400,274 | $2,095 | $2,099 | 1.00× |
| 23 | North Carolina(Charlotte, NC) | $339,236 | $1,740 | $1,779 | 0.98× |
| 24 | Nebraska(Omaha, NE) | $282,169 | $1,444 | $1,480 | 0.98× |
| 25 | South Carolina(Greenville, SC) | $308,062 | $1,544 | $1,616 | 0.96× |
| 26 | Minnesota(Minneapolis, MN) | $354,135 | $1,721 | $1,857 | 0.93× |
| 27 | Kansas(Wichita, KS) | $249,382 | $1,201 | $1,308 | 0.92× |
| 28 | Massachusetts(Boston, MA) | $667,265 | $3,211 | $3,499 | 0.92× |
| 29 | Delaware(Salisbury, MD) | $410,212 | $1,968 | $2,151 | 0.91× |
| 30 | New Mexico(Albuquerque, NM) | $319,816 | $1,502 | $1,677 | 0.90× |
| 31 | New Jersey(Trenton, NJ) | $578,855 | $2,623 | $3,036 | 0.86× |
| 32 | Wisconsin(Milwaukee, WI) | $339,653 | $1,538 | $1,781 | 0.86× |
| 33 | Alaska(Anchorage, AK) | $395,622 | $1,770 | $2,075 | 0.85× |
| 34 | Maryland(Baltimore, MD) | $434,033 | $1,919 | $2,276 | 0.84× |
| 35 | Connecticut(Hartford, CT) | $447,447 | $1,975 | $2,346 | 0.84× |
| 36 | Rhode Island(Providence, RI) | $509,691 | $2,163 | $2,673 | 0.81× |
| 37 | New Hampshire(Manchester, NH) | $516,578 | $2,136 | $2,709 | 0.79× |
| 38 | Arizona(Phoenix, AZ) | $423,681 | $1,742 | $2,222 | 0.78× |
| 39 | South Dakota(Sioux Falls, SD) | $323,067 | $1,309 | $1,694 | 0.77× |
| 40 | Wyoming(Cheyenne, WY) | $367,664 | $1,485 | $1,928 | 0.77× |
| 41 | North Dakota(Fargo, ND) | $290,642 | $1,156 | $1,524 | 0.76× |
| 42 | Nevada(Las Vegas, NV) | $447,276 | $1,737 | $2,346 | 0.74× |
| 43 | Idaho(Boise City, ID) | $480,645 | $1,837 | $2,521 | 0.73× |
| 44 | California(Los Angeles, CA) | $775,550 | $2,909 | $4,067 | 0.72× |
| 45 | Washington(Seattle, WA) | $603,870 | $2,232 | $3,167 | 0.70× |
| 46 | Hawaii(Urban Honolulu, HI) | $832,183 | $2,980 | $4,364 | 0.68× |
| 47 | Oregon(Portland, OR) | $502,934 | $1,797 | $2,637 | 0.68× |
| 48 | Colorado(Denver, CO) | $543,270 | $1,910 | $2,849 | 0.67× |
| 49 | Montana(Billings, MT) | $472,852 | $1,435 | $2,480 | 0.58× |
| 50 | Utah(Salt Lake City, UT) | $541,277 | $1,641 | $2,839 | 0.58× |
Rent shown is the typical asking rent in each state's largest metro. Coverage of 1.00× or better (green) means the median home's metro rent covers the estimated loan payment; 0.85–0.99× (amber) is typically workable with a larger down payment or stronger submarket. Click any state for its dedicated DSCR loan page.
Run the numbers on a specific property
State medians are a screen — deals are won property by property. Get DSCR numbers for your actual address, rent, and down payment with an AI-powered mortgage quote.
Methodology
- Home values: Zillow Home Value Index (ZHVI), state-level, mid-tier single-family and condo, smoothed and seasonally adjusted — May 2026.
- Rents:Zillow Observed Rent Index (ZORI) for each state's largest metro (shown in parentheses), smoothed and seasonally adjusted — May 2026.
- Payment: 30-year fixed principal and interest on a 75% LTV loan against the median value, at 7.500% — today's published 30-year sample rate (6.250%, as of August 24, 2026) plus a 1.25% illustrative rental property spread. Taxes, insurance, and HOA are excluded, so lender-calculated DSCR will be lower.
- What this is: a market screen for comparing states — not a quote, rate lock, or loan commitment. 4Homes arranges financing through licensed lending sources nationwide.
Cite freely with a link to this page. Source data: Zillow Research (zillow.com/research/data).
Frequently asked questions
What does the rent coverage ratio in this table mean?
It's the state's typical metro rent divided by the estimated monthly principal-and-interest payment on the median-value home at 75% loan-to-value. At 1.0, rent covers the loan payment. DSCR lenders calculate the full ratio with taxes and insurance included, so treat these figures as a market screen, not a quote.
Why do lower-priced states rank higher?
Rents don't fall as fast as home prices do. A $200,000 midwest rental often collects half the rent of an $800,000 coastal home at a quarter of the payment — so the ratio of rent to payment is structurally better in lower-priced markets.
Can a deal still work in a state below 1.0 coverage?
Yes. These are median-home, largest-metro figures. Rental property owners in expensive states make DSCR work with larger down payments, multi-unit properties, below-median purchases, or higher-rent submarkets. Many DSCR programs also allow ratios below 1.0 with compensating factors.
What rate do these payments assume?
Payments are computed at 7.500% — today's published 30-year sample rate plus a 1.25% illustrative rental property spread — on a 30-year fixed at 75% LTV. DSCR pricing varies with credit, LTV, and the property's ratio; it is not a quote or commitment.