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15 Tips for Buying Your First Rental Property

Thinking about purchasing an investment property? Real estate has produced many of the world's wealthiest people, so there are plenty of reasons to think that it is a sound investment. Experts agree, however, that as with any investment, it's better to be well-versed before diving in with hundreds of thousands of dollars. Here are the things you should consider and investigate.

Key Takeaways

  • Purchasing an investment property to earn rental income can be risky. 
  • Buyers will usually need to secure at least a 20% downpayment. 
  • Being a landlord requires a broad array of skills, which could be as diverse as understanding basic tenant law to being able to fix a leaky faucet. 
  • Experts recommend having a financial cushion, in case you don't rent out the property, or if the rental income doesn't cover the mortgage.

1. Are You Cut out to Be a Landlord?

Do you know your way around a toolbox? How are you at repairing drywall or unclogging a toilet? Sure, you could call somebody to do it for you or you could hire a property manager, but that will eat into your profits. Property owners who have one or two homes often do their own repairs to save money.

Of course, that changes as you add more properties to your portfolio. Lawrence Pereira, president of King Harbor Wealth Management in Redondo Beach, Calif., lives on the West Coast but owns properties on the East Coast. As someone who says he's not at all handy, he makes it work. How? "I put together a solid team of cleaners, handymen, and contractors," says Pereira.

This isn't advisable for new investors, but as you get the hang of real estate investing you don't need to remain local.

If you're not the handy type and don't have lots of spare cash, being a landlord may not be right for you.

2. Pay Down Personal Debt

Savvy investors might carry debt as part of their portfolio investment strategy, but the average person should avoid it. If you have student loans, unpaid medical bills, or children who will attend college soon, then purchasing a rental property may not be the right move.

Pereira agrees that being cautious is key, saying, "It's not necessary to pay down debt if your return from your real estate is greater than the cost of debt. That is the calculation you need to make." Pereira suggests having a cash cushion. "Don't put yourself in a position where you lack the cash to make payments on your debt. Always have a margin of safety."

3. Secure a Downpayment

Investment properties generally require a larger downpayment than do owner-occupied properties; they have more stringent approval requirements. The 3% you may have put down on the home where you currently live isn't going to work for an investment property. You will need at least a 20% downpayment, given that mortgage insurance isn't available on rental properties. You may be able to obtain the downpayment through bank financing, such as a personal loan.

4. Find the Right Location

The last thing you want is to be stuck with a rental property in an area that is declining rather than stable or picking up steam. A city or locale where the population is growing and a revitalization plan is underway represents a potential investment opportunity.

When choosing a profitable rental property, look for a location with low property taxes, a decent school district, and plenty of amenities, such as parks, malls, restaurants, and movie theaters. In addition, a neighborhood with low crime rates, access to public transportation, and a growing job market may mean a larger pool of potential renters.

5. Should You Buy or Finance?

Is it better to buy with cash or to finance your investment property? That depends on your investing goals. Paying cash can help generate positive monthly cash flow. Take a rental property that costs $, to buy. With rental income, taxes, depreciation, and income tax, the cash buyer could see $9, in annual earnings, or a % annual return on the $, investment..

On the other hand, financing can give you a greater return. For an investor who puts down 20% on a house, with compounding at 4% on the mortgage, after taking out operating expenses and additional interest, the earnings add up to roughly $5, per year. Cash flow is lower for the investor, but a % annual return on the $20, investment is much higher than the % earned by the cash buyer.

6. Beware of High Interest Rates

The cost of borrowing money might be relatively cheap in , but the interest rate on an investment property is generally higher than a traditional mortgage interest rate. If you do decide to finance your purchase, you need a low mortgage payment that won't eat into your monthly profits too much.

7. Calculate Your Margins

Wall Street firms that buy distressed properties aim for returns of 5% to 7% because, among other expenses, they need to pay staff. Individuals should set a goal of a 10% return. Estimate maintenance costs at 1% of the property value annually. Other costs include homeowners' insurance, possible homeowners' association fees, property taxes, monthly expenses such as pest control, and landscaping, along with regular maintenance expenses for repairs.

8. Invest in Landlord Insurance

Protect your new investment: In addition to homeowners insurance, consider purchasing landlord insurance. This type of insurance generally covers property damage, lost rental income, and liability protection —in case a tenant or a visitor suffers injury as a result of property maintenance issues.

To lower your costs, investigate whether an insurance provider will let you bundle landlord insurance with a homeowner's insurance policy.

9. Factor in Unexpected Costs

It's not just maintenance and upkeep costs that will eat into your rental income. There's always the potential for an emergency to crop up—roof damage from a hurricane, for instance, or burst pipes that destroy a kitchen floor. Plan to set aside 20% to 30% of your rental income for these types of costs so you have a fund to pay for timely repairs.

Avoid a Fixer-Upper

It's tempting to look for the house that you can get at a bargain and flip into a rental property. However, if this is your first property, that's probably a bad idea. Unless you have a contractor who does quality work on the cheap—or you're skilled at large-scale home improvements—you likely would pay too much to renovate. Instead, look for a home that is priced below the market and needs only minor repairs.

Calculate Operating Expenses

Operating expenses on your new property will be between 35% and 80% of your gross operating income. If you charge $1, for rent and your expenses come in at $ per month, you're at 40% for operating expenses. For an even easier calculation, use the 50% rule. If the rent you charge is $2, per month, expect to pay $1, in total expenses.

Determine Your Return

For every dollar that you invest, what is your return on that dollar? Stocks may offer a % cash-on-cash return, while bonds may pay %. A 6% return in your first year as a landlord is considered healthy, especially because that number should rise over time.

Buy a Low-Cost Home

The more expensive the home, the greater your ongoing expenses will be. Some experts recommend starting with a $, home in an up-and-coming neighborhood. In addition, experts advise never to buy the nicest house for sale on the block, ditto for the worst house on the block.

