Most Affordable Cities for Renters

Which are the most affordable cities for renters?  It would have been easy to just look at the lowest average rent payments and called it a day but we decided to take a deep look at over fifty of the largest cities in the US and scored them based on a number of factors including population, quality of life, affordability, unemployment, average income and many other factors . After all our hard work and research we are happy to share our findings for the most affordable cities for renters in the United States.  These cities may not be the lowest rent, but they are the most affordable when considering a number of key factors.

Have a look at the list and see if your city made the cut.

Philadelphia, PA
Philadelphia is an iconic American city and is home to independence hall, where the declaration of independence was penned and signed along with the famous Liberty Bell.  The city of brotherly love also loves renters.

Key Factors
Percent of income spent on rent: 22%
Cost of Living: Moderate
Purchasing Power:  Very High
Unemployment: 3.7%
Average Rent payment:  $1,087

St. Louis, MO
St. Louis is known as the gateway to the west as symbolized by the towering and recognizable gateway arch.  However, there is no need to go further west than St. Louis to find a great rental unit.

Key Factors
Percent of income spent on rent: 21%
Cost of Living: Moderate
Purchasing Power: Very High
Unemployment: 3.5%
Average Rent payment:  $1,145

Oklahoma City, OK
Oklahoma City has recently made some fantastic changes to the downtown area affectionately known as “Bricktown” adding an abundance of dining, nightlife, attractions, and cultural events to keep the area alive and vibrant.  OKC is also one of the most affordable places to rent in the entire country.

Key Factors
Household Income Spent on Rent: 23%
Cost of Living: Low
Purchasing Power:  Very High
Unemployment: 3.6%
Average Rent payment:  $1,115

Raleigh, NC
Raleigh and Durham, NC is filled with young, educated, and diverse.  The tri-city area, known as the triangle, is attracting highly skilled tech workers who find the area very affordable with a strong sense of community.

Key Factors
Household Income Spent on Rent: 22.9%
Cost of Living: Moderate
Purchasing Power: Very High
Unemployment: 3.9%
Average Rent payment:  : $1,441

Birmingham, AL
Birmingham, AL is the birthplace of the civil rights movement of the 1950’s and 60’s. This diverse city is growing fast and boasts one of the most diverse communities in the country.  It also makes this list due to being one of the best places in America to find affordable rentals.

Key Factors
Household Income Spent on Rent: 23.1%
Cost of Living: Moderate
Purchasing Power: High
Unemployment: 4.5%
Average Rent payment:  $1,054

Kansas City, MO
Kansas City straddles the state border between Kansas and Missouri which leaves most people to wonder which state they are actually in at any given moment.  Regardless of which state you’re in when in Kansas City you are sure to find a great deal on a rental property.

Key Factors
Household Income Spent on Rent: 24.0%
Cost of Living:  Moderate
Purchasing Power: Very High
Unemployment: 3.9%
Average Rent payment:  $1,278

Indianapolis, IN
Affectionately known as Indy for short is a thriving metro area filled with great culinary experiences and bubbling microbrews.   You will find some of the most affordable rents in the US right there in Indy as well.

Key Factors
Household Income Spent on Rent: 24.4%
Cost of Living: Moderate
Purchasing Power:  High
Unemployment: 3.3%
Average Rent payment:  $1,204

Cincinnati, OH
Cincinnati is one of the best-kept secrets in the United States regarding affordability and opportunity.   Great jobs are available along with very affordable housing with a low cost of living.

Key Factors
Household Income Spent on Rent: 24.5%
Cost of Living: Low
Purchasing Power: Very High
Unemployment: 4.0%
Average Rent payment:  $1,282

Charlotte, NC
Charlotte, NC is one of the largest small cities in America.  Charlotte is culturally diverse and brimming with great restaurants, microbreweries, clubs, and sporting venues.

Key Factors
Household Income Spent on Rent: 24.7%
Cost of Living: Moderate
Purchasing Power: Very High
Unemployment: 4.1%
Average Rent payment:  $1,301

Looking to own a home but are currently renting? Consider a lease-to-own home and look at our lease to own home listings today.