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GOBankingRates
10 States With the Cheapest Rent in 2024
By Nicole Spector,
15 days ago
Rent in the U.S. has been on the rise for a few reasons, including inflation , housing shortages and higher costs of living all around. But there are some states where you can find affordable apartments.
This is how much a rental apartment will cost you, on average, in the 10 cheapest states — ranked from most to least expensive. GOBankingRates did some additional research on Zillow to determine how much space you can get for the average rent in these states.
The cost of living in Alabama is 11% lower than the national average, and housing costs are 36% lower, according to RentCafe. Currently, there’s a listing for a one-bedroom/bathroom rental apartment in Huntsville spanning 777 square feet priced at $1,079 a month. In Madison, you’ll find a 657-square-foot studio for close to $1,100.
In Louisiana, the cost of living is 9% lower than the national average; housing is 18% lower than the national average, according to RentCafe.
In Hammond, you can find a one-bedroom/two-bathroom apartment covering 752 square feet for between $1,095 and $1,230, depending on the unit. Your dollar could stretch further in Sulphur, where there’s a listing for a three-bedroom/three-bathroom, 1,103-square-foot apartment priced as low as $979 a month.
North Dakota is much more affordable than many other states. The cost of living is 5% lower than the national average, and housing is 16% lower, according to RentCafe.
In Fargo, there’s an apartment building with listings for one-bedroom apartments covering 747 square feet priced around $1,100 a month. A two-bedroom measuring 880 square feet is listed at $995.
West Virginia
Average rent: $1,065
According to RentCafe, the cost of living in West Virginia is 9% lower than the national average, and the cost of housing is 20% lower.
What you get depends on which city you reside in, of course. You’ll find that you’ll get a bigger bang for your buck in a city such as Morgantown, where a two-bedroom/one-bathroom apartment spanning 832 square feet goes for $965 a month right now.
Arkansas
Average rent: $1,055
The cost of living in Arkansas is 8% lower than the national average, and housing is 22% lower, according to RentCafe.
For $40 more than the average price, you can rent a one-bedroom, 888-square foot apartment in Maumelle. If you head over to Bryant, you can lock in a two-bedroom/two-bathroom apartment spanning 1,093 square feet for as low as $995 a month.
Nebraska also touts a lower cost of living than the national average — 9% lower — and housing is 21% lower, according to RentCafe.
You could pay a bit more to live in Lincoln, where a one-bedroom, 882-square-foot apartment costs $1,150 a month. In Bellevue, a 730-square-foot, one-bedroom apartment ranges between $967 and $1,163.
Iowa
Average rent: $1,030
The cost of living in Iowa isn’t drastically lower than the national average at 5%, but housing is 17% lower, according to RentCafe.
In Des Moines, you can get a studio apartment for $841 — though it’s only 331 square feet. Less than a hundred bucks more will go a long way in getting you a more spacious pad in another city. For example, in Osceola, you can get a three-bedroom/one-bathroom townhome for $925.
Ohio
Average rent: $1,023
The cost of living in Ohio is 8% lower than the national average, and housing is 22% lower than the national average, according to RentCafe.
In Brooklyn, Ohio, there’s a listing for an 824-square-foot apartment that has two bedrooms and 1.5 bathrooms, priced at $904 a month. In Columbus, a studio apartment runs $929.
In Oklahoma, the cost of living is 12% lower than the national average, and housing is 28% lower, according to RentCafe.
A one-bedroom apartment in Broken Arrow spanning 681 square feet is listed at $1,005 a month. In Enid, you can rent a 950-square-foot, two-bedroom townhome starting at $895.
Missouri
Average rent: $1,000
Missouri is the cheapest state for renters in 2024. In the city of Joplin, there are apartments listed for $1,000 and up that comprise one bedroom and span 614 square feet. In Liberty, there are one-bedroom units available for as low as $963.
Editor’s note: All rent listings are accurate as of May 10, 2024.
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