Apartments renting for $300 may be found in rural or outlying areas or in subsidized areas. Beginning a search for cheap rent begins with committing to the limitations of cheap rent: location, space and income, according to Money Crashers.Continue Reading
The most common limits to finding cheap rent are location and commute. While many people look for apartments in city centers, they are more likely to find affordