This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

10 Places Where $1,000 Will Rent You a One-Bedroom Apartment

NEW YORK (TheStreet) -- What can $1,000 bring you in an apartment rental?

It's a question more Americans ask every day. According to the National Association of Realtors, there are 40 million renters in the U.S. today, but that number should rise by another 6 million over the next 10 years as homeownership grows too expensive for many Americans.

Respondents to a July study by the NAR on renting trends says student loans are the biggest reason for avoiding homeownership although it's not the only reason. Higher home prices and tougher mortgage lending standards also add to the renter population.

"Student loan debt is a concern for many consumers in today's market, especially first-time buyers," NAR president Gary Thomas says. "Buyers with student loan debt may find it difficult to access mortgage credit, as well as save for a down payment. Pending mortgage finance regulations requiring higher down payments could also contribute to the already tight lending environment."

In general, says location is what continues to matter most, but even in pricey cities such as New York and San Francisco, $1,000 can still get a good apartment if you're "creative" about it. The survey says splitting an apartment with a roommate and committing to a longer-term lease are at the top of the list of ways to maximize apartment budgets.

"There are still many rental properties available in top U.S. markets that have an average monthly rent of $1,000 or less," says Dick Burke, president of "Despite the fact that we're experiencing one of the lowest apartment vacancy rates in more than a decade, apartment seekers who remain flexible by looking at a variety of neighborhoods, apartment sizes and living arrangements often end up securing the best deals."

Some big cities, most notably New York, Los Angeles, Chicago, Philadelphia, Boston, San Francisco and Washington, D.C., can't even offer studio apartments for under $1,000, but there are plenty of cities where $1,000 will get you a nice one-bedroom. Here are 10, with the average price for a one-bedroom apartment:

  • Atlanta, Ga.: $966
  • Portland, Ore: $955
  • Austin, Texas: $948
  • Dallas, Texas: $914
  • Houston, Texas: $913
  • Tampa, Fla.: $845
  • Cleveland: $791
  • San Antonio, Texas: $758
  • Phoenix, Ariz.: $715
  • Las Vegas: $693

There are also some serious deals in select cities, including three-bedroom apartments in Las Vegas for an average cost of $993; three-bedrooms in Cincinnati for $938; or two-bedrooms in Phoenix for $875.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $128.46 0.00%
FB $78.97 0.00%
GOOG $558.40 0.00%
TSLA $203.34 0.00%
YHOO $44.28 0.00%


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs