Special Report

This City Has the Lowest Rents in America

SWCargill / iStock via Getty Images

Prospective home buyers in the United States are facing some of the least favorable market conditions in decades. Most new homes in the U.S. sold for over $430,000 in the third quarter of 2023, and the average 30-year fixed mortgage rate recently hit a 23 year high. Now, according to a recent study conducted by real estate brokerage company Redfin, it takes an annual household income of at least $115,000 to comfortably afford a median priced home in the United States – and most American households earn less than $75,000 a year. 

Prohibitive homeownership costs have made renting the only option for a growing number of Americans. And in many U.S. cities, renting remains affordable for a much broader range of income levels. (These are the states where saving enough to buy a house takes the longest.)

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. 

Among the metro areas on this list, median rent prices range from $858 per month to about $670. For context, the median monthly rental price nationwide stands at $1,300. 

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. 

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. Still, renting remains relatively affordable, as in the majority of these places, median rental prices account for 30% or less of the typical income, while nationwide, renters spend an average of 31% of their income on housing. (These are the states with the worst housing shortages for low income Americans.)

Here is the city with the lowest rent in America.

50. Huntington-Ashland, WV-KY-OH

  • Median monthly rent, 2022: $858
  • Median rent as pct. of household income: 30.9%
  • Households occupied by renters: 25.7%
  • Median rental unit size: 4.8 rooms
  • Median household income: $56,806
  • Total population: 354,304

49. Johnson City, TN

DenisTangneyJr / iStock via Getty Images
  • Median monthly rent, 2022: $857
  • Median rent as pct. of household income: 28.0%
  • Households occupied by renters: 31.3%
  • Median rental unit size: 4.3 rooms
  • Median household income: $58,660
  • Total population: 211,849

48. Springfield, OH

  • Median monthly rent, 2022: $856
  • Median rent as pct. of household income: 27.4%
  • Households occupied by renters: 32.0%
  • Median rental unit size: 4.8 rooms
  • Median household income: $56,132
  • Total population: 134,831

47. Kokomo, IN

  • Median monthly rent, 2022: $856
  • Median rent as pct. of household income: 32.6%
  • Households occupied by renters: 25.7%
  • Median rental unit size: 4.4 rooms
  • Median household income: $55,297
  • Total population: 83,574

46. Muncie, IN

Roberto Galan / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $854
  • Median rent as pct. of household income: 34.0%
  • Households occupied by renters: 33.8%
  • Median rental unit size: 4.5 rooms
  • Median household income: $54,087
  • Total population: 112,031

45. Pocatello, ID

BOB WESTON / iStock via Getty Images
  • Median monthly rent, 2022: $853
  • Median rent as pct. of household income: 29.5%
  • Households occupied by renters: 31.1%
  • Median rental unit size: 4.3 rooms
  • Median household income: $61,566
  • Total population: 98,560

44. Battle Creek, MI

DenisTangneyJr / iStock via Getty Images
  • Median monthly rent, 2022: $853
  • Median rent as pct. of household income: 30.0%
  • Households occupied by renters: 23.7%
  • Median rental unit size: 4.3 rooms
  • Median household income: $59,522
  • Total population: 133,289

43. Bloomsburg-Berwick, PA

  • Median monthly rent, 2022: $853
  • Median rent as pct. of household income: 26.8%
  • Households occupied by renters: 29.4%
  • Median rental unit size: 4.7 rooms
  • Median household income: $62,314
  • Total population: 83,017

42. Las Cruces, NM

SWCargill / iStock via Getty Images
  • Median monthly rent, 2022: $850
  • Median rent as pct. of household income: 36.1%
  • Households occupied by renters: 33.5%
  • Median rental unit size: 4.1 rooms
  • Median household income: $51,967
  • Total population: 223,337

41. Dalton, GA

sshepard / iStock Unreleased via Getty Images
  • Median monthly rent, 2022: $847
  • Median rent as pct. of household income: 30.3%
  • Households occupied by renters: 34.2%
  • Median rental unit size: 4.5 rooms
  • Median household income: $62,644
  • Total population: 143,604

