24/7 Wall St. Insights

• 24/7 Wall St. identified the 50 cities with the lowest rents by reviewing data for 384 metro areas from the U.S. Census Bureau’s 2022 American Community Survey.
• Median rent prices range from $858 per month to about $670 on this list — the median monthly rental price nationwide is approximately $1,300.
• Of the 50 metro areas on this list, half are located in the South.
• Also: 2 Dividend Legends To Hold Forever

Although owning a home is a goal for many, there can be benefits to renting depending on your situation. Owning a home can be expensive when it comes to costly repairs and maintenance. Renting bypasses these unexpected financial hardships. Renters don’t need to come up with a sizable down payment or pay yearly real estate taxes. Also, there may be amenities in rental properties such as pools or gyms that you don’t typically get from owning a home, and finally, renters have greater flexibility if they need to move.

Using data for 384 metro areas from the U.S. Census Bureau’s 2022 American Community Survey, 24/7 Wall St. identified the 50 cities with the lowest rents. Cities are ranked by monthly median gross rental price in 2022. All supplemental data in this story, including rental unit size, housing units occupied by renters, median income, rent-to-income ratios, and population are also from the 2022 ACS. 

Aside from the benefits some may gain by renting, some Americans rely on renting because of the high cost of home ownership. In most places in the U.S., renting is a more affordable option than buying a home. (These are the states where saving enough to buy a house takes the longest.)

Of the 50 metro areas on this list, half are located in the South, and 17 are in the Midwest – regions that tend to have below-average living costs. Meanwhile, only three of these metro areas are in the West, and five are in the Northeast. Median rent prices range from $858 per month to about $670 on this list while the median monthly rental price nationwide is approximately $1,300. (These are the states with the worst housing shortages for low-income Americans.)

Why This Matters

24/7 wants to help you better understand your money, and how to spend it wisely. We’re covering the cities with the cheapest rents in America to help you understand if living in your city is worth your hard-earned dollar, or whether there is a more affordable option nearby. The cities on this list tend to have lower-than-average incomes, with a typical household earning anywhere from about $44,300 to $74,000 a year, according to the 2022 ACS. Even so, renting remains relatively affordable as median rental prices account for 30% or less of the typical income in these areas.

50. Huntington-Ashland, WV-KY-OH

• Monthly rent in 2022 (median): $858
• Rent as pct. of household income (median): 30.9%
• Renter occupied households: 25.7%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $56,806

49. Johnson City, TN

• Monthly rent in 2022 (median): $857
• Rent as pct. of household income (median): 28.0%
• Renter occupied households: 31.3%
• Size of rental unit (median): 4.3 rooms
• Household income (median): $58,660

48. Springfield, OH

• Monthly rent in 2022 (median): $856
• Rent as pct. of household income (median): 27.4%
• Renter occupied households: 32.0%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $56,132

47. Kokomo, IN

• Monthly rent in 2022 (median): $856
• Rent as pct. of household income (median): 32.6%
• Renter occupied households: 25.7%
• Size of rental unit (median): 4.4 rooms
• Household income (median): $55,297

46. Muncie, IN

• Monthly rent in 2022 (median): $854
• Rent as pct. of household income (median): 34.0%
• Renter occupied households: 33.8%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $54,087

45. Pocatello, ID

• Monthly rent in 2022 (median): $853
• Rent as pct. of household income (median): 29.5%
• Renter occupied households: 31.1%
• Size of rental unit (median): 4.3 rooms
• Household income (median): $61,566

44. Battle Creek, MI

• Monthly rent in 2022 (median): $853
• Rent as pct. of household income (median): 30.0%
• Renter occupied households: 23.7%
• Size of rental unit (median): 4.3 rooms
• Household income (median): $59,522

43. Bloomsburg-Berwick, PA

• Monthly rent in 2022 (median): $853
• Rent as pct. of household income (median): 26.8%
• Renter occupied households: 29.4%
• Size of rental unit (median): 4.7 rooms
• Household income (median): $62,314

42. Las Cruces, NM

• Monthly rent in 2022 (median): $850
• Rent as pct. of household income (median): 36.1%
• Renter occupied households: 33.5%
• Size of rental unit (median): 4.1 rooms
• Household income (median): $51,967

41. Dalton, GA

• Monthly rent in 2022 (median): $847
• Rent as pct. of household income (median): 30.3%
• Renter occupied households: 34.2%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $62,644

