15 US Cities Where The Average Rent Is Less Than $1,800 A Month
BuzzFeed
·7 min read
We all know that cities like New York, LA, and San Fran are ridiculously expensive to live in (with a one-bedroom in the latter going for $2,800 a month, on average 😬).
But as jobs begin offering workers more flexibility, you may have the ability to clock in from a noticeably more affordable city — perhaps one of these more renter-friendly metros?
AdvisorSmith, a site that provides resources for small businesses, used income data from the US Census Bureau paired with rental rates to compare 500 US cities and determine the most affordable cities for renters.
To get their ranking, they compared a city's average weighted rent with its median household income to come up with what metros have a low rent-to-income ratio (cities where people spend a smaller percentage of their income on rent).
As an FYI, personal finance advice often says you should try to spend no more than 30% of your income on rent. That's often just not doable, especially if you live in a major city. However, all of the cities on this list have average rents that are less than 30% of their median household income. NYC wishes.
For this roundup, we're highlighting only what the study calls "large cities" (or cities with 300,000-plus people), to make that move from NYC a little less jarring. And remember — packing up and moving to a new city is so much easier said than done, but checking out the prices in other cities can be a great first step to figuring out where you ~really~ want to be.
1.Wichita, Kansas
2.Omaha, Nebraska
3.Louisville, Kentucky
4.Oklahoma City, Oklahoma
5.Lexington, Kentucky
6.Portland, Oregon
7.Tulsa, Oklahoma
8.Columbus, Ohio
9.St. Paul, Minnesota
10.Seattle, Washington
11.Fort Worth, Texas
12.Kansas City, Missouri
13.Cincinnati, Ohio
14.Minneapolis, Minnesota
15.Albuquerque, New Mexico
How does your city compare? Share what rental rates are like in your area in the comments.
And for more stories about life and money, check out the rest of our personal finance posts.
Affluent Americans may want to double-check how much of their bank deposits are protected by government-backed insurance. The rules governing trust accounts just changed.
Former NBA guard Darius Morris has died at the age of 33. He played for five teams during his four NBA seasons. Morris played college basketball at Michigan.
Jason Fitz, Charles Robinson and Frank Schwab talk about which quarterback rooms concern them and which they find interesting heading into the 2024 NFL season.
Teams have made their big splashes in free agency and made their draft picks, it's time for you to do the same. It's fantasy football mock draft time. Some call this time of year best ball season, others know it's an opportunity to get a leg up on your competition for when you have to draft in August. The staff at Yahoo Fantasy did their first mock draft of the 2024 season to help you with the latter. Matt Harmon and Andy Behrens are here to break it all down by each round and crush some staff members in the process.