Houses for Rent in the USA – Rental Home Price Guide
Renting a house in the US, like anything, has its pros and cons. But what is true is that since the term “Subprime Mortgage Crisis” became a regular part of our vocabulary, so has the term “Renting a House in the US”. Renting a house is becoming an increasingly popular option all over the US.
Search queries like; “How much is house rent in the U.S. per month”, “House rent in USA, New York”, or “Rent house in America, price” to name a few, are shooting through the roof.
As you can see from the queries, an important decision-making factor is the price. People are interested in cheap houses for rent in the US. Now, of course, it’s obvious that affordable rent is something that every person should ideally have the right to, but the markets truly decide if you win the “Cheap houses to rent in America” lottery!
How Much Should I Expect to Pay - Houses for Rent Near Me?
Now, how much does an apartment cost to rent? - The answer depends on 3 things; location, location, location! For example, the average monhtly rent for a one-bedroom apartment was $960 in February 2021. If you are familiar with the market, you will know that many cities have an average rent that is much higher for a one-bedroom apartment, simply because of the popularity of the city. This principle also applies to the average house rent price in the USA.
The Cities with the Highest Rent in the USA
If you are a true-blue coast-hugging American renter, these rent prices tell a similar story as before the COVID pandemic. The cities on both the East and West coast are relatively much more expensive to rent. Leading the pack is San Francisco, followed by New York, Washington D.C, Boston, and San Jose (another California city) to round off the top 5. Another interesting thing is all the rest of the cities in the top 10 are also from California, according to the report. It looks like the high California taxes are just not enough to get the majority of people to look for cheaper pastures! Cheap rental areas do exist in places like the Bay Area, Greater LA, and the New York metropolitan area, but they are few and far between.Source: earnest.com
The Cheapest States to Live In
The rental market starts getting cheaper the moment you leave the coasts and head inland. The Midwest, Mountain West, and the South have some of the most affordable rental properties.
Other Factors Impacting Average Rent by City
Keep in mind, also, that various other complex factors also drive housing and rental prices: local land-use policies, economic conditions, housing quality, and supply and demand, for example. In some “affordable markets” where average rent prices are lower, like in the industrial Midwest, an ongoing cycle of economic stagnation and population outflows weakens housing demand. Rent being low in these markets, where good-paying jobs tend to be scarce, doesn’t mean they’re necessarily desirable for working-age people. However, the growth of remote working combined with hospitality businesses shifting from higher rent areas due to the COVID pandemic could turn this around to the benefit of those very cities.
Also, as witnessed in recent rental reports, higher rent areas like the Bay Area are again beginning to see increases in rental prices again. This surely means that the affordability of such places is not going to be what people expected before the price crash in rental markets that happened during the early months of the COVID-19 pandemic.
As things go back to normal, prices will also follow suit. However, anyone that has the flexibility of remote working should rest assured that relocating to smaller cities and towns could be a rewarding experience. It is quite likely that businesses will also follow suit and make those areas livelier than they already are!
Cheap Houses for Rent in the USA – Our Top Picks
That being said, here are our top 3 picks for the most affordable cities, where you can find cheap houses for rent in the USA. This is where affordability, job security, and quality of life meet up for the best possible combination!
1.Gilbert, Arizona: If you are moving to the fast-growing Phoenix metropolitan area, for a huge possible number of reasons; be it a career, climate, or claustrophobia of big cities; Gilbert is the place to go!
1.Gilbert, Arizona:If you are moving to the fast-growing Phoenix metropolitan area, for a huge possible number of reasons; be it a career, climate, or claustrophobia of big cities; Gilbert is the place to go!
2.Plano, Texas: If you want to be part of a serious success story in the Lone Star state, and be close to the fourth largest metropolitan area (Dallas-Fort Worth) in the country, look no further than Plano!
2.Plano, Texas:If you want to be part of a serious success story in the Lone Star state, and be close to the fourth largest metropolitan area (Dallas-Fort Worth) in the country, look no further than Plano!
3.Virginia Beach, Virginia: If you want an affordable place with plenty of government jobs (US military top among them) and a unique combination of sun, sand, and military hardware coexisting in an area of unparalleled family safety, look no further than Virginia Beach! According to the Guinness World Record, it boasts the largest pleasure beach anywhere in the world.
3.Virginia Beach, Virginia:If you want an affordable place with plenty of government jobs (US military top among them) and a unique combination of sun, sand, and military hardware coexisting in an area of unparalleled family safety, look no further than Virginia Beach! According to the Guinness World Record, it boasts the largest pleasure beach anywhere in the world.
About ApartmentLove – Houses for rent USA
Here at ApartmentLove.com, our team is committed to helping you find the apartment of your dreams; one that suits your lifestyle and budget. Renting has never been easier.
Whether you’re looking for a house to rent in the USA, California, or a condo in downtown Chicago, our vast database of listings guarantees you will find what you are looking for!
Published: June 07, 2021