Rents in the United States hit a record high in April, according to real estate listing site Realtor.com, with rents rising 16.7% compared to the previous year. In contrast, over the previous five years, gross rents increased by 18.1%.
Rising housing costs have put a serious squeeze on the millions of Americans, typically younger ones, who already cannot afford to own a home. Many of those who are already being affected by inflation are likely looking to live in places with more affordable rentals.
To determine the towns with the lowest rent, 24/7 Wall St. reviewed five-year estimates of median gross rent from the U.S. Census Bureau’s 2020 American Community Survey. We defined towns as census places having at least 1,000 people and less than 25,000 people. The median gross rent across the United States is $1,096, and in these 50 towns, it ranges from $498 to as low as $279.
Arizona and Mississippi have the most places on this list, with five each. Kentucky, North Carolina, and Tennessee have four each. Just under two-thirds of the towns on this list are in the South, nine are in the Midwest, six in the West, and just three in the Northeast.
Broadly speaking, housing costs reflect the income levels of the population living there. Housing costs tend to be more expensive in wealthier communities, while places with high levels of poverty tend to have cheaper housing. The 50 towns on the list are some of the poorest parts of the country. All but two have lower median household incomes compared to the national figure of $5,416 per month. In Waldoboro, Maine, which has the lowest median gross rent, at $279, the typical household has a monthly income of $1,240, the lowest figure out of the 5,375 towns with data available. This is the poorest town in every state.
But even when accounting for these lower incomes, many of these cities have more affordable rental units compared to the country as a whole. Nationwide, the annual median gross rent is equivalent to 29.6% of the median household income. In 24 of the 50 cities on this list, median rent accounts for a smaller share of income. In San Carlos, Arizona, rent costs amount to 11.9% of household income. These are the states with the lowest and highest rent.
Click here to see towns with the most expensive rent
To determine the towns with the lowest rent, 24/7 Wall St. reviewed five-year estimates of median gross rent from the U.S. Census Bureau’s 2020 American Community Survey.
We used census “place” geographies — a category that includes incorporated legal entities and census-designated statistical entities. We defined towns based on population thresholds — having at least 1,000 people and less than 25,000 people.
Towns were excluded if median gross rent was not available in the 2020 ACS, if there were fewer than 500 renter-occupied housing units, or if the sampling error associated with a town’s data was deemed too high.
The sampling error was defined as too high if the coefficient of variation — a statistical assessment of how reliable an estimate is — for a town’s median gross rent was above 15% and greater than two standard deviations above the mean CV for all towns’ median gross rents. We similarly excluded towns that had a sampling error too high for their population, using the same definition.
Towns were ranked based on the median gross rent. To break ties, we used the median gross rent as a share of household income.
Additional information on median gross rent as a share of household income, share of households occupied by renters, and median home value are also five-year estimates from the 2020 ACS.
50. Lyons, Georgia
> Median monthly rental cost: $498
> Share of income typically spent on rent: 32.6% — 1,314th highest of 5,275 towns (tied)
> Rental occupied housing units: 46.2% — 1,530th highest of 5,275 towns
> Median home value: $72,400 — 235th lowest of 5,198 towns (tied)
[in-text-ad]
49. North Braddock, Pennsylvania
> Median monthly rental cost: $498
> Share of income typically spent on rent: 30.8% — 1,882nd highest of 5,275 towns (tied)
> Rental occupied housing units: 46.2% — 1,521st highest of 5,275 towns
> Median home value: $46,000 — 29th lowest of 5,198 towns
24/7 Wall St.
