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Cheapest cities to rent an apartment

Looking for an apartment to rent is one of the major challenges you face when you are new to the city. Apartment prices will depend on a number of factors like area, the neighborhoods around, construction, and more. But not all apartment prices are sky-high. There are cheap apartments across various cities, which may come with average monthly rents as low as $550. Although such apartments are often small, they may offer various amenities.

Detroit, Michigan: Apart from the cost of making some minor changes and renovations to the apartment you are trying to rent, Detroit homes can certainly be rented for cheap. The monthly median rent ranges on an average between $550 to $560. Apartments are cheap and affordable according to the cost of cost of living standards of the city, even cheap to purchase at just an average of under $43000.

Shreveport, Louisiana: Probably one of the cheapest cities in the State of Louisiana, since it offers the lowest real estate tax rates in the country. The cost of purchasing a home is very expensive here, but the average monthly home rent is just under $578 with a cost of living standard which is a little less than that of Detroit.

Akron, Ohio: The city which his also know as the rubber capital on account of the rubber tire industry which manufactured most of the country’s stock. Akron boats a number of research and development facilities, even after most of its rubber factories were shutdown. The real estate is also right on point with an average median rent of just $541 per month.

Birmingham, Alabama: The largest city in Alabama, but houses only 60% of the population compared to what the number was back in the day. This has helped boost real estate where the demand is low and thus prices are within budget, for both purchasing and renting for that matter. The monthly median rent is just under $520 which makes it a cheap place to live.

Buffalo, New York: In New York city, you might just get a decent apartment for an average of $1000 a month. But here in Buffalo, you can easily afford a decent place for almost half the price. The cost of living standard is right around that of Shreveport, but that doesn’t majorly affect the price of renting apartments and the median range is right around $512.

There a number of cities where you can rent a decent apartment for less than $550 dollars.

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