The Cape Coral-Fort Myers metropolitan area has the highest rental vacancy rate in the nation at 15.3%, according to a report from research company Construction Coverage using data from the U.S. Census Bureau and Department of Housing and Urban Development. With 21.5% of its households renting, the Cape Coral-Fort Myers area has a $1,967 median monthly rent. The report states 59.3% of households renting in the area are cost–burdened. The Birmingham-Hoover, Alabama, area has the second-highest rental vacancy rate at 12.2%, followed by the Charleston–North Charleston-Summerville, South Carolina, area (12%), the Memphis, Tennessee, area (11.4%) and the Houston-Woodlands-Sugar Land, Texas, area (10.9%).