Know Your Legal Obligations

Rental owners need to be familiar with the landlord-tenant laws in their state and locale. It's important to understand, for example, your tenants' rights and your obligations regarding security deposits, lease requirements, eviction rules, fair housing, and more in order to avoid legal hassles.

Weigh the Risks vs. the Rewards

In every financial decision, you must determine if the payoff is worth the potential risks involved. Does investing in real estate still make sense for you?

Rewards
  • Because your income is passive, notwithstanding the initial investment and upkeep costs, you can earn money while putting most of your time and energy into your regular job.

  • If real estate values increase, your investment also will rise in value.

  • You can put real estate into a self-directed IRA (SDIRA).

  • Rental income is not included as part of your income that's subject to Social Security tax.

  • The interest you pay on an investment property loan is tax-deductible.

  • Short of another crisis, real estate values are generally more stable than the stock market.

  • Unlike investing in stocks or other financial products that you cannot see or touch, real estate is a tangible physical asset.

Risks
  • Although rental income is passive, tenants can be a pain to deal with unless you use a property management company.

  • If your adjusted gross income (AGI) is more than $, (single) or $, (married filing jointly), then you may be subject to a % surtax on net investment income, including rental income.

  • Rental income may not cover your total mortgage payment.

  • Unlike stocks, you can't instantly sell real estate if the markets go sour or you need cash.

  • Entry and exit costs can be high.

  • If you don’t have a tenant, you still need to pay all the expenses.

A Final Word

Be realistic in your expectations. As with any investment, rental property isn't going to produce a large monthly paycheck right away, and picking the wrong property could be a catastrophic mistake.

For your first rental property, consider working with an experienced partner. Or, rent out your own home for a period to test your proclivity for being a landlord.

Sours: https://www.investopedia.com/articles/investing//buying-your-first-investment-property-toptips.asp

24 Most Affordable Cities to Live in for Renters &#; Find Cheap Housing

How much does your apartment cost? Your answer is likely to vary — a lot — depending on where you live.

According to RentJungle, the average San Francisco apartment rented for $3, per month in August If you follow the old rule of spending no more than 30% of your income on housing, you&#;d need to earn at least $, per year to afford the average San Francisco apartment. That&#;s a tall order, even with the Bay Area&#;s relatively high incomes.

High rents disproportionately impact people on the lower end of the income scale. In a report, the Joint Center for Housing Studies of Harvard University found that nearly half of all renters are &#;cost-burdened&#; — basically, they&#;re forced to spend too much of their income on housing. In most metropolitan markets, especially expensive regions such as Southern California and South Florida, the vast majority of individual renters earning less than $15, per year are cost-burdened.

But these legitimate cost pressures aren&#;t everywhere. In many markets, apartments remain affordable, even for underemployed and part-time workers with tight budgets, limited or nonexistent savings, and little to no discretionary income.

If you live in an expensive coastal city like New York, Boston, or Seattle, these low-rent meccas are nowhere in sight. But they&#;re out there. The question is: Where?

Most Affordable U.S. Cities for Renters

Most affordable U.S. cities are far from the coasts. Typically, they are located in the Midwest, Mountain West, and South. Land in these areas tends to be cheaper, with more permissive zoning rules reducing the cost of building new housing and renovating or rehabilitating old housing.

To build this list, I crunched the numbers using exhaustive datasets from real estate intelligence companies like RentCafe and Yardi Matrix, then filtered the results to find the most affordable rental markets in the United States. As a benchmark, I used RentCafe&#;s data on the average apartment size at 30% of area median income — that is, the biggest apartment, on average, a median-income renter can expect to afford in each city without becoming cost-burdened. For reference, the median U.S. rent accounts for % of the average American household income, according to data from The Zebra.

Remember, these figures are averages. Some renters get more than the average amount of space without tipping over the 30% threshold. Others aren&#;t so lucky.

Bear in mind, also, that complex and volatile factors drive housing prices: local land use policies, economic conditions, housing quality, and demand, to name a few. In some seemingly affordable markets, especially in the industrial Midwest, a self-reinforcing cycle of economic stagnation and population outflows dampens housing demand. The fact that rents are low in these markets, where good-paying jobs tend to be scarce, doesn&#;t mean they&#;re necessarily desirable for working-age people — and especially not for younger folks craving cosmopolitan surroundings.

Still, many cities on this list have strong economies, diverse employers, great lifestyle amenities, and vibrant cultures. All are sizable, and many belong to relatively low-cost major metropolitan areas. If you crave big-city perks without the big-city cost of living, you know where to look.

One final note: Unless otherwise noted, unemployment figures are sourced from the Bureau of Labor Statistics&#; Economy at a Glance application, using figures for each city&#;s metropolitan area except where noted. Population figures are estimates from the U.S. Census Bureau.

Pro tip: If you&#;re currently renting your home and don&#;t have renters insurance, make sure you get signed up today. You can get started with Lemonade for as little as $5 per month. You can also check out our list of the best renters insurance companies.

1. Gilbert, Arizona

Gilbert Arizona Church Night Time Latter Day Saints
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: 1, square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $1, per month
  • Price Per Square Foot at Average Rent: $ per month

Sprawling across the southeastern quadrant of the Valley of the Sun, as the Phoenix metropolitan area is known locally, Gilbert is a few ticks more affordable for renters than its parent city. If you&#;re relocating to Phoenix for reasons of career or climate, you can&#;t do better than Gilbert — although it&#;ll certainly help if you can find work in Gilbert or neighboring communities like Chandler, Tempe, or Scottsdale rather than drive 30 minutes each way (on a good day) to downtown Phoenix.

That shouldn&#;t be a problem. Tempe is home to Arizona State University, Scottsdale is a hub for the finance industry, and Chandler has multiple semiconductor firms within its borders. (Hydrophobic computer chips love the dry desert air.) Gilbert itself has a couple of big hospitals and a massive public school district. Other major employers in the Valley include the global headquarters or major regional offices for mining giant Freeport McMoran, pet retailer PetSmart, Honeywell&#;s aerospace division, and U-Haul.

