10 Cities Where the Average Rent Is $750 or Less

Photo by baranq / Shutterstock.com

The average monthly rent in the U.S. reached an all-time high of $1,405 in June, the RENTCafe Blog reports, citing the latest numbers from commercial real estate data platform Yardi Matrix.

That’s up 0.9 percent, or $12, from just one month earlier — and up 2.9 percent from one year earlier. Still, a handful of cities have bucked the trend of rising rent.

Where rent has fallen fastest

The cities where the average rent actually decreased over the past year are primarily small southern markets concentrated in Texas and surrounding states. The top five are:

  1. Brownsville, Texas: The average rent for all apartment sizes is down 1.9 percent compared with June 2017
  2. Norman, Oklahoma: Down 1.8 percent
  3. Baton Rouge, Louisiana: Down 1.3 percent
  4. McAllen, Texas: Down 1.2 percent
  5. Lubbock, Texas: Down 1.1 percent

At the other end of this spectrum are the Texas cities of Midland and Odessa — where the average rent has increased more than three times faster than in any other city over the past year. RENTCafe explains:

“The thriving oil-industry hubs of the Permian Basin, Midland and Odessa have been leading the nation with rents growing at a spectacular rate since the last significant drop in oil prices. The latest data shows a 38.8% increase in Midland compared to June 2017, whereas Odessa rents have increased by 36.6% on average in the same period.”

Where rent is now lowest

The top 10 cities where rent is cheapest overall are:

  1. Wichita, Kansas: Average rent for all apartment sizes is $639 as of June
  2. Brownsville, Texas: $675
  3. Tulsa, Oklahoma: $676
  4. Killeen, Texas: $699
  5. Toledo, Ohio: $703
  6. Amarillo, Texas: $730
  7. Independence, Missouri: $733
  8. Dayton, Ohio: $737
  9. Oklahoma City: $741
  10. Fort Wayne, Indiana: $750

At the other end of this spectrum is Manhattan. The average rent in the New York City borough reached $4,116 in June. That came after what RENTCafe describes as “a long period of decreasing rents, followed by a couple of months of stagnation or very sluggish growth” in the Big Apple.

What’s your take on this news? Share your thoughts with us by commenting below or over on our Facebook page.

How to find cheaper car insurance in minutes

Getting a better deal on car insurance doesn't have to be hard. You can have The Zebra, an insurance comparison site compare quotes in just a few minutes and find you the best rates. Consumers save an average of $368 per year, according to the site, so if you're ready to secure your new rate, get started now.

Read Next
10 Common Ways Seniors Get Scammed
10 Common Ways Seniors Get Scammed

Here’s what to watch for to make sure you don’t fall prey to some of the biggest rip-offs targeting seniors.

3 Costly Social Security Mistakes That Women Make
3 Costly Social Security Mistakes That Women Make

Women face unique challenges when planning for retirement and making these mistakes can result in a skimpier retirement.

6 Tech Gadgets That Make Your Daily Life Easier
6 Tech Gadgets That Make Your Daily Life Easier

These products on Amazon will ease your worries and simplify your routine.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started


Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.

Trending Stories