40. Rocky Mount, NC

• Monthly rent in 2022 (median): $847
• Rent as pct. of household income (median): 23.9%
• Renter occupied households: 39.2%
• Size of rental unit (median): 4.7 rooms
• Household income (median): $53,896

39. Canton-Massillon, OH

• Monthly rent in 2022 (median): $842
• Rent as pct. of household income (median): 26.5%
• Renter occupied households: 30.1%
• Size of rental unit (median): 4.9 rooms
• Household income (median): $64,546

38. Great Falls, MT

• Monthly rent in 2022 (median): $837
• Rent as pct. of household income (median): 25.1%
• Renter occupied households: 30.7%
• Size of rental unit (median): 4.3 rooms
• Household income (median): $58,698

37. Joplin, MO

• Monthly rent in 2022 (median): $836
• Rent as pct. of household income (median): 27.7%
• Renter occupied households: 33.4%
• Size of rental unit (median): 4.4 rooms
• Household income (median): $54,041

36. Jonesboro, AR

• Monthly rent in 2022 (median): $832
• Rent as pct. of household income (median): 32.0%
• Renter occupied households: 37.4%
• Size of rental unit (median): 4.2 rooms
• Household income (median): $59,582

35. Bay City, MI

• Monthly rent in 2022 (median): $829
• Rent as pct. of household income (median): 29.0%
• Renter occupied households: 25.3%
• Size of rental unit (median): 4.4 rooms
• Household income (median): $55,134

34. Texarkana, TX-AR

• Monthly rent in 2022 (median): $827
• Rent as pct. of household income (median): 33.4%
• Renter occupied households: 34.3%
• Size of rental unit (median): 4.4 rooms
• Household income (median): $48,230

33. Florence-Muscle Shoals, AL

• Monthly rent in 2022 (median): $826
• Rent as pct. of household income (median): 25.2%
• Renter occupied households: 30.6%
• Size of rental unit (median): 4.6 rooms
• Household income (median): $56,563

32. Williamsport, PA

• Monthly rent in 2022 (median): $823
• Rent as pct. of household income (median): 26.9%
• Renter occupied households: 30.0%
• Size of rental unit (median): 4.4 rooms
• Household income (median): $62,516

31. Grand Island, NE

• Monthly rent in 2022 (median): $823
• Rent as pct. of household income (median): 25.7%
• Renter occupied households: 33.2%
• Size of rental unit (median): 3.9 rooms
• Household income (median): $67,646

30. Cedar Rapids, IA

• Monthly rent in 2022 (median): $820
• Rent as pct. of household income (median): 26.5%
• Renter occupied households: 23.5%
• Size of rental unit (median): 3.8 rooms
• Household income (median): $73,895

29. St. Joseph, MO-KS

• Monthly rent in 2022 (median): $818
• Rent as pct. of household income (median): 25.7%
• Renter occupied households: 31.2%
• Size of rental unit (median): 4.4 rooms
• Household income (median): $60,582

28. Jefferson City, MO

• Monthly rent in 2022 (median): $816
• Rent as pct. of household income (median): 21.5%
• Renter occupied households: 29.2%
• Size of rental unit (median): 4.4 rooms
• Household income (median): $71,396

27. Charleston, WV

• Monthly rent in 2022 (median): $816
• Rent as pct. of household income (median): 27.6%
• Renter occupied households: 31.1%
• Size of rental unit (median): 4.7 rooms
• Household income (median): $53,157

26. Decatur, AL

• Monthly rent in 2022 (median): $813
• Rent as pct. of household income (median): 26.5%
• Renter occupied households: 23.3%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $60,663

25. Erie, PA

• Monthly rent in 2022 (median): $812
• Rent as pct. of household income (median): 29.7%
• Renter occupied households: 30.3%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $56,094

24. Owensboro, KY

• Monthly rent in 2022 (median): $807
• Rent as pct. of household income (median): 25.8%
• Renter occupied households: 28.3%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $66,211

23. Weirton-Steubenville, WV-OH

• Monthly rent in 2022 (median): $806
• Rent as pct. of household income (median): 31.5%
• Renter occupied households: 27.3%
• Size of rental unit (median): 5.0 rooms
• Household income (median): $58,076

22. Cape Girardeau, MO-IL

• Monthly rent in 2022 (median): $804
• Rent as pct. of household income (median): 29.3%
• Renter occupied households: 35.6%
• Size of rental unit (median): 4.3 rooms
• Household income (median): $60,315