If you&#;re new to the Valley, by no means should you limit your housing search to Gilbert. Despite rampant population growth, this remains a highly affordable region by national standards. In the Phoenix area, Scottsdale, Glendale, Mesa, Chandler, and Phoenix itself are all among the most affordable cities for U.S. renters.


2. Plano, Texas

Plano Texas Hot Air Balloon Festival
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: 1, square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $1, per month
  • Price Per Square Foot at Average Rent: $ per month

Plano is a rapidly growing suburban city about 20 miles northeast of Dallas. Routinely ranked among the safest and most family-friendly cities in the United States, it&#;s also among the most affordable for budget-conscious renters.

This is true despite Plano&#;s legendary attractiveness to major corporations. The city boasts more corporate headquarters than just about any other community of comparable size, in Texas or anywhere else. Among the household-name corporations calling Plano home are packaged foods behemoth Frito-Lay, Capital One Finance Corporation (which has a major branch office here), Toyota Motors North America, and Bank of America Home Loans. Plano has two major medical facilities within its borders, as well.

Like the Phoenix area, the Dallas-Fort Worth Metroplex is a highly affordable place for renters — and homebuyers, but that&#;s another story. Both Garland to Plano&#;s immediate southeast and Irving just northwest of Dallas, about 25 miles from central Plano, rank among the cheapest places to rent without spending more than 30% of household income.


3. Virginia Beach, Virginia

Virginia Beach Sunrise 15th Street Pier
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: 1, square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $1, per month
  • Price Per Square Foot at Average Rent: $ per month

Virginia Beach is the largest city in Hampton Roads, a waterlogged but picturesque metropolitan area in Virginia&#;s southeastern corner. With the world&#;s longest uninterrupted pleasure beach, according to the Guinness Book of World Records, and a portion of the country&#;s largest naval complex, Virginia Beach lives something of a double life. Sun, sand, and serious military hardware manage to coexist here, notwithstanding the occasional hurricane.

Virginia Beach&#;s vast land area probably contributes to its overall affordability for renters. Away from the densely built beach, the city is a decentralized collection of low-density residential neighborhoods, low-rise commercial areas, parking lots, and green space. There&#;s plenty of room for Virginia Beach to grow. Thanks to its unmatched lifestyle amenities and defense-oriented economy, there’s little reason to think it won&#;t.

Hampton Roads isn&#;t uniformly affordable for renters; the region&#;s highly mobile population makes it easy enough for landlords to jack up rents when tenants change. But Virginia Beach isn&#;t the only city that makes the affordability cut. Nearby Chesapeake, vast swathes of which remain undeveloped, is nearly as budget-friendly as its neighbor.


4. North Las Vegas, Nevada

Las Vegas North View Mountain Range Suburbs
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: 1, square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $1, per month
  • Price Per Square Foot at Average Rent: $ per month

North Las Vegas is another desert city with beautiful mountain views and a sprawling metro area. Located north of Las Vegas proper, it&#;s heavily reliant on the Las Vegas Valley&#;s famous gaming and entertainment industries, with many locals working for casinos, resorts, entertainment companies, and the various support businesses. However, the area is gaining regional recognition in the technology sector thanks to the availability of cheap land.

It&#;s worth noting that North Las Vegas was devastated by the housing collapse of the late s, with the city&#;s comparatively low rents partially an artifact of that crisis. The city was hit hard again by the COVID pandemic, which ground the region&#;s tourism industry to a halt during the second quarter of North Las Vegas has bounced back before and will again, but it&#;ll be a long road.

North Las Vegas shares affordability honors with a few other nearby cities:

  • Henderson, on the southwestern fringes of Las Vegas&#; urban sprawl
  • Paradise, a centrally located community that&#;s home to much of the Las Vegas Strip
  • Las Vegas proper, covered in greater detail below

5. Oklahoma City, Oklahoma

Oklahoma City Usa Cityscape Bricktown Dusk
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

The capital of Oklahoma, Oklahoma City sprawls across three counties, making it the eighth-largest U.S. city by land area. The city&#;s housing market benefits from the seemingly inexhaustible supply of cheap, flat land surrounding the urban core. A strong economy has pushed developers to continue building new projects.

Although its economy is still reliant on energy and agriculture, Oklahoma City has largely freed itself from the destructive boom-and-bust cycles — fomented by volatile oil, gas, and cattle prices — that hampered its growth throughout much of the 20th century. Nevertheless, Oklahoma City is one of the few major cities situated atop an active oil field. Many residents earn income from oil and gas leases. The city is also home to Stockyards City, the world&#;s largest livestock market and a bona fide Old West tourist attraction.

Aside from livestock and energy, Oklahoma City&#;s economy relies on logistics, aerospace, finance, health care, and state government. The area&#;s largest employers include the State of Oklahoma, Mike Monroney Aeronautical Center, Integris Health, Hobby Lobby, University of Oklahoma Health Sciences Center, and Chesapeake Energy Corporation. Tinker Air Force Base, located beyond the city limits, is a major economic anchor for the region as well.


6. Wichita, Kansas

Wichita Kansas Downtown Statue Water
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Not far from the geographic center of the United States, Kansas&#; largest city is amazingly affordable. Named for the Wichita people who lived in the area for centuries before the arrival of European settlers, modern Wichita is a diversified hub of industry, logistics, and services.

Although surrounded by farmlands, Wichita itself is heavily industrialized, historically one of the United States&#; largest aircraft manufacturing hubs. Today, more than 50 aircraft companies and suppliers operate facilities in Wichita and surrounding communities.

Other major employers include Cargill Meat Solutions, energy and agribusiness conglomerate Koch Industries, outdoor recreation supplier Coleman Company, and roller coaster manufacturer Chance Morgan. Wichita State University and Wesley Medical Center employ thousands, adding much-needed diversity to the local economy.