48. Flemingsburg, Kentucky
> Median monthly rental cost: $498
> Share of income typically spent on rent: 25.4% — 1,133rd lowest of 5,275 towns (tied)
> Rental occupied housing units: 54.5% — 702nd highest of 5,275 towns
> Median home value: $86,000 — 538th lowest of 5,198 towns (tied)
47. Mountain Grove, Missouri
> Median monthly rental cost: $496
> Share of income typically spent on rent: 30.7% — 1,925th highest of 5,275 towns (tied)
> Rental occupied housing units: 31.0% — 1,442nd lowest of 5,275 towns
> Median home value: $77,000 — 331st lowest of 5,198 towns
[in-text-ad-2]
46. Hamilton, Alabama
> Median monthly rental cost: $496
> Share of income typically spent on rent: 30.2% — 2,091st highest of 5,275 towns (tied)
> Rental occupied housing units: 42.9% — 2,024th highest of 5,275 towns
> Median home value: $101,400 — 996th lowest of 5,198 towns (tied)
45. Spencer, West Virginia
> Median monthly rental cost: $493
> Share of income typically spent on rent: 38.3% — 406th highest of 5,275 towns (tied)
> Rental occupied housing units: 55.3% — 645th highest of 5,275 towns
> Median home value: $82,000 — 444th lowest of 5,198 towns (tied)
[in-text-ad]
44. Grayson, Kentucky
> Median monthly rental cost: $491
> Share of income typically spent on rent: 36.5% — 596th highest of 5,275 towns (tied)
> Rental occupied housing units: 46.8% — 1,442nd highest of 5,275 towns
> Median home value: $124,700 — 1,619th lowest of 5,198 towns (tied)
24/7 Wall St.
43. Ely, Minnesota
> Median monthly rental cost: $490
> Share of income typically spent on rent: 35.5% — 725th highest of 5,275 towns (tied)
> Rental occupied housing units: 41.8% — 2,198th highest of 5,275 towns
> Median home value: $119,400 — 1,488th lowest of 5,198 towns
42. Paintsville, Kentucky
> Median monthly rental cost: $490
> Share of income typically spent on rent: 32.3% — 1,393rd highest of 5,275 towns (tied)
> Rental occupied housing units: 58.4% — 485th highest of 5,275 towns
> Median home value: $164,100 — 2,573rd lowest of 5,198 towns
[in-text-ad-2]
41. Fort Defiance, Arizona
> Median monthly rental cost: $490
> Share of income typically spent on rent: less than 10% — the lowest of 5,275 towns (tied)
> Rental occupied housing units: 46.3% — 1,516th highest of 5,275 towns
> Median home value: $33,700 — 10th lowest of 5,198 towns
40. Stilwell, Oklahoma
> Median monthly rental cost: $489
> Share of income typically spent on rent: 32.1% — 1,449th highest of 5,275 towns (tied)
> Rental occupied housing units: 60.5% — 382nd highest of 5,275 towns
> Median home value: $78,900 — 367th lowest of 5,198 towns (tied)
[in-text-ad]
39. Rocky Top, Tennessee
> Median monthly rental cost: $489
> Share of income typically spent on rent: 23.1% — 462nd lowest of 5,275 towns (tied)
> Rental occupied housing units: 69.7% — 167th highest of 5,275 towns
> Median home value: $70,700 — 206th lowest of 5,198 towns (tied)
24/7 Wall St.