21. Kingsport-Bristol, TN-VA

• Monthly rent in 2022 (median): $804
• Rent as pct. of household income (median): 26.2%
• Renter occupied households: 25.2%
• Size of rental unit (median): 4.6 rooms
• Household income (median): $52,887

20. Florence, SC

• Monthly rent in 2022 (median): $803
• Rent as pct. of household income (median): 36.3%
• Renter occupied households: 35.5%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $50,219

19. Gadsden, AL

• Monthly rent in 2022 (median): $796
• Rent as pct. of household income (median): 28.3%
• Renter occupied households: 26.7%
• Size of rental unit (median): 4.6 rooms
• Household income (median): $57,098

18. Altoona, PA

• Monthly rent in 2022 (median): $796
• Rent as pct. of household income (median): 29.0%
• Renter occupied households: 30.1%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $58,022

17. Morristown, TN

• Monthly rent in 2022 (median): $795
• Rent as pct. of household income (median): 28.0%
• Renter occupied households: 24.7%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $59,099

16. Enid, OK

• Monthly rent in 2022 (median): $792
• Rent as pct. of household income (median): 25.5%
• Renter occupied households: 34.2%
• Size of rental unit (median): 4.9 rooms
• Household income (median): $55,131

15. Wheeling, WV-OH

• Monthly rent in 2022 (median): $787
• Rent as pct. of household income (median): 34.7%
• Renter occupied households: 26.6%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $56,218

14. Hickory-Lenoir-Morganton, NC

• Monthly rent in 2022 (median): $780
• Rent as pct. of household income (median): 27.7%
• Renter occupied households: 25.2%
• Size of rental unit (median): 4.3 rooms
• Household income (median): $60,209

13. Mansfield, OH

• Monthly rent in 2022 (median): $774
• Rent as pct. of household income (median): 27.7%
• Renter occupied households: 30.7%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $53,047

12. Decatur, IL

• Monthly rent in 2022 (median): $774
• Rent as pct. of household income (median): 26.5%
• Renter occupied households: 27.0%
• Size of rental unit (median): 4.2 rooms
• Household income (median): $60,332

11. Dothan, AL

• Monthly rent in 2022 (median): $774
• Rent as pct. of household income (median): 26.6%
• Renter occupied households: 29.8%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $58,054

10. Fort Smith, AR-OK

• Monthly rent in 2022 (median): $765
• Rent as pct. of household income (median): 25.7%
• Renter occupied households: 33.6%
• Size of rental unit (median): 4.3 rooms
• Household income (median): $49,980

9. Pine Bluff, AR

• Monthly rent in 2022 (median): $763
• Rent as pct. of household income (median): 35.6%
• Renter occupied households: 32.6%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $44,263

8. Parkersburg-Vienna, WV

• Monthly rent in 2022 (median): $761
• Rent as pct. of household income (median): 30.0%
• Renter occupied households: 24.5%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $55,222

7. Carbondale-Marion, IL

• Monthly rent in 2022 (median): $754
• Rent as pct. of household income (median): 29.6%
• Renter occupied households: 37.1%
• Size of rental unit (median): 4.2 rooms
• Household income (median): $55,289

6. Danville, IL

• Monthly rent in 2022 (median): $743
• Rent as pct. of household income (median): 28.0%
• Renter occupied households: 34.7%
• Size of rental unit (median): 4.5 rooms
• Household income (median): $51,515

5. Beckley, WV

• Monthly rent in 2022 (median): $735
• Rent as pct. of household income (median): 33.1%
• Renter occupied households: 27.2%
• Size of rental unit (median): 4.7 rooms
• Household income (median): $52,633

4. Youngstown-Warren-Boardman, OH-PA

• Monthly rent in 2022 (median): $725
• Rent as pct. of household income (median): 27.7%
• Renter occupied households: 28.9%
• Size of rental unit (median): 4.6 rooms
• Household income (median): $54,506

3. Johnstown, PA

• Monthly rent in 2022 (median): $691
• Rent as pct. of household income (median): 29.5%
• Renter occupied households: 24.8%
• Size of rental unit (median): 4.7 rooms
• Household income (median): $54,905

2. Cumberland, MD-WV

• Monthly rent in 2022 (median): $670
• Rent as pct. of household income (median): 31.5%
• Renter occupied households: 27.9%
• Size of rental unit (median): 4.8 rooms
• Household income (median): $54,618

1. Anniston-Oxford, AL

• Monthly rent in 2022 (median): $669
• Rent as pct. of household income (median): 26.5%
• Renter occupied households: 28.1%
• Size of rental unit (median): 4.5 rooms

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