10 Big American Cities with the Cheapest Rent Prices. American Renters, Take Note
Big city living has its advantages, including more amenities like parks and businesses compared to smaller cities in the U.S. But when moving to some of the largest cities in the U.S., it’s vital to consider the seemingly ever-rising prices of apartment rentals.
Spoiler alert: New York City and Los Angeles are off the table for those looking for a cheaper cost of living in a big city. But it’s not all doom and gloom for big-city lovers.
Kiplinger’s ranking of the 10 biggest cities with the cheapest rent prices provides an insight into just how relatively low rent is for some Americans calling big cities their home. If you live in a major city or are thinking of moving to one, you need this information.
For reference when looking through this list, the national average for apartments of all types is $1,547.
Most Affordable Big Cities
Kiplinger compiled its list using data from various sources, including the Council for Community and Economic Research Cost of Living Index and the U.S. Census Bureau. They limited their results to cities with a population of at least 1 million people.
When looking at smaller cities in the U.S., the results are different. For example, one report shows Oshkosh, Wisconsin as the cheapest small American city for rent. As of 2022, Oshkosh renters were paying an average of $890 per month.
1: Oklahoma City, Oklahoma
- Average apartment rent: $839
- Median household income: $66,301
- Metro population: 1,459,380
2: Birmingham, Alabama
- Average apartment rent: $1,032
- Median household income: $67,242
- Metro population: 1,116,857
3: Tulsa, Oklahoma
- Average apartment rent: $1,059
- Median household income: $63,369
- Metro population: 1,033,157
4: St. Louis, Missouri
- Average apartment rent: $1,061
- Median household income: $74,531
- Metro population: 2,799,828
5: Buffalo, New York
- Average apartment rent: $1,119
- Median household income: $68,698
- Metro population: 1,161,192
6: Columbus, Ohio
- Average apartment rent: $1,254
- Median household income: $75,777
- Metro population: 2,161,511
7: Houston, Texas
- Average apartment rent: $1,368
- Median household income: $74,863
- Metro population: 7,340,118
8: Cincinnati, Ohio
- Average apartment rent: $1,381
- Median household income: $75,062
- Metro population: 2,268,393
9: Minneapolis-St. Paul, Minnesota
- Average apartment rent: $1,398
- Median household income: $91,341
- Metro population: 3,693,729
10: Pittsburgh, Pennsylvania
- Average apartment rent: $1,547
- Median household income: $74,755
- Metro population: 2,349,172
Oklahoma’s Affordable Living
Oklahoma City is number one on the list of big American cities with the lowest rent. In 2023, rent prices in Oklahoma state as a whole declined by about 2% while the national average increased by approximately 1%.
Rent prices reportedly lowered in Oklahoma City due to its high vacancy rate, which was at about 10% at the end of 2023. High vacancy rates curb prices because landlords are less motivated to raise rents due to an oversaturated marketplace.
Comparing Rent and Quality
Birmingham may be number four on the list of major U.S. cities with the cheapest rent, but it lands at number 129 in terms of the best places to live, according to U.S. News & World Report. Factors used to rank that list include good value, a strong job market, and a high quality of life.
Oklahoma City lands at number 16 on U.S. News’ list. Naples, Florida, ranks as the number one best place to live, while Detroit, Michigan, comes in last.
Pittsburgh’s Safety Rankings
The number 10 major city on the list, Pittsburgh, ranked number one for safety. According to a 2023 report, Pittsburgh is the safest city in terms of property crime, and it comes in third safest for violent crime.
Pittsburgh ranks as the third-best city for outdoor recreation in the U.S. If you’re Irish at heart, the Steel City also ranks as the fifth-best city for St. Patrick’s Day.
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