Wichita&#;s signature annual event is the Wichita Riverfest, which attracts nearly , visitors each year.


7. Tulsa, Oklahoma

Tulsa Oklahoma Downtown Skyline
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Despite its reputation as &#;the Buckle of the Bible Belt,&#; Tulsa is a surprisingly cosmopolitan city located in northeastern Oklahoma, at the edge of the foothills of the Ozark Mountains. Once an oil boomtown, Tulsa suffered mightily as the center of American energy production shifted west. Following a long period of economic stagnation in the late 20th century, the city has rebounded and diversified.

As the effects of climate change grow more pronounced and the world shifts away from carbon-intensive sources of energy, Tulsa is likely to further reduce its dependence on legacy oil and gas producers like Williams Companies, Syntroleum, and ONEOK. These days, Tulsans are more likely to work in aerospace or in the financial sector; American Airlines&#; local maintenance facility is the largest aircraft maintenance hub in the world, and BOK Financial Corporation, a major regional bank, is headquartered here.

Tulsa&#;s signature event, the Tulsa State Fair, attracts nearly 1 million visitors during a day period each fall. The city is also popular with foodies thanks to a distinctive style of barbecue that&#;s difficult to find outside northeastern Oklahoma. The city’s municipal park system, which features more than parks and 6,plus acres of green space, is nationally recognized.


8. Omaha, Nebraska

Omaha Nebraska Downtown Holiday Lights
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Located about an hour northeast of Lincoln, the state capital — and another affordable place for renters — Omaha is Nebraska&#;s largest city. The city began life as a cow town thanks to the massive Omaha Stockyards complex and nearby meatpacking plants, but it&#;s far more than that today. Modern Omaha is an insurance and railroad hub, a key center of finance and engineering, and the home of famed value investor Warren Buffett and his venerable conglomerate Berkshire Hathaway.

Other major Omaha employers include construction company Kiewit Corporation, Valmont Industries, Green Plains Renewable Energy, Mutual of Omaha, and Union Pacific Corporation. The city is rumored to be the birthplace of the Reuben sandwich and the ski lift — somewhat surprising given the surrounding area&#;s gentle topography. Omaha&#;s best-known annual event is the College World Series, which attracts tens of thousands of baseball fans every year.


9. Arlington, Virginia

Arlington Virginia Landscape Water Reflection
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $2, per month
  • Price Per Square Foot at Average Rent: $ per month

Arlington is a tiny county sandwiched between the Potomac River, the independent city of Alexandria, and the much larger county of Fairfax. Arlington is largely urban in character, with plenty of walkable neighborhoods and a fantastic public transportation system.

For outsiders — and plenty of locals too — Arlington&#;s relative affordability for renters is something of a mystery. It&#;s smack in the middle of the Washington, D.C., metropolitan area; the Washington Monument is visible from high points throughout the county. Local home values are steep, with single-family homes priced at double or triple the national median. And the region&#;s booming economy is about to kick into an even higher gear as Amazon opens a major East Coast hub inside the county limits.

The resulting influx of well-to-do techies may shatter Arlington&#;s affordable dream. For now, who&#;s to argue with an unabashed good thing? If you&#;re looking for a hip foothold in the D.C. area without D.C.-level rents, Arlington is it.


Raleigh, North Carolina

Raleigh North Carolina Usa Skyline
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $1, per month
  • Price Per Square Foot at Average Rent: $ per month

Raleigh is North Carolina&#;s state capital and second-largest city. As one of the fastest-growing cities in a fast-growing state, it&#;s emblematic of the economic vitality that&#;s drawn so many outsiders to this part of the country over the past few decades — yet it remains one of the best bargains for renters east of the Mississippi.

In part, Raleigh owes its appeal to a regional cluster of top-tier research universities. Together with the neighboring communities of Durham, Chapel Hill, and Cary, Raleigh anchors the famed Research Triangle, home to the University of North Carolina at Chapel Hill, Duke University, and North Carolina State University. As one of the country&#;s top life sciences hubs, the Triangle draws from a global pool of scientific talent.

Numerically, Raleigh&#;s job market is driven by state government, education, and health care. Top private employers include Advance Auto Parts, First Citizens BancShares, Red Hat, and Waste Industries.


Columbus, Ohio

Columbus Ohio Skyline On River
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Located in the geographical center of Ohio, Columbus is its state&#;s capital city and home to its flagship public university. (That&#;s The Ohio State University, for readers who couldn&#;t care less about college sports or Midwestern land grant universities.) Although Columbus is the biggest city in Ohio by population, the surrounding metropolitan area is only the state&#;s third largest.

Columbus has changed a lot over the years. Its first noteworthy industry was horse-drawn buggy manufacturing. Following the demise of the buggy business, the city quickly developed a more diversified manufacturing base, later expanding into professional services. Today, the city&#;s largest employers include Ohio State University, the state government of Ohio, Nationwide Mutual Insurance Company, Big Lots, Cardinal Health, Wendy&#;s, and Huntington Bancshares.

It&#;s worth noting that Ohio State University supports a vibrant startup economy — somewhat unusual in the industrial Midwest — and a diverse cultural scene to match. That means Columbus might just be Ohio&#;s best place to start a new business and hit the town after a long day at work, without paying coastal prices for drinks, food, or housing.


Fort Wayne, Indiana

Fort Wayne Dr Martin Luther King Jr Bridge Indiana
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Once little more than a trading post on the American frontier, the arrival of the railroad transformed Fort Wayne into a thriving manufacturing hub. By the early 20th century, it was one of the most important manufacturing centers between Pittsburgh and Chicago, with companies such as General Electric and International Harvester employing thousands of residents.

Sadly, Fort Wayne&#;s manufacturing economy collapsed in the s and &#;80s, hollowing out the city&#;s middle class and dramatically lowering local wages, living standards, and morale. The city&#;s trajectory wasn&#;t unique, but it fell farther and faster than many other Midwestern manufacturing hubs. It&#;s taken decades for the local economy to dig out.

