The real estate world is currently off the charts, but not everyone is in the market for a home right now. We just learned what the cheapest state to buy home is, but what about renters? The U.S. Census recently released data that showed an increase in people moving out of large cities and into smaller towns during the pandemic, which consequently sent rent prices through the roof all over the country. So, rent.com decided to take a look at which cities maintained the cheapest prices throughout all of these changes.
The findings concluded that 21 cities have a median rent of $1,000 or less, and 40 cities experienced a decrease in rent year-over-year. The brand explored the average rent for both one and two bedrooms, monetary increase, and year-over-year change in costs across all U.S. cities with a population above 50,000.
Video of the Day
Springfield, Missouri, home of Missouri State University, takes the cake for having the cheapest rent, with the average cost of leasing at around $662 per month. Springfield is followed by Wichita, Kansas, Ames, Iowa, and Jonesboro, Arkansas.
Of the top 15 cheapest cities, El Paso, Texas, sliding in at number 14, is the largest in population with 700,000 residents. Interestingly enough, Texas holds the most cities on the list with the cheapest rent, with 18 out of the top 100 residing in that state. North Carolina follows closely behind with 10 out of 100 inexpensive cities.
One of the top 100 cities, Pearland, Texas, actually experienced the greatest decrease in rent year-over-year, with units decreasing by $1,243.
Many of the cheapest rental locations can be found in the southern states, so pack your shorts and get ready for some delicious southern comfort food, if you're considering making a move. You can read the full list, among other findings, on rent.com.