The 5 Best Cities for Renting Cheap Apartments
Whether you're just starting out or you're a seasoned veteran, looking for an apartment can be complicated and stressful. Couple that with moving to a new city on a limited budget, the process can be almost overwhelming.
You need to consider price, location, layout, and a number of other factors. For those just starting out, it might be smart to prepare a list of what you want and what you're willing to compromise to find cheap apartments. You might want a two bedroom apartment, but are willing to compromise for something smaller if it's closer to your new job or school.
If you're currently stuck in an expensive city and can't find something to suit your needs, you might want to consider checking out these cities. They are all beautiful, and the best part? They all have incredibly affordable apartments.
Follow along to learn more about these cities and average rent prices in each!
Best Cities With Cheap Apartments
It's hard to come up with a list of amazingly cheap apartments in huge cities. If you want to live in New York City, you should be prepared to pay for a New York apartment. However, if you're willing to commute to save some cash in the living expenses department, you should consider the surrounding areas.
We've tried to make a list of up and coming cities that can offer you the efficiency and comfort of living close to the city center for a great price. So if you're looking to move anytime soon and are a bit strapped for cash, one of these cities might be a perfect fit for your needs.
Also, if you currently live in one of these cities and are paying too much rent, it might be time to move!
1. Oklahoma City, OK
Finding a house for rent isn't always easy, but it might be a bit more bearable when rent is low! Average rent prices for one bedroom apartments in Oklahoma City are $670. Average rent for a two bedroom apartment goes up to $858.
If instead, you're looking to buy a home, prices in the area are $50,000 less than the national average. This allows people to use less of their income on living expenses. In Oklahoma City, residents spend only 26.5% of income on living expenses, on average.
It doesn't hurt that Oklahoma City is ranked 36th best place to live in the United States either! A bargain for such a great city to live in.
2. Buffalo, NY
Buffalo tops some lists of most affordable places to live. It also ranks higher than Oklahoma City in the best places to live scale, coming up in 33rd place.
The median rent in Buffalo is $512. This is less than half of the monthly rent of a New York City apartment. Those are some cheap apartments!
Buffalo has shrunk slightly over the past few years. This is what has caused rent prices to go down. In fact, people in Buffalo only spend approximately 25.5% of their income on housing and utilities.
This vibrant city could be a great option for those working in Toronto or the Niagara Falls area. It might also be smart to move and work in the city since it has experienced a steady decrease in unemployment since 2012. In fact, the unemployment rate in Buffalo was only 5% in 2016.
3. Indianapolis, IN
Indianapolis is another incredibly affordable city. One month's rent for a single bedroom apartment comes to approximately $648. For a two bedroom, it's $771. Not a bad increase for an extra room.
It is ranked 55th on the best places to live list. This spot is not too high. However, with a metro population of almost two million, it won't be hard to find people you relate to and things you're interested in doing. You'll get the perks of living in a big city for a fraction of the usual cost.
Although current prices are incredibly low, there has been a steady increase in rent costs over the last few years. So if you're strongly considering moving to Indianapolis, the sooner you move, the cheaper it will be!
4. Detroit, MI
Detroit recently hasn't been seen as a place you want to move to. Its reputation does not attract a lot of first-time renters and buyers. However, there are so many great aspects of Detroit that people usually fail to consider.
For instance, the median rent in the city for a one bedroom apartment is only $625. For a two bedroom apartment, it comes up to $650 - a bargain if you can live with a roommate.
Detroit comes in second for cheapest two bedroom apartments. It also tops the list of cheapest single-family homes. You can't beat a $750 monthly rent for a whole family.
In a city like Detroit, it is important to consider renovation costs. You can find incredibly cheap homes, but the work you need to put into them can sometimes add up. However, if you find a hidden gem you love, you're likely to be better off buying it and remodeling it than purchasing a home in another nearby city.
5. Toledo, OH
Toledo is a great option for people who want Detroit prices but don't necessarily want to move to the industrial city.
In Toledo, single bedroom apartments go for an average of $443 per month. Two bedroom apartments go for $650 per month. Toledo tops the list for cheapest single bedroom apartments and ties with Detroit for cheapest two bedroom apartments.
It also comes second to Detroit for single family median rent. With a $790 average rent price per month, it is incredibly similar to¬†the price of a Detroit single family home.
Ready to Move?
Hopefully, this list of the best places to find cheap apartments has helped you make a decision about where you'd like to move. These cities have so much to offer first-time renters and buyers since home prices and utilities are dirt cheap.
If you're still on the fence about which city to move to or need more information about the overwhelming renting process, go to our article section. We have tons of resources and articles that can help you make decisions as we guide you through the process!
Return to articles >>