These Cities Have the Most Affordable Rent in the | Global Market News
As the price of rent has elevated by more than 50% over the final decade, some well-liked cities like Miami have gotten much less and fewer inexpensive.To discover the most inexpensive cities for renting in the U.S., financial website WalletHub in contrast the median annual gross rent to the median family income in 182 cities, rating them from most to least inexpensive.Related: Here’s How Much a Family of 4 Needs to Live ‘Comfortably’ in Every U.S. State, According to a New Report
The most inexpensive metropolis was Bismarck, North Dakota, the place the median annual gross rent is round 15.3% of the median annual income. The average wage in Bismarck is $69,989 per 12 months, in line with ZipRecruiter. The average rent, in the meantime, is $1,023 monthly, per Apartments.com.The second most inexpensive metropolis was Sioux Falls, South Dakota. The imply annual gross rent there prices round 16% of the median income. Cheyenne, Wyoming, got here in at a close No. 3 — residents spend 16.1% of their earnings on rent in the metropolis.
Cedar Rapids, Iowa, and Fargo, North Dakota, rounded out the prime 5 most inexpensive.The backside of the checklist featured Glendale, California (No. 178), adopted by Detroit, Michigan; New Haven, Connecticut; Newark, New Jersey; and at last, in the final spot (No. 182), Miami, Florida, the place residents spend 33.48% of their income on rent.In Miami, the average wage, in line with ZipRecruiter, is $55,183. The average rent is $2,950, per Zillow.”In the most affordable cities for renters, the median cost of rent is as low as 15% of the median income, compared to more than 33% in the most expensive cities,” mentioned WalletHub Analyst Chip Lupo. “This gives people in the least expensive cities a clear financial advantage; the money they save on rent could go toward their emergency fund or savings for future home ownership.”
View the full checklist of all 182 cities, right here. Related: Here Are the Best and Worst States for Retirement in 2025, According to a New Report
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