40. Rocky Mount, NC

  • Median monthly rent, 2022: $847
  • Median rent as pct. of household income: 23.9%
  • Households occupied by renters: 39.2%
  • Median rental unit size: 4.7 rooms
  • Median household income: $53,896
  • Total population: 144,090

39. Canton-Massillon, OH

Sean Pavone / iStock via Getty Images
  • Median monthly rent, 2022: $842
  • Median rent as pct. of household income: 26.5%
  • Households occupied by renters: 30.1%
  • Median rental unit size: 4.9 rooms
  • Median household income: $64,546
  • Total population: 399,316

38. Great Falls, MT

leezsnow / iStock via Getty Images
  • Median monthly rent, 2022: $837
  • Median rent as pct. of household income: 25.1%
  • Households occupied by renters: 30.7%
  • Median rental unit size: 4.3 rooms
  • Median household income: $58,698
  • Total population: 84,864

37. Joplin, MO

Sandra Sapp / iStock via Getty Images
  • Median monthly rent, 2022: $836
  • Median rent as pct. of household income: 27.7%
  • Households occupied by renters: 33.4%
  • Median rental unit size: 4.4 rooms
  • Median household income: $54,041
  • Total population: 184,086

36. Jonesboro, AR

BOB WESTON / iStock via Getty Images
  • Median monthly rent, 2022: $832
  • Median rent as pct. of household income: 32.0%
  • Households occupied by renters: 37.4%
  • Median rental unit size: 4.2 rooms
  • Median household income: $59,582
  • Total population: 135,512

35. Bay City, MI

ShriramPatki / iStock via Getty Images
  • Median monthly rent, 2022: $829
  • Median rent as pct. of household income: 29.0%
  • Households occupied by renters: 25.3%
  • Median rental unit size: 4.4 rooms
  • Median household income: $55,134
  • Total population: 102,821

34. Texarkana, TX-AR

DenisTangneyJr / iStock via Getty Images
  • Median monthly rent, 2022: $827
  • Median rent as pct. of household income: 33.4%
  • Households occupied by renters: 34.3%
  • Median rental unit size: 4.4 rooms
  • Median household income: $48,230
  • Total population: 144,322

33. Florence-Muscle Shoals, AL

  • Median monthly rent, 2022: $826
  • Median rent as pct. of household income: 25.2%
  • Households occupied by renters: 30.6%
  • Median rental unit size: 4.6 rooms
  • Median household income: $56,563
  • Total population: 153,911

32. Williamsport, PA

Alex Potemkin / iStock via Getty Images
  • Median monthly rent, 2022: $823
  • Median rent as pct. of household income: 26.9%
  • Households occupied by renters: 30.0%
  • Median rental unit size: 4.4 rooms
  • Median household income: $62,516
  • Total population: 113,104

31. Grand Island, NE

Cheri Alguire / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $823
  • Median rent as pct. of household income: 25.7%
  • Households occupied by renters: 33.2%
  • Median rental unit size: 3.9 rooms
  • Median household income: $67,646
  • Total population: 76,333

30. Cedar Rapids, IA

ChrisBoswell / iStock via Getty Images
  • Median monthly rent, 2022: $820
  • Median rent as pct. of household income: 26.5%
  • Households occupied by renters: 23.5%
  • Median rental unit size: 3.8 rooms
  • Median household income: $73,895
  • Total population: 275,592

29. St. Joseph, MO-KS

BOB WESTON / iStock via Getty Images
  • Median monthly rent, 2022: $818
  • Median rent as pct. of household income: 25.7%
  • Households occupied by renters: 31.2%
  • Median rental unit size: 4.4 rooms
  • Median household income: $60,582
  • Total population: 119,619

28. Jefferson City, MO

DenisTangneyJr / iStock via Getty Images
  • Median monthly rent, 2022: $816
  • Median rent as pct. of household income: 21.5%
  • Households occupied by renters: 29.2%
  • Median rental unit size: 4.4 rooms
  • Median household income: $71,396
  • Total population: 147,800

