Looking to save on rent without sacrificing your quality of life? WalletHub’s recent report reveals cities where rent takes up the smallest share of your income, freeing up more cash for savings, retirement, or just enjoying life.
These 10 cities, spread mostly across the Midwest and Mountain West, offer surprisingly affordable living, even as prices elsewhere surge.
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1. Sioux Falls, South Dakota
Rent here averages $1,107, while median income tops $74,000. That low rent-to-income ratio helps keep your budget balanced.
The unemployment rate is just 2.1%, and no state income tax makes it even more appealing.
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2. Overland Park, Kansas
Part of the Kansas City metro, Overland Park offers strong schools, low crime, and high median incomes.
Rent takes up less than 20% of income here, giving residents financial breathing room.
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3. Bismarck, North Dakota
Rent averages just over $1,000 and median income nears $89,000. That’s a winning combo for renters.
With low unemployment and public-sector jobs, Bismarck offers economic stability and low housing costs.
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4. Charleston, West Virginia
Rent is far below the national average in Charleston, and overall living costs are low.
This quiet capital city attracts both retirees and remote workers with its affordability.
Pro Tip: If you’re retired or nearing retirement, consider using a reverse mortgage to turn home equity into tax-free cash, without selling your home.
5. Cedar Rapids, Iowa
A hub for food production and manufacturing, Cedar Rapids offers reliable jobs and rent under $1,100.
It’s a no-frills city where your dollar stretches and your savings can grow.
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6. Cheyenne, Wyoming
Cheyenne has a small-town feel with urban perks. Rent is affordable and income levels are solid.
It’s ideal for renters who want affordability, access to nature, and space to save.
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7. Fargo, North Dakota
Fargo offers more than just affordable rent, it has a growing tech scene and cultural momentum.
The economy is strong, incomes are competitive, and housing stays budget-friendly.
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8. Juneau, Alaska
Alaska may be remote, but Juneau renters enjoy solid wages and no state income tax.
Rent is reasonable compared to local incomes, especially with added state subsidies.
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9. Casper, Wyoming
Casper’s rental costs are modest, and outdoor recreation is a major perk for residents.
The energy and health care industries keep incomes competitive in this scenic spot.
Pro Tip: Lower fixed expenses mean more room to eliminate debt. National Debt Relief offers free support for those carrying over $20,000 in unsecured debt.
10. Anchorage, Alaska
Rent is a bit higher here, but strong incomes and state assistance help offset the difference.
Anchorage’s access to wilderness and stable job sectors make it a solid value.
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Where rent relief lives
Affordable rent isn’t just a dream, it’s real, in cities like these. You can stretch your paycheck without sacrificing your lifestyle.
Relocating to one of these cities might just give you the financial reset you’ve been hoping for.
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