Like most things in 2020, the rental market was far from normal. Millions of renters were unemployed for weeks or months during pandemic shutdowns. And while many managed to stave off homelessness thanks to rent moratoriums, they could still owe back rent. Meanwhile, many small landlords have been left struggling to pay the mortgage without the rental income, according to media reports.
The average monthly rent for a one-bedroom apartment in the U.S. in 2020 was $1,098 a month, according to World Population Review .
According to Apartment List, rent declined in many cities in 2020. Pricey cities such as San Francisco saw the largest rent drops, while fast-growing midsize cities experienced rent increases. In Boise, Idaho, for example, rents went up about 12%.
To find the most affordable cities to rent, GOBankingRates looked at the 150 largest cities in the U.S. and found each city’s overall estimated typical rent price, estimated rent for a studio, 1-bedroom, a 2-bedroom, and a 3-bedroom apartment, according to October 2020 data from Apartment List. The cities were ranked on the combined score for all five rent prices.
These are the cheapest cities in which to rent.