27. Charleston, WV

BSPollard / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $816
  • Median rent as pct. of household income: 27.6%
  • Households occupied by renters: 31.1%
  • Median rental unit size: 4.7 rooms
  • Median household income: $53,157
  • Total population: 250,554

26. Decatur, AL

  • Median monthly rent, 2022: $813
  • Median rent as pct. of household income: 26.5%
  • Households occupied by renters: 23.3%
  • Median rental unit size: 4.8 rooms
  • Median household income: $60,663
  • Total population: 157,425

25. Erie, PA

zrfphoto / iStock via Getty Images
  • Median monthly rent, 2022: $812
  • Median rent as pct. of household income: 29.7%
  • Households occupied by renters: 30.3%
  • Median rental unit size: 4.5 rooms
  • Median household income: $56,094
  • Total population: 267,689

24. Owensboro, KY

DenisTangneyJr / iStock via Getty Images
  • Median monthly rent, 2022: $807
  • Median rent as pct. of household income: 25.8%
  • Households occupied by renters: 28.3%
  • Median rental unit size: 4.5 rooms
  • Median household income: $66,211
  • Total population: 120,304

23. Weirton-Steubenville, WV-OH

  • Median monthly rent, 2022: $806
  • Median rent as pct. of household income: 31.5%
  • Households occupied by renters: 27.3%
  • Median rental unit size: 5.0 rooms
  • Median household income: $58,076
  • Total population: 114,066

22. Cape Girardeau, MO-IL

Roberto Galan / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $804
  • Median rent as pct. of household income: 29.3%
  • Households occupied by renters: 35.6%
  • Median rental unit size: 4.3 rooms
  • Median household income: $60,315
  • Total population: 95,449

21. Kingsport-Bristol, TN-VA

J. Michael Jones / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $804
  • Median rent as pct. of household income: 26.2%
  • Households occupied by renters: 25.2%
  • Median rental unit size: 4.6 rooms
  • Median household income: $52,887
  • Total population: 310,483

20. Florence, SC

felixmizioznikov / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $803
  • Median rent as pct. of household income: 36.3%
  • Households occupied by renters: 35.5%
  • Median rental unit size: 4.5 rooms
  • Median household income: $50,219
  • Total population: 199,119

19. Gadsden, AL

  • Median monthly rent, 2022: $796
  • Median rent as pct. of household income: 28.3%
  • Households occupied by renters: 26.7%
  • Median rental unit size: 4.6 rooms
  • Median household income: $57,098
  • Total population: 103,088

18. Altoona, PA

catnap72 / iStock via Getty Images
  • Median monthly rent, 2022: $796
  • Median rent as pct. of household income: 29.0%
  • Households occupied by renters: 30.1%
  • Median rental unit size: 4.8 rooms
  • Median household income: $58,022
  • Total population: 121,032

17. Morristown, TN

Dee / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $795
  • Median rent as pct. of household income: 28.0%
  • Households occupied by renters: 24.7%
  • Median rental unit size: 4.5 rooms
  • Median household income: $59,099
  • Total population: 146,172

16. Enid, OK

BOB WESTON / iStock via Getty Images
  • Median monthly rent, 2022: $792
  • Median rent as pct. of household income: 25.5%
  • Households occupied by renters: 34.2%
  • Median rental unit size: 4.9 rooms
  • Median household income: $55,131
  • Total population: 61,920

15. Wheeling, WV-OH

ChrisBoswell / iStock via Getty Images
  • Median monthly rent, 2022: $787
  • Median rent as pct. of household income: 34.7%
  • Households occupied by renters: 26.6%
  • Median rental unit size: 4.8 rooms
  • Median household income: $56,218
  • Total population: 136,708

14. Hickory-Lenoir-Morganton, NC

traveler1116 / iStock via Getty Images
  • Median monthly rent, 2022: $780
  • Median rent as pct. of household income: 27.7%
  • Households occupied by renters: 25.2%
  • Median rental unit size: 4.3 rooms
  • Median household income: $60,209
  • Total population: 368,347

