In Which States Are Apartment Rental Prices the Lowest?

For many renters, the cost of housing plays a critical role in deciding where to live. While major metropolitan areas like New York City or San Francisco are notorious for their high rents, several states offer more affordable options. Here's an overview of states with the lowest apartment rental prices, based on average costs and overall affordability.

1. Arkansas

• Average Rent: Approximately $750/month for a one-bedroom apartment.
• Why It’s Affordable: Arkansas boasts a low cost of living overall, with inexpensive utilities and housing.
• Key Cities to Consider: Little Rock, Fayetteville, and Hot Springs.
• Bonus: Arkansas offers a mix of urban amenities and natural beauty, making it a great choice for budget-conscious renters.

2. West Virginia

• Average Rent: Around $725/month for a one-bedroom apartment.
• Why It’s Affordable: West Virginia’s rural character and slower-paced economy contribute to low housing costs.
• Key Cities to Consider: Charleston, Huntington, and Morgantown.
• Bonus: Affordable rents are paired with charming small-town vibes and a rich Appalachian culture.

3. Mississippi

• Average Rent: Approximately $800/month for a one-bedroom apartment.
• Why It’s Affordable: Mississippi has some of the lowest property values and housing costs in the U.S.
• Key Cities to Consider: Jackson, Gulfport, and Hattiesburg.
• Bonus: The state offers mild winters and a lower cost of living overall.

4. Kentucky

• Average Rent: Roughly $850/month for a one-bedroom apartment.
• Why It’s Affordable: Kentucky’s housing market remains stable and inexpensive compared to the national average.
• Key Cities to Consider: Lexington, Louisville, and Bowling Green.
• Bonus: Renters can enjoy vibrant cities paired with scenic countryside.

5. Alabama

• Average Rent: Around $850/month for a one-bedroom apartment.
• Why It’s Affordable: Alabama’s housing costs are kept low by a combination of low property taxes and high availability.
• Key Cities to Consider: Birmingham, Montgomery, and Mobile.
• Bonus: The state is known for its Southern hospitality and relatively mild climate.

6. Oklahoma

• Average Rent: Approximately $830/month for a one-bedroom apartment.
• Why It’s Affordable: A growing economy combined with an abundance of housing keeps rents low.
• Key Cities to Consider: Oklahoma City, Tulsa, and Norman.
• Bonus: Oklahoma offers a mix of urban development and a low cost of living.

7. Kansas

• Average Rent: About $840/month for a one-bedroom apartment.
• Why It’s Affordable: Kansas’ economy supports affordable living, with low housing demand compared to supply.
• Key Cities to Consider: Wichita, Topeka, and Lawrence.
• Bonus: A quiet and family-friendly state with affordable utilities and amenities.

8. Missouri

• Average Rent: Around $850/month for a one-bedroom apartment.
• Why It’s Affordable: Missouri combines a balanced economy with affordable housing options.
• Key Cities to Consider: Kansas City, St. Louis, and Springfield.
• Bonus: Renters can enjoy both bustling cities and peaceful rural areas.

9. Indiana

• Average Rent: Approximately $860/month for a one-bedroom apartment.
• Why It’s Affordable: Indiana’s cost of living is significantly lower than the national average.
• Key Cities to Consider: Indianapolis, Fort Wayne, and Bloomington.
• Bonus: The state offers a mix of suburban and urban living at an affordable price.

10. Iowa

• Average Rent: Roughly $870/month for a one-bedroom apartment.
• Why It’s Affordable: Iowa’s steady housing market ensures rents remain low.
• Key Cities to Consider: Des Moines, Cedar Rapids, and Davenport.
• Bonus: Affordable rents are complemented by a strong job market and a high quality of life.

Conclusion

If you’re looking for affordable rent, states in the Midwest and South often provide the best deals. While factors like job opportunities, amenities, and lifestyle preferences will influence your choice, these states consistently rank among the most budget-friendly for renters. Research the cities within these states to find the perfect balance between cost and quality of living.