Wow! This New York Town Has The Cheapest Rent In America

The cost of renting in the United States has gone through the roof in the last 4 years. I can tell you from personal experience that, for 1,000 square feet of living space, I was paying $800 a month in 2020. That went to $1400 a month in 2021, following a move, and $1650 a month in 2024.

According to World Population Review, the average rent for a typical apartment is $1,659 a month. The average asking rent is $1900 a month and it's more that $2000 a month for a single-family home. The good news is, the Cheapest Rent In America Is In This New York Town.  

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There are a number of considerations that determine the cost of rent in New York State and around the country. Supply and demand, amenities, location of the rental and economic conditions are just a few of the factors. At the end of the day you just want something affordable.

Clever Real Estate examined the rental market for the United States and, based on rent-to-income ratio, determined which cities were the cheapest places to live. In other words these residents use the smallest percentage of their monthly income on rent.

Before we get to the cheapest rent in America, here are the 5 most expensive cities for rent:

• Atlanta, Georgia
• Nashville, Tennessee
• Austin, Texas
• Charlotte, North Carolina
• Dallas, Texas

Here are the 5 cheapest cities for rent in America:

1. Buffalo, New York - 39% of income used to rent
2. St. Louis, Missouri - 46% of income used to rent
3. Hartford, Connecticut - 48% of income used to rent
4. Minneapolis, Minnesota - 51% of income used to rent
5. Providence, Rhode Island - 54% of incomes used to rent