Lately, Fort Wayne has focused — with some success — on growing its logistics, health care, professional services, and defense exposures. That&#;s helped to put a floor under local housing prices while boosting median incomes relative to prevailing rents, which remain low due to modest demand and ample housing supply.

Major Fort Wayne-area employers include hardware brand Do It Best, North American Van Lines, Steel Dynamics, and Frontier Communications. The city&#;s signature annual event is the Johnny Appleseed Festival, which attracts some , visitors to the city park where the real-life John Chapman purportedly lies in repose.


Bakersfield, California

Bakersfield California Vista Preserve
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Located near the southern terminus of California&#;s breadbasket, the Central Valley, Bakersfield is just over miles north of central Los Angeles — less than two hours by car on a good day. Culturally and economically, Bakersfield couldn&#;t be more different from its bigger neighbor.

Unlike L.A., whose superficial glamour belies an endlessly diverse economy, Bakersfield is dominated by two industries: agriculture and energy. Indeed, Bakersfield — not Midland, Texas, or Williston, North Dakota — is the seat of the country&#;s most productive oil-producing county. The surrounding croplands are among the nation&#;s most fertile thanks to temperate winters, unquenchable sunshine, and vast groundwater reserves that remain adequate for now — although their eventual drawdown is virtually certain to provoke an environmental catastrophe like the one already in progress in far southern California&#;s Imperial Valley. Thanks to its sunny climate and persistent winds, Bakersfield is emerging as a major renewable energy hub, promising new sources of employment as the region&#;s fossil fuel industry declines.

Bakersfield is no paradise, though. Yes, Sequoia National Forest and the rest of the southern Sierra Nevada mountains lie within easy driving distance, providing welcome respite from the summer heat. But, come summer, the valley itself is dry, dusty, and forbidding. It&#;s also home to the curious fungal pathogen responsible for valley fever, a serious and potentially fatal illness that disproportionately affects agricultural workers and is likely to become more common as the Central Valley&#;s climate warms and dries.

Still, if you&#;re looking for an affordable foothold in sunny southern California and easy access to the high Sierras, Bakersfield is your best bet.


Greensboro, North Carolina

Greensboro North Carolina Le Bauer Park Night Downtown
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Greensboro, the largest municipality in the Piedmont Triad region of North Carolina, has lately seen more than its share of economic disruption. Greensboro was once a major seat of power for the tobacco industry; employment in that sector has declined precipitously since the late 20th century. Textile manufacturing was once a big business here too, but competition from cheaper markets such as Mexico and China has slowed production.

Still, Greensboro is doing quite well. The city is a regional hub for finance, logistics, health care, manufacturing, and high-tech research. Major employers in the area include Honda Aircraft, Volvo Trucks, Mack Trucks, Lincoln Financial Group, the University of North Carolina at Greensboro, FedEx, and the United States Postal Service.

Winston-Salem, another Piedmont Triad city, deserves an honorable mention here as well. Greensboro and Winston, as it&#;s known locally, are well within commuting distance of one another, and the latter is only marginally less affordable for budget-conscious renters.


Corpus Christi, Texas

Corpus Christi Texas Downtown Skyline Water Front
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Hundreds of miles from the renter-friendly suburbs of the Dallas-Fort Worth Metroplex, Corpus Christi offers a breezier, slower-paced take on affordability. Among the United States&#; most populous beach towns, only Virginia Beach can match Corpus Christi&#;s affordability. Miami this is not, although it&#;s nearly as warm — virtually frost-free, in fact, thanks to persistent warm breezes off the Gulf of Mexico.

Despite ample supplies of sun and sand, Corpus Christi is more than a year-round tourist destination. With the largest helicopter repair facility in the world, among other specialized facilities, Naval Air Station Corpus Christi is a major local employer. The adjacent civilian port is the country&#;s fifth-largest by volume, and the surrounding waters harbor extensive oil and gas reserves.

Corpus Christi&#;s Gulfside location is a double-edged sword. To say Corpus is hurricane-prone would be an understatement; the city&#;s stormwater management system can barely keep up with run-of-the-mill thunderstorms. Rising sea levels exacerbate the threat, as does beach and channel erosion caused by human activity. The good news for renters: Carrying flood insurance and cleaning up after storms are problems for your landlord.


Fremont, California

Fremont California Coyote Hills Regional National Park
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $2, per month
  • Price Per Square Foot at Average Rent: $ per month

A renter-friendly city in the San Francisco Bay Area? Really?

You&#;re not dreaming. Fremont isn&#;t exactly San Francisco; located in the southern East Bay or northern South Bay, depending on your preference, it&#;s much closer in context and character to San Jose. But it&#;s near enough to the heart of Silicon Valley to serve renters who can&#;t afford or justify impossibly high housing prices in exclusive communities like Palo Alto and Mountain View. Prevailing rents here are 30% to 40% lower than in communities right across the Bay — still pricey by national standards, but a steal compared with what&#;s next door.

For those not interested in testing the Bay Area&#;s reputation for long commutes, Fremont has a solid in-town employment base. Tesla, the electric car and battery manufacturer, employs thousands at a massive facility here; other major employers include hard disk manufacturer Western Digital, medtech firm Boston Scientific, data storage firm Seagate, and health giant Kaiser Permanente.


Jacksonville, Florida

Jacksonville Florida Usa Downtown City Skyline
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $1, per month
  • Price Per Square Foot at Average Rent: $ per month

Covering square miles of land, Jacksonville is the largest U.S. city by land area and one of the dozen or so largest by population. Located in northeastern Florida&#;s First Coast region, Jacksonville has been inhabited by native peoples for thousands of years. It also housed some of the first permanent European settlements in the continental United States, established years before the British arrived in Massachusetts and Virginia.