38. Pinckneyville, Illinois
> Median monthly rental cost: $488
> Share of income typically spent on rent: greater than 50% — the highest of 5,275 towns (tied)
> Rental occupied housing units: 38.8% — 2,617th lowest of 5,275 towns
> Median home value: $72,800 — 243rd lowest of 5,198 towns (tied)
37. Bethany, Missouri
> Median monthly rental cost: $486
> Share of income typically spent on rent: 34.8% — 825th highest of 5,275 towns (tied)
> Rental occupied housing units: 40.4% — 2,427th highest of 5,275 towns
> Median home value: $86,300 — 549th lowest of 5,198 towns
[in-text-ad-2]
36. Crisfield, Maryland
> Median monthly rental cost: $486
> Share of income typically spent on rent: 26.9% — 1,673rd lowest of 5,275 towns (tied)
> Rental occupied housing units: 58.2% — 492nd highest of 5,275 towns
> Median home value: $107,500 — 1,147th lowest of 5,198 towns (tied)
35. Berryville, Arkansas
> Median monthly rental cost: $486
> Share of income typically spent on rent: 21.9% — 275th lowest of 5,275 towns (tied)
> Rental occupied housing units: 32.7% — 1,662nd lowest of 5,275 towns
> Median home value: $104,100 — 1,060th lowest of 5,198 towns (tied)
[in-text-ad]
34. Whiteriver, Arizona
> Median monthly rental cost: $485
> Share of income typically spent on rent: 17.7% — 25th lowest of 5,275 towns
> Rental occupied housing units: 56.6% — 583rd highest of 5,275 towns
> Median home value: $57,700 — 77th lowest of 5,198 towns
33. Columbus, Kansas
> Median monthly rental cost: $484
> Share of income typically spent on rent: 25.9% — 1,298th lowest of 5,275 towns (tied)
> Rental occupied housing units: 40.1% — 2,468th highest of 5,275 towns
> Median home value: $58,200 — 82nd lowest of 5,198 towns
32. Madawaska, Maine
> Median monthly rental cost: $483
> Share of income typically spent on rent: 45.0% — 137th highest of 5,275 towns (tied)
> Rental occupied housing units: 43.0% — 1,991st highest of 5,275 towns
> Median home value: $112,500 — 1,286th lowest of 5,198 towns (tied)
[in-text-ad-2]
31. Moulton, Alabama
> Median monthly rental cost: $482
> Share of income typically spent on rent: 24.7% — 935th lowest of 5,275 towns (tied)
> Rental occupied housing units: 40.6% — 2,391st highest of 5,275 towns
> Median home value: $101,100 — 991st lowest of 5,198 towns (tied)
30. Clifton, Arizona
> Median monthly rental cost: $479
> Share of income typically spent on rent: less than 10% — the lowest of 5,275 towns (tied)
> Rental occupied housing units: 74.8% — 130th highest of 5,275 towns
> Median home value: $71,000 — 210th lowest of 5,198 towns (tied)
[in-text-ad]
29. Deming, New Mexico
> Median monthly rental cost: $478
> Share of income typically spent on rent: 31.0% — 1,811th highest of 5,275 towns (tied)
> Rental occupied housing units: 43.1% — 1,982nd highest of 5,275 towns
> Median home value: $88,200 — 623rd lowest of 5,198 towns (tied)
24/7 Wall St.
28. Red Springs, North Carolina
> Median monthly rental cost: $477
> Share of income typically spent on rent: 34.7% — 847th highest of 5,275 towns (tied)
> Rental occupied housing units: 45.4% — 1,638th highest of 5,275 towns
> Median home value: $63,200 — 113th lowest of 5,198 towns
27. Waynesboro, Mississippi
> Median monthly rental cost: $477
> Share of income typically spent on rent: 30.5% — 1,991st highest of 5,275 towns (tied)
> Rental occupied housing units: 28.4% — 1,132nd lowest of 5,275 towns
> Median home value: $68,300 — 171st lowest of 5,198 towns (tied)
[in-text-ad-2]
26. Mullins, South Carolina
> Median monthly rental cost: $477
> Share of income typically spent on rent: 28.3% — 2,291st lowest of 5,275 towns (tied)
> Rental occupied housing units: 51.7% — 928th highest of 5,275 towns