13. Mansfield, OH

  • Median monthly rent, 2022: $774
  • Median rent as pct. of household income: 27.7%
  • Households occupied by renters: 30.7%
  • Median rental unit size: 4.5 rooms
  • Median household income: $53,047
  • Total population: 125,319

12. Decatur, IL

benkrut / iStock via Getty Images
  • Median monthly rent, 2022: $774
  • Median rent as pct. of household income: 26.5%
  • Households occupied by renters: 27.0%
  • Median rental unit size: 4.2 rooms
  • Median household income: $60,332
  • Total population: 101,483

11. Dothan, AL

miroslav_1 / iStock Editorial via Getty Images
  • Median monthly rent, 2022: $774
  • Median rent as pct. of household income: 26.6%
  • Households occupied by renters: 29.8%
  • Median rental unit size: 4.8 rooms
  • Median household income: $58,054
  • Total population: 152,517

10. Fort Smith, AR-OK

peeterv / iStock via Getty Images
  • Median monthly rent, 2022: $765
  • Median rent as pct. of household income: 25.7%
  • Households occupied by renters: 33.6%
  • Median rental unit size: 4.3 rooms
  • Median household income: $49,980
  • Total population: 246,751

9. Pine Bluff, AR

Public Domain / Wikimedia Commons
  • Median monthly rent, 2022: $763
  • Median rent as pct. of household income: 35.6%
  • Households occupied by renters: 32.6%
  • Median rental unit size: 4.8 rooms
  • Median household income: $44,263
  • Total population: 84,460

8. Parkersburg-Vienna, WV

DenisTangneyJr / E+ via Getty Images
  • Median monthly rent, 2022: $761
  • Median rent as pct. of household income: 30.0%
  • Households occupied by renters: 24.5%
  • Median rental unit size: 4.8 rooms
  • Median household income: $55,222
  • Total population: 89,559

7. Carbondale-Marion, IL

wellesenterprises / iStock via Getty Images
  • Median monthly rent, 2022: $754
  • Median rent as pct. of household income: 29.6%
  • Households occupied by renters: 37.1%
  • Median rental unit size: 4.2 rooms
  • Median household income: $55,289
  • Total population: 132,563

6. Danville, IL

  • Median monthly rent, 2022: $743
  • Median rent as pct. of household income: 28.0%
  • Households occupied by renters: 34.7%
  • Median rental unit size: 4.5 rooms
  • Median household income: $51,515
  • Total population: 72,337

5. Beckley, WV

hkim39 / iStock via Getty Images
  • Median monthly rent, 2022: $735
  • Median rent as pct. of household income: 33.1%
  • Households occupied by renters: 27.2%
  • Median rental unit size: 4.7 rooms
  • Median household income: $52,633
  • Total population: 112,369

4. Youngstown-Warren-Boardman, OH-PA

  • Median monthly rent, 2022: $725
  • Median rent as pct. of household income: 27.7%
  • Households occupied by renters: 28.9%
  • Median rental unit size: 4.6 rooms
  • Median household income: $54,506
  • Total population: 535,499

3. Johnstown, PA

WilliamSherman / iStock via Getty Images
  • Median monthly rent, 2022: $691
  • Median rent as pct. of household income: 29.5%
  • Households occupied by renters: 24.8%
  • Median rental unit size: 4.7 rooms
  • Median household income: $54,905
  • Total population: 131,441

2. Cumberland, MD-WV

DenisTangneyJr / iStock via Getty Images
  • Median monthly rent, 2022: $670
  • Median rent as pct. of household income: 31.5%
  • Households occupied by renters: 27.9%
  • Median rental unit size: 4.8 rooms
  • Median household income: $54,618
  • Total population: 94,122

1. Anniston-Oxford, AL

Allard1 / iStock via Getty Images
  • Median monthly rent, 2022: $669
  • Median rent as pct. of household income: 26.5%
  • Households occupied by renters: 28.1%
  • Median rental unit size: 4.5 rooms
  • Median household income: $52,819
  • Total population: 115,788

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.