Following the Civil War, Jacksonville has been an important hub for the U.S. Navy. And, since it&#;s one of the most affordable places in Florida, it has gained favor as a budget-friendly vacation town and retirement destination.

Jacksonville isn&#;t entirely about fun in the sun though. Lots of people work here, especially in the finance, logistics, and retail sectors. Major companies include CSX Corporation, Fidelity National Financial, Southeastern Grocers, Swisher International, RailAmerica, and the Port of Jacksonville. As in Virginia Beach, these workers have plenty of room to spread out thanks to Jacksonville&#;s seemingly endless hinterland, and new multifamily housing starts easily keep pace with the region&#;s rapidly growing population.


Las Vegas, Nevada

Las Vegas Nevada Usa Night Hotels Water Fountain Scaled
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $1, per month
  • Price Per Square Foot at Average Rent: $ per month

Although it&#;s adjacent to North Las Vegas, Las Vegas earns a separate entry on this list by virtue of its central place in the public imagination.

Millions of people visit the Las Vegas Strip every year, it&#;s true. Many never venture beyond it. Because most of the Strip is actually located in the neighboring unincorporated towns of Winchester and Paradise, these less adventurous visitors may never actually set foot in Las Vegas proper.

They&#;re missing out. Beyond the Strip and the kitschy downtown casinos, Las Vegas looks much like any other large city in the southwestern United States, with tidy gated communities and Mission-style houses sprawling out toward the mountains rimming the valley.

Although tens of thousands of locals work in the hospitality, gaming, food service, and transportation industries, tech companies — anchored by online footwear retailing giant Zappos — have been growing as well. That&#;s putting the area on the radar for young, mobile professionals who have no interest in the gaming industry.


Lexington, Kentucky

Lexington Kentucky Horse Farm Blue Grass
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Lexington is Kentucky&#;s second largest city. Despite Louisville&#;s claim to the Kentucky Derby, Lexington bills itself as the &#;horse capital of the world&#; thanks to the surrounding Bluegrass region&#;s deeply ingrained equestrian culture. It&#;s also a major educational center for the Mid-South, with the University of Kentucky and Transylvania University collectively educating tens of thousands of students each year.

Despite its agrarian roots, Lexington&#;s economy is diverse and surprisingly forward-looking. In addition to the University of Kentucky, major employers include UPS, Amazon, Trane, Toyota, IBM, Lockheed-Martin, Lexmark International, and crane manufacturer Link-Belt Construction Equipment. There&#;s plenty of affordable rental housing to go around, both in the student-heavy urban core and the suburban apartment communities ringing it.


Memphis, Tennessee

Memphis Tennessee Blues Club Beale Street
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Downtown Memphis is perched on a bluff above the Mississippi River, and the city spreads outward in three directions from there. Many outlying communities in the Memphis metropolitan area, including portions of northern Mississippi and eastern Arkansas, are even more affordable than Memphis proper, although crossing the river daily can be a chore for commuters.

Although the region&#;s economy has seen its share of ups and downs, it&#;s built on a solid base that includes the global headquarters of AutoZone, FedEx, and International Paper. Other major Memphis-area employers include Cargill Cotton, American Residential Services, Carrier, Merck, and Medtronic.

Memphis is known as a bastion of barbecue and music — locals brag about the distinctive Memphis style. The Memphis International Jazz Festival and Beale Street Music Festival are world-renowned. Nearby Graceland is a magnificent tribute to Elvis Presley and the musical genres he spawned. Memphis also hosted consequential events of the civil rights movement, including the assassination of Dr. Martin Luther King, Jr.


El Paso, Texas

El Paso Texas Desert Mountains Sunrise Rocky
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Located in the westernmost corner of Texas, arid El Paso holds down the United States&#; portion of the El Paso-Juarez metropolitan area, also known as Paso del Norte. With nearly 3 million residents, Paso del Norte is the largest contiguous urban area bisected by the U.S.-Mexico border.

First-time visitors to Paso del Norte are invariably shocked by the region&#;s economic and cultural cohesiveness. Indeed, the border is a real economic asset that has, over time, transformed the region a major hub for international trade and manufacturing. El Paso is the largest U.S. port of entry on the Mexico border, surpassing the San Ysidro and Otay Mesa crossings near San Diego. Although drug cartel violence is a legitimate concern on the Juarez side of the border, El Paso is safer than most similarly sized U.S. cities, with a friendly, close-knit vibe that makes it feel much smaller than its , souls.

Many El Paso residents work in the public sector. Fort Bliss, a massive military base near the city, is a major pillar of the economy. So are the local public school districts, U.S. Customs and Border Patrol, the City of El Paso, the County of El Paso, and the University of Texas at El Paso. Major private sector employers include Automatic Data Processing, DISH Network, University Medical Center, Western Refining, and Helen of Troy Limited — the parent company of recognizable consumer brands such as Dr. Scholl&#;s and OXO.


Kansas City, Missouri

Kansas City Missouri Cityscape Skyline
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Kansas City is the anchor of a major metropolitan area straddling the Kansas and Missouri borders. Thanks to its central location within the continental United States, Kansas City is a major logistics hub and a central operation for the federal government. In fact, more than federal agencies have a presence in the city and its suburbs, including the Internal Revenue Service, the National Nuclear Security Administration, the General Services Administration, and the Social Security Administration. When it arrived in the 20th century, the federal employment base provided valuable stability in an agricultural region previously prone to economic boom-and-bust cycles.

Aside from the federal government, Kansas City&#;s employment base includes heavy manufacturing, pharmaceuticals, and agriculture. Ford and General Motors both have major manufacturing plants here. So does Honeywell, whose Kansas City facility manufactures non-nuclear components for the U.S. nuclear weapons arsenal. Sanofi-Aventis, a pharmaceutical giant, has an important research facility that focuses on animal health. Dairy Farmers of America, one of the country&#;s largest agricultural cooperatives, is headquartered in the area as well.