> Median home value: $79,100 — 374th lowest of 5,198 towns (tied)
25. Kosciusko, Mississippi
> Median monthly rental cost: $465
> Share of income typically spent on rent: 40.5% — 275th highest of 5,275 towns (tied)
> Rental occupied housing units: 51.5% — 942nd highest of 5,275 towns
> Median home value: $104,900 — 1,079th lowest of 5,198 towns (tied)
[in-text-ad]
24. Benton Heights, Michigan
> Median monthly rental cost: $465
> Share of income typically spent on rent: 25.9% — 1,298th lowest of 5,275 towns (tied)
> Rental occupied housing units: 52.7% — 835th highest of 5,275 towns
> Median home value: $66,900 — 153rd lowest of 5,198 towns (tied)
23. Mamou, Louisiana
> Median monthly rental cost: $464
> Share of income typically spent on rent: 29.9% — 2,194th highest of 5,275 towns (tied)
> Rental occupied housing units: 61.9% — 332nd highest of 5,275 towns
> Median home value: $66,300 — 145th lowest of 5,198 towns
22. Wellston, Ohio
> Median monthly rental cost: $463
> Share of income typically spent on rent: 29.9% — 2,194th highest of 5,275 towns (tied)
> Rental occupied housing units: 27.1% — 981st lowest of 5,275 towns
> Median home value: $91,900 — 725th lowest of 5,198 towns (tied)
[in-text-ad-2]
21. Ironwood, Michigan
> Median monthly rental cost: $453
> Share of income typically spent on rent: 22.4% — 329th lowest of 5,275 towns (tied)
> Rental occupied housing units: 34.3% — 1,902nd lowest of 5,275 towns
> Median home value: $52,800 — 55th lowest of 5,198 towns
20. Norton, Virginia
> Median monthly rental cost: $451
> Share of income typically spent on rent: 31.3% — 1,702nd highest of 5,275 towns (tied)
> Rental occupied housing units: 48.2% — 1,269th highest of 5,275 towns
> Median home value: $79,400 — 378th lowest of 5,198 towns (tied)
[in-text-ad]
19. Oneida, Tennessee
> Median monthly rental cost: $449
> Share of income typically spent on rent: 30.7% — 1,925th highest of 5,275 towns (tied)
> Rental occupied housing units: 47.3% — 1,382nd highest of 5,275 towns
> Median home value: $99,900 — 963rd lowest of 5,198 towns (tied)
18. Roma, Texas
> Median monthly rental cost: $447
> Share of income typically spent on rent: 31.9% — 1,508th highest of 5,275 towns (tied)
> Rental occupied housing units: 36.7% — 2,288th lowest of 5,275 towns
> Median home value: $73,700 — 261st lowest of 5,198 towns (tied)
17. Morenci, Arizona
> Median monthly rental cost: $445
> Share of income typically spent on rent: less than 10% — the lowest of 5,275 towns (tied)
> Rental occupied housing units: 100.0% — the highest of 5,275 towns (tied)
> Median home value: N/A
[in-text-ad-2]
16. Tchula, Mississippi
> Median monthly rental cost: $443
> Share of income typically spent on rent: 14.3% — 10th lowest of 5,275 towns
> Rental occupied housing units: 67.1% — 208th highest of 5,275 towns
> Median home value: $57,600 — 75th lowest of 5,198 towns (tied)
15. Antlers, Oklahoma
> Median monthly rental cost: $433
> Share of income typically spent on rent: 31.1% — 1,774th highest of 5,275 towns (tied)
> Rental occupied housing units: 50.6% — 1,040th highest of 5,275 towns
> Median home value: $63,900 — 116th lowest of 5,198 towns
[in-text-ad]
14. Versailles, Missouri
> Median monthly rental cost: $427
> Share of income typically spent on rent: 25.8% — 1,257th lowest of 5,275 towns (tied)
> Rental occupied housing units: 52.5% — 849th highest of 5,275 towns
> Median home value: $83,800 — 485th lowest of 5,198 towns (tied)
13. Albany, Kentucky
> Median monthly rental cost: $419
> Share of income typically spent on rent: 29.4% — 2,400th highest of 5,275 towns (tied)
> Rental occupied housing units: 47.8% — 1,328th highest of 5,275 towns
