With the price of rent always trending upwards, cheap rent can be a strong motivator. Tenants may want to seek cheaper alternatives, and rental property investors may seek for properties that have lower price points. Here we analyze the cheapest rent prices for residential properties throughout the country in 2023, with an emphasis on different states and major metropolitan areas.
1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.
10 Cheapest Rent US States 2023
|#8||West Virgina (WV)||$975|
10 Cheapest Rent US Metros 2023
|#1||St. Louis, MO-IL Metro||$979|
|#2||Oklahoma City, OK Metro||$1,031|
|#3||Cleveland-Elyria, OH Metro||$1,039|
|#4||Birmingham-Hoover, AL Metro||$1,052|
|#5||Louisville, KY-IN Metro||$1,069|
|#6||Columbus, OH Metro||$1,076|
|#7||Memphis, TN-MS-AR Metro||$1,080|
|#8||Rochester, NY Metro||$1,101|
|#9||Indianapolis-Carmel-Anderson, IN Metro||$1,103|
|#10||Kansas City, MO-KS Metro||$1,170|
10 Cheapest Rent US Cities 2023
|#4||Sioux Falls, SD||$954|
|#10||Baton Rouge, LA||$1,026|
Average Rent Prices by US State 2023
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