Indianapolis, Indiana

Indianapolis Indiana Skyline Canal
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Fondly known as the &#;Crossroads of America&#; or simply &#;Indy,&#; Indianapolis is conveniently located within a day&#;s drive of many of the United States&#; largest cities, including New York, Philadelphia, Washington, D.C., and Chicago.

Unsurprisingly, Indy is a major manufacturing and logistics hub. The area is home to three Fortune companies: Anthem, Simon Property Group, and Eli Lilly and Company. Other major companies with global headquarters or large facilities include Republic Airways Holdings, Finish Line, Calumet Specialty Products Partners, and Allison Transmission Holdings. In the Great Lakes region, Indy&#;s thriving startup economy — helped along by the region&#;s high quality of life and low cost of living — is second only to Chicago&#;s.

Indianapolis has a vibrant, diverse culture too. Its best-known event is the annual Indianapolis  auto race — by some measures the world&#;s largest single-day sporting event. Indy has also hosted the Super Bowl and the NCAA Men&#;s Basketball Tournament — not surprising given it&#;s the home to the NCAA headquarters, the governing body for collegiate athletics in the United States.


Lincoln, Nebraska

Lincoln Nebraska Orange Sunrise
  • Population: ,
  • Unemployment Rate: %
  • What You Get for 30% of Area Median Income: square feet
  • Average Apartment Size: square feet
  • Average Apartment Rent: $ per month
  • Price Per Square Foot at Average Rent: $ per month

Nebraska&#;s second-largest city is the state capital and home of the flagship campus of the University of Nebraska, the region&#;s third-largest employer. Unsurprisingly, the local culture is heavily influenced by the university and its huge student population. College football is the unquestioned regional pastime here; Husker fans are near-religious in their fervor.

In addition to the university, the State of Nebraska, Lincoln Public Schools, and several regional health care companies provide a solid, stable base of employment. Lincoln isn&#;t the most glamorous, beautiful, or exciting city in the world, but it&#;s affordable, friendly, and close-knit — a great place for newly arrived renters to find their feet and make a go of things.


Final Word

The old cliche about every real estate market being different holds true. In fact, it&#;s not uncommon to see stark differences across fairly short distances. I live in Minneapolis, where 30% of area median income nets square feet — pretty cozy by American standards. In neighboring St. Paul, just across the Mississippi River, 30% of area median income is good for about  square feet — not a vast difference, to be sure, but certainly more breathing room.

The relative priciness of Minneapolis rental housing wound up the deciding factor in my family&#;s decision to buy a house in an up-and-coming Minneapolis neighborhood. Compared with nearby rental housing, the place seemed like a steal, and we reasoned that the area&#;s owner-occupied housing values had more room to run. Had we been looking for housing in a more affordable metro for renters, we surely would have thought more carefully about whether to rent or buy.

Sours: https://www.moneycrashers.com/best-affordable-cities-live-renters/
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    CHEAP $700 per month Rent in NYC - 2020 Apartment Tour New York City

    By Andrew DePietro/GOBankingRates

    If you're looking for the cheapest cities to rent a home, you'll need to do some serious research. Not only will you have to look at different types of homes, but you'll need to look at how much it costs to rent in various cities -- and not just the big cities like New York, Los Angeles or Chicago.

    Lucky for you, GOBankingRates.com did a lot of the work and compiled a list of the top 20 cheapest cities for renters. In our study, we ranked the most populous U.S. cities based on the median rent of one-bedroom homes, two-bedroom homes and single-family residences sourced from Zillow.

    Whether you're fresh out of college or looking for an affordable city to rent during retirement, here are the 20 cheapest cities to rent in the U.S.

    Rochester, New York

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    The median rent for a one-bedroom and a two-bedroom in Rochester is cheap -- but it's really the rent for a single-family residence that puts it in the top 20 cheapest cities to rent. Median rents in Rochester are much cheaper than in New York City and even beat rents in another upstate city, Buffalo.

    To get the best deal on an apartment or home, consider renting a home in the neighborhoods with the cheapest apartments, such as Culver-Winton, Charles House and Maplewood, according to RentJungle.com.

    Indianapolis

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    Apartment rental prices are low in Indianapolis, but in the last three years, rents have increased year-on-year, according to RentJungle data.

    Out of the 20 cheapest cities to rent, Indianapolis has the second-highest median rent for one-bedroom homes and the third-highest median rent for two-bedrooms.

    Boise, Idaho

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    Can't decide whether you should buy or rent a home in Boise? You might want to consider renting.

    According to HousingPredictor.com, Idaho's real estate market is experiencing record lows for inventory, which could be the reason why home prices are rising.

    Cincinnati

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    The Cincinnati housing market is struggling with tight inventory, and many people are deciding on renting instead of buying. Fortunately, Cincinnati still offers some of the lowest median rents in the U.S.

    Median rents for single-family residences in Cincinnati are much lower than Columbus' median rent of more than $1,

    Des Moines, Iowa

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Families looking to rent in Des Moines will enjoy a median rent of $ for a single-family residence, the seventh-cheapest rent of the top 20 cheapest cities to live.

    But the low rents might not last. After home values in the city bottomed out in , they increased by around $15, over the last next years, according to Zillow data. During the same period, rent list prices jumped by more than $ a month.

    Lubbock, Texas

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    Lubbock is one of two cities in Texas to make the top 20 cheapest cities for renters. As the Lone Star State's booming economy pushes housing prices higher in its major cities, Lubbock has managed to still be cheap. Notably, Lubbock boasts the fifth cheapest one-bedroom median rent.

    Little Rock, Arkansas

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    Little Rock is almost perfectly centered in the middle of Arkansas, far from other major metro areas. Despite this, Little Rock's median rents are all $1, or less.