> Median home value: $77,100 — 332nd lowest of 5,198 towns (tied)
12. Water Valley, Mississippi
> Median monthly rental cost: $418
> Share of income typically spent on rent: 27.3% — 1,834th lowest of 5,275 towns (tied)
> Rental occupied housing units: 40.9% — 2,345th highest of 5,275 towns
> Median home value: $98,800 — 929th lowest of 5,198 towns (tied)
[in-text-ad-2]
11. Zapata, Texas
> Median monthly rental cost: $407
> Share of income typically spent on rent: 31.3% — 1,702nd highest of 5,275 towns (tied)
> Rental occupied housing units: 36.5% — 2,246th lowest of 5,275 towns
> Median home value: $110,500 — 1,227th lowest of 5,198 towns (tied)
10. Iuka, Mississippi
> Median monthly rental cost: $403
> Share of income typically spent on rent: 30.5% — 1,991st highest of 5,275 towns (tied)
> Rental occupied housing units: 43.8% — 1,877th highest of 5,275 towns
> Median home value: $90,900 — 696th lowest of 5,198 towns (tied)
[in-text-ad]
9. Jellico, Tennessee
> Median monthly rental cost: $396
> Share of income typically spent on rent: 23.6% — 594th lowest of 5,275 towns (tied)
> Rental occupied housing units: 54.4% — 709th highest of 5,275 towns
> Median home value: $87,400 — 588th lowest of 5,198 towns (tied)
24/7 Wall St.
8. Jonesville, North Carolina
> Median monthly rental cost: $389
> Share of income typically spent on rent: 33.2% — 1,156th highest of 5,275 towns (tied)
> Rental occupied housing units: 48.5% — 1,243rd highest of 5,275 towns
> Median home value: $99,700 — 957th lowest of 5,198 towns (tied)
7. Presidio, Texas
> Median monthly rental cost: $388
> Share of income typically spent on rent: 24.4% — 829th lowest of 5,275 towns (tied)
> Rental occupied housing units: 57.9% — 514th highest of 5,275 towns
> Median home value: $51,000 — 48th lowest of 5,198 towns
[in-text-ad-2]
6. Jamestown, Tennessee
> Median monthly rental cost: $387
> Share of income typically spent on rent: 29.0% — 2,605th highest of 5,275 towns (tied)
> Rental occupied housing units: 74.0% — 134th highest of 5,275 towns
> Median home value: $69,200 — 187th lowest of 5,198 towns
5. Windsor, North Carolina
> Median monthly rental cost: $380
> Share of income typically spent on rent: 22.4% — 329th lowest of 5,275 towns (tied)
> Rental occupied housing units: 47.8% — 1,322nd highest of 5,275 towns
> Median home value: $105,900 — 1,109th lowest of 5,198 towns (tied)
[in-text-ad]
4. Many, Louisiana
> Median monthly rental cost: $355
> Share of income typically spent on rent: 32.3% — 1,393rd highest of 5,275 towns (tied)
> Rental occupied housing units: 57.3% — 545th highest of 5,275 towns
> Median home value: $98,600 — 919th lowest of 5,198 towns (tied)
3. Wallace, North Carolina
> Median monthly rental cost: $334
> Share of income typically spent on rent: 22.3% — 317th lowest of 5,275 towns (tied)
> Rental occupied housing units: 37.7% — 2,428th lowest of 5,275 towns
> Median home value: $89,100 — 647th lowest of 5,198 towns (tied)
2. San Carlos, Arizona
> Median monthly rental cost: $320
> Share of income typically spent on rent: 11.9% — 6th lowest of 5,275 towns
> Rental occupied housing units: 47.2% — 1,386th highest of 5,275 towns
> Median home value: $50,300 — 45th lowest of 5,198 towns
[in-text-ad-2]
1. Waldoboro, Maine
> Median monthly rental cost: $279
> Share of income typically spent on rent: 26.7% — 1,597th lowest of 5,275 towns (tied)
> Rental occupied housing units: 65.1% — 244th highest of 5,275 towns
> Median home value: $148,100 — 2,166th lowest of 5,198 towns (tied)
“The Next NVIDIA” Could Change Your Life
If you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
Click here to download your FREE copy.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
