U.S. Cities With the Cheapest Apartments for Rent

Prices are going up everywhere, but these cities still have some of the cheapest apartments for rent in the country.

Housing is not cheap in the United States. In post-pandemic America, rents in some cities have shot up to such great heights that long-term tenants may have no choice but to move.

But some places, largely located in the Midwest, can offer some relief for your wallet, as their rents have not yet skyrocketed. These U.S. cities have the cheapest apartments for rent.

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10. Kansas City, Missouri-Kansas

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Median rent: $1,298

Rental vacancy rate: 8.9 percent

Bottom line: Kansas City, Kansas, and Kansas City, Missouri, are two separate incorporated cities but together are part of the Kansas City metropolitan area. Both cities have rents lower than the national average and offer a relatively low cost of goods and services.

The area has a healthy and growing economy. There are many career opportunities in industries like healthcare, finance, and technology.

AMC, the Federal Reserve Bank of Kansas City, H&R Block, Hallmark, Russell Stover, and T-Mobile are just some of the companies headquartered here.

Renters insurance offer: On Lemonade

*Data and rankings come from Realtor.com’s “January 2023 Rental Report: Least Expensive Metros See Faster Rent Growth” report. The rent totals are based on the average price of a two-bedroom apartment.

9. Cleveland-Elyria, Ohio

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Median rent: $1,290

Rental vacancy rate: 3.1 percent

Bottom line: Ohio is growing by leaps and bounds. As former big city dwellers look for more affordable options, they should not sleep on Cleveland and the surrounding areas.

Cleveland has a burgeoning startup scene with organizations supporting entrepreneurship, such as JumpStart Inc. and the Cleveland Innovation Project. Several colleges and universities are also in the area providing opportunities for education as well as employment.

The tourism sector also offers plenty of work opportunities, as the city is home to the Rock and Roll Hall of Fame and the Cleveland Museum of Art. If you want a quieter locale to call home, nearby Elyria has a population of about 53,000 and offers even more affordable living.

Renters insurance offer: On Lemonade

8. St. Louis, Missouri-Illinois

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Median rent: $1,279

Rental vacancy rate: 8.2 percent

Bottom line: The St. Louis area has had its ups and downs, but the cost of living is a whopping 15 percent less than the national average, whether you’re looking to rent or buy.

Job opportunities are plentiful. The area has a diverse economy with opportunities in healthcare, education, finance, and technology, among other industries. Anheuser-Busch, Express Scripts, and Panera Bread are among the corporate giants with headquarters here.

St. Louis is also a sports town. The St. Louis Cardinals and St. Louis Blues call the area home, and the city hosts major sporting events throughout the year, including the PGA Championship and the NCAA men’s basketball tournament.

Renters insurance offer: On Lemonade

7. Memphis, Tennessee-Mississippi-Arkansas

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Median rent: $1,274

Rental vacancy rate: 6.7 percent

Bottom line: If you love music and affordable living, the Memphis area may be the place for you. Known as the “Home of the Blues” and the “Birthplace of Rock and Roll,” Elvis Presley, B.B. King, and Johnny Cash are legends from the area that have impacted its rich musical heritage.

The city also has many live music venues and events, including the famous Beale Street Music Festival.

People looking for careers in healthcare, logistics, and manufacturing need look no further than Bluff City, which is home to corporations FedEx and St. Jude Children’s Research Hospital.

Renters insurance offer: On Lemonade

6. Indianapolis-Carmel-Anderson, Indiana

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Median rent: $1,266

Rental vacancy rate: 9.8 percent

Bottom line: Indianapolis and its surrounding areas offer affordable living for those wishing to escape high rents in larger cities. The area has a strong economy with jobs in healthcare, tech, and manufacturing and is home to major corporations like Eli Lilly and Salesforce.

If you’re a sports fan or wish to work in that particular industry, you’ll love it here. The area is home to the Indianapolis Colts (football) and the Indiana Pacers (basketball). And don’t forget the iconic Indy 500.

Renters insurance offer: On Lemonade

5. Columbus, Ohio

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Median rent: $1,242

Rental vacancy rate: 4.2 percent

Bottom line: If you’re looking for an urban environment without the major price tag, give Columbus some thought. Rent is well below the national average, as are groceries, healthcare, and utilities.

Among Columbus’s main industries are finance, education, and tech. Huntington Bancshares, Big Lots, Bob Evans Restaurants, and Cardinal Health are just some of the employers in the area.

While Columbus is cheaper for renting and buying a home, it has become more competitive to find a place to live over the last several years. So if you’re planning on making a move, make sure you have a decent credit score.

Renters insurance offer: On Lemonade

4. Rochester, New York

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Median rent: $1,235

Rental vacancy rate: 3.7 percent

Bottom line: The only northeast city on the list, Rochester rents have yet to really skyrocket. However, this may not last, as the city (after a few decades of population and industry decline) is making a comeback.

If you’re a looking for a job in healthcare, Rochester is home to several hospitals and medical research institutions, including the University of Rochester Medical Center, Rochester Regional Health, and the Golisano Children’s Hospital. Kodak and Xerox are still headquartered in the Flower City, as are PayChex, the Gleason Corporation, and Rochester Precision Optics.

The city is also home to several colleges and universities, including the University of Rochester, the Rochester Institute of Technology, and Monroe Community College.

Renters insurance offer: On Lemonade

3. Birmingham-Hoover, Alabama

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Median rent: $1,178

Rental vacancy rate: 13.2 percent

Bottom line: Want a low cost of living with all the bells and whistles of thriving metropolitan areas? Magic City and its suburbs offer residents a low cost of living, a thriving job market, and unique cultural experiences.

For healthcare practitioners, Birmingham has several hospitals and medical research institutions to choose from when looking for business opportunities. These include UAB Hospital, Children’s of Alabama, and the Birmingham VA Medical Center.

The area is strong in banking and finance, manufacturing, tech, and hospitality. For college students seeking a cheap place to live and attend school, the University of Alabama at Birmingham and Samford University are both solid options.

2. Louisville/Jefferson County, Kentucky-Indiana

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Median rent: $1,167

Rental vacancy rate: 5.9 percent

Bottom line: When you think “affordable,” Louisville is indeed a viable option. Not only is rent a whopping 21 percent lower than the national average, but grocery prices are about 6 percent lower than what people in other urban areas typically pay.

The city and surrounding areas are rife with opportunities in logistics, manufacturing, and education. Humana, UPS, Ford Motor Company, Norton Healthcare and Baptist Health Louisville are all big employers here, as are the University of Louisville and Bellarmine University.

Renters insurance offer: On Lemonade

1. Oklahoma City, Oklahoma

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Median rent: $982

Rental vacancy rate: 12.5 percent

Bottom line: With a population of more than half a million, Oklahoma City is one of the largest cities in the Midwest and is the top dog when it comes to cheap rent, as it is still less than $1,000 a month on average.

With a 3.7 percent unemployment rate, you could say business is booming. Should you wish to make a move, you’ll find plenty of opportunities in energy, aviation, and healthcare. Hobby Lobby, Devon Energy, Integris Health, and Tinker Air Force Base are big employers in the area.

The city is also home to the University of Oklahoma Health Sciences Center and Oklahoma City University.

Renters insurance offer: On Lemonade