Antonio Guillem / Shutterstock.com Housing costs have climbed sky-high in recent years, for both homebuyers and renters. In fact, rents have jumped by as much as 50% in some markets. Show
But in a handful of places, rents remain relatively affordable, at least compared with more high-flying cities. Recently, Rent.com scoured the country to find the cities with populations of more than 50,000 that have the most affordable rents. If you suddenly feel desperate to find bargain housing, check out these communities. Des Moines, IowaNagel Photography / Shutterstock.comCity’s average rent for a:
Polk County — in which Des Moines resides — is among the largest counties with populations of less than 500,000 where renting is more affordable than buying, according to an ATTOM Data Solutions report from earlier this year. Des Moines is Iowa’s capital city and home to the state fairgrounds. Albuquerque, New Mexicoturtix / Shutterstock.comCity’s average rent for a:
In a state known as “the Land of Enchantment,” Albuquerque rents are cheaper than in many other places across the country, but they are still climbing. In fact, the home of the famous annual hot air balloon festival saw rents jump 23% from November 2020 to November 2021. Winston-Salem, North CarolinaSean Pavone / Shutterstock.comCity’s average rent for a:
Rents may be more affordable in Winston-Salem, but that doesn’t mean investment properties are popular with homeowners. The Wall Street Journal reports that in some of the region’s neighborhoods, residents are banding together to try to block companies from buying up single-family homes. They fear renters are making their neighborhoods less attractive. According to the WSJ:
Louisville, KentuckyPhilip Rozenski / Shutterstock.comCity’s average rent for a:
It’s cheaper to live in Louisville, and young people appear to be catching on to that fact. Rent.com says the city “has experienced a renaissance among younger crowds” and that new restaurants and live music spots are popping up all over. Memphis, TennesseeSean Pavone / Shutterstock.comCity’s average rent for a:
Even though your rental dollar goes further in Memphis, it still might be better to buy a home in the metro on the Mississippi River. Ksenia Potapov, an economist at First American, says the firm’s research indicates that Memphis and Pittsburgh are two cities where first-time homebuyers are likely to find deals that make owning better than renting. Indianapolis, IndianaAlexey Stiop / Shutterstock.comCity’s average rent for a:
This city is “oft-overlooked” when people think of Midwestern cities. That is a mistake, however, as Rent.com says Indianapolis is a great place to live. While studio units can be a bit pricey, Rent.com says you can score good deals on two-bedroom apartments. San Antonio, Texaslise Vanasse / Shutterstock.comCity’s average rent for a:
San Antonio is the largest city to make the top 10 on the Rent.com list. Given that reality, it’s surprisingly affordable. A one-bedroom apartment is available for just a little more than $1,000 a month. Renters in more expensive cities — many of them smaller than San Antonio — are green with envy. Omaha, NebraskaEQRoy / Shutterstock.comCity’s average rent for a:
Omaha is an overlooked gem, with neighborhoods such as the revitalized historic Blackstone District representing “a steal” of a deal for renters, according to real estate industry website Inman. However, rents are climbing, particularly for bigger units that have become more popular during the COVID-19 pandemic. Baton Rouge, LouisianaJudy M Darby / Shutterstock.comCity’s average rent for a:
Those looking for good deals on a two-bedroom apartment should consider this Louisiana state capital city. A recent report notes that Baton Rouge was among the few places in the country where the cost of renting such an apartment actually fell year over year. Fargo, North DakotaDavid Harmantas / Shutterstock.comCity’s average rent for a:
Sure, it’s cold in this Northern city. But Fargo is also a hotspot for those looking for bargain rental costs. Rent.com notes that Fargo has the second-cheapest costs for renters in the U.S. among cities that qualify for this list. That honor also cuts across all apartment types. Grand Forks, North DakotaJacob Boomsma / Shutterstock.comCity’s average rent for a:
Another North Dakota town edges out Fargo for the title of most affordable place for renters. Grand Forks has the cheapest prices for one-bedroom and two-bedroom apartments on this list. But if you think Fargo is cold, hold on to your puffer jacket as you head north. An hour south of the Canadian border, Grand Forks has average winter lows that regularly dip below zero degrees. Where in the U.S. is the cheapest rent?Cheap rent can be found in Midwest, South
Overall, the city with the cheapest average rent in the U.S. was listed as Wichita, Kansas, with a population of nearly 400,000.
What city has the lowest cost of living?Take a look at our list of American cities with the lowest costs of living.. Amarillo, Texas.. Anniston, Alabama. ... . Knoxville, Tennessee. ... . Joplin, Missouri. ... . Augusta-Aiken, Georgia/South Carolina. ... . Kokomo, Indiana. ... . Jackson, Tennessee. ... . What town has the cheapest apartments?Takeaway No. 1: Springfield, MO, has the cheapest average rent in the U.S. Springfield, also known as the birthplace of Route 66, is the home of Missouri State University, the state's second-largest. The city only clocks in at about 167,000 residents and it carries the cheapest rent of any city in the nation by far.
Where is the cheapest place to live in the U.S. 2022?Above you'll see that Sioux Falls, SD is the big winner in 2022, with the best total score and the top ranking among all US cities. Reno, NV, Provo, UT, Madison, WI, and Huntsville, AL round out the top five.
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