No area of the United States has apartment rental prices at or below $200. Wichita, Kansas is the least expensive major city for apartment rentals according to a 2014 report by NBC News. One-bedroom apartments in that investigation rent for over $450 per month.Continue Reading
The cheapest rental market found by Apartment Guide is Florence, Alabama, where the median rent is over $390 per month as of a 2014 study. Florence is a small city that is not close to any major metropolitan area.
The historical trend in the U.S. economy is that rents rise. While the cheapest rentals in every city vary from year to year, historical market trends make future rent decreases unlikely. This constant rise in rental price is due to lower rates of home ownership and disproportionately affects studio and one-bedroom apartments.Learn more about Real Estate