    The median rent for two-bedroom units in Little Rock is among the cheapest in the nation. However, according to Zillow, the Little Rock housing market is very hot and currently favoring home sellers. As home values have increased in Little Rock, so has the median rent list price -- from $ a month in December to around $1, a month as of July

    El Paso, Texas

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    Across the border from Mexico, El Paso is the 20th-largest city in the U.S. by population and the sixth-largest city in Texas. Smaller than cities such as Houston, Dallas and Austin, El Paso boasts median rents that are cheaper than all of them. And, rent list prices actually decreased from August to July , according to the Zillow Rent Index.

    &#; Spokane, Washington

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    If you want to live in Washington but can't afford Seattle's high prices, then Spokane could be your solution. Spokane has one of the nation's cheapest median rent prices for one-bedrooms and costs more than $1, less than the median rent in Seattle.

    Meanwhile, single-family residences in Spokane have a median rent that's over $1, less than Seattle's and around $ less than the median rent of another popular Pacific Northwest city, Portland, Oregon.

    Tallahassee, Florida

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    Tallahassee's median rents are cheaper than those in larger Florida cities. For example, the median rent for a two-bedroom unit in Tallahassee is $ cheaper than in Orlando and $1, cheaper than in Miami.

    Tucson, Arizona

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $1,

    Tucson boasts some of the cheapest median rents in the U.S. Coming in at No. 10 of the cheapest places to rent, Tucson scores one of the cheapest one-bedroom median rents in the country, behind cities like Toledo, Ohio, and Wichita, Kansas. One-bedroom median rents in Tucson are nearly $ cheaper than Phoenix rents, too.

    9. Greensboro, North Carolina

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    One-bedroom, two-bedroom and single-family residence median rents in Greensboro are all hundreds of dollars less on average than in Charlotte.

    8. Memphis, Tennessee

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Memphis is the first of two Tennessee cities to make our list of the cheapest cities to rent a home. Rental rates in Memphis also compare favorably with Nashville.

    7. Knoxville, Tennessee

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Knoxville is up and coming, but this city's median rent is cheap -- especially for one-bedroom units. Two-bedroom residences, however, will cost a bit more than most cities on our list of the cheapest places to rent.

    6. Columbus, Georgia

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Columbus comes in at No. 6 of the cheapest places to rent, thanks mainly to the median rents of two-bedroom and single-family residences. Columbus is tied with two other cities for the fourth-cheapest single-family median rent on our list. Meanwhile, its median rent for two-bedroom units is the third-cheapest of the cities on our list.

    5. Augusta, Georgia

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Georgia is a real estate hotbed, with Atlanta and Marietta ranking among the top 20 U.S. cities experiencing the biggest increases in home prices. Fortunately, Augusta is still very cheap when it comes to rent. Single-family residences in Augusta tie for the third-cheapest median rent in the U.S. among the 20 cheapest cities on our list.

    4. Fayetteville, North Carolina

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Fayetteville racks up solid numbers across all three categories of residences. On this list of the 20 cheapest places to rent, the city's single-family median rent is tied for the fourth-cheapest alongside Memphis and Columbus. In terms of one-bedroom and two-bedroom median rents, Fayetteville is among the cheapest, too.

    3. Wichita, Kansas

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Wichita has some very cheap apartments for rent, scoring the second-cheapest one-bedroom median rent on our list. Wichita also ties for third place for the cheapest single-family residence and comes in fourth for the cheapest two-bedroom median rent.

    Wichita's cheap rents could be ideal for trying to get younger generations to move in. Considering millennials seem to be less interested in homeownership these days, cheap apartments could be key to bringing in fresh blood and money to the city's economy.

    2. Detroit

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    One-bedroom apartments in Detroit are cheap, but not the cheapest on our list. With the other apartment types, however, Detroit ties for the cheapest two-bedroom median rent but claims the No. 1 spot for the cheapest single-family residence median rent.

    Not all parts of Detroit are cheap for renters, however. Rent prices vary widely, with neighborhoods like Barton-McFarland costing less than $ a month while Downtown Detroit costs nearly $1, a month, according to RentJungle.

    1. Toledo, Ohio

    • 1-bedroom median rent: $
    • 2-bedroom median rent: $
    • Single-family residence median rent: $

    Toledo takes the top spot for the cheapest cities to rent a home.

    Though the vacancy rate for apartments in Toledo inched up to percent in the last half of , in general, the apartment market is strong. Since the end of , Toledo's vacancy rate has gotten smaller while its average rental rate has risen, according to a March article in The Blade.

    Fortunately, rental prices in Toledo are still at national lows and beat the other Ohio cities on our list of the 20 cheapest cities. Toledo has the cheapest one-bedroom median rent, one of the cheapest two-bedroom median rents and the second-cheapest single-family residence median rent.

    And if you're looking to lower your monthly rent even more, the cheapest neighborhoods to rent apartments in Toledo include Birmingham, Franklin Park and Scott Park, according to RentJungle.

    Methodology

    GOBankingRates used July data from Zillow.com (sourced Sept. 8, ) on the median rent for a one-bedroom apartment, the median rent for a two-bedroom apartment and the median rent for a single-family residence to calculate the cheapest cities to rent an apartment based on the most populous cities in the U.S., according to Census estimates.

    Sours: https://www.cbsnews.com/media/cheapest-rent-housing-us-cities/

    Homes rent cheap for

    You could watch the peeing peeing from the shocks. Shock awaited me when I entered one of the stalls. On the partition connecting the cockpit there was a hole with my fist and the adjacent cockpit was all in sight. But the most interesting thing is that hairs were drawn around this hole by the hand of a skilled artist as if it were an open anus.

    Everything else was completed in a completely naturalistic way - hairy ass and legs spread and raised up, and above the hole of the.

    Rent to Own Homes from $389 a Month

    We started talking. It turns out that after I was drafted into the army (we did not promise anything to each other), she married a good guy. We parted recently.

    Similar news:

    Immediately after she returned to the table, we went to the room, and we have several times in a row It happened a long. Time ago in the late 80s, I was…. no matter how long, I was married and lived in a village opposite the city of Murmansk across the bay.



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