15 Cities Where It's Still Affordable to Rent

Looking for a place to live without breaking the bank? While it's getting harder to find inexpensive apartments across major U.S. cities, there are still some places where paying less than $1,000 a month for rent is possible. This includes cities like Oklahoma City and Pittsburgh, where lower rents are more common.

In a recent study covering the 50 largest metropolitan areas, it was found that only about 32% of renters pay less than $1,000 monthly in 2023. This is a significant drop from 50% back in 2012. According to Sheharyar Bokhari, a senior economist at Redfin, the rising rent prices are making it increasingly challenging for Americans to find affordable housing. 

The demand has pushed the median asking rent to $1,634, a 20% increase from before the pandemic. Because of these high rates, people with limited budgets are finding creative ways to cope, such as living with more roommates or settling for apartments that aren't quite what they wanted.

Check out: How to Secure an Apartment Even with a Not-So-Great Past as a Tenant

However, there's a silver lining! There are still several mid-to-large sized cities where you can enjoy a vibrant city life without the hefty price tag you'd find in places like San Diego or Miami. 

Here's a list of 15 cities where a significant portion of renters pay less than $1,000 a month:
 

1. Oklahoma City, Oklahoma - 64.3%
2. New Orleans, Louisiana - 63.5%
3. Cleveland, Ohio - 63.4%
4. Louisville, Kentucky - 57.6%
5. Pittsburgh, Pennsylvania - 55.8%
6. Buffalo, New York - 55.2%
7. Cincinnati, Ohio - 54.9%
8. St. Louis, Missouri - 53.9%
9. Memphis, Tennessee - 53.5%
10. Milwaukee, Wisconsin - 49.5%
11. Detroit, Michigan - 49.3%
12. Providence, Rhode Island - 47%
13. Indianapolis, Indiana - 46.7%
14. Birmingham, Alabama - 44%
15. Kansas City, Missouri - 43%

Unfortunately, the number of apartments available for less than $1,000 a month is decreasing, even in these more affordable cities. 

For example, Cleveland saw an 11.1% increase in median rent in just one year. The story is similar in cities like Cincinnati and Louisville, which have attracted new residents due to their affordability.

Long-term residents, many of whom have lived in their homes for five or more years, are finding it increasingly difficult to locate such budget-friendly rents, with only 7.5% of apartment listings priced under $1,000 according to Redfin's analysis.

Dig deeper: Three Key Ways to Make Sure Everyone Can Get Help with Rent

In light of these challenges, there's an opportunity for government intervention to help alleviate the housing crisis. Expanding affordable housing initiatives and providing rental assistance programs can play a significant role in ensuring that more individuals and families have access to safe and stable homes. 

By investing in affordable housing development and supporting local initiatives, cities can work towards reversing the trend of rising rents, ultimately making it easier for residents to find suitable living arrangements without exceeding their budgets.

Find out more: A Simple Guide to Federal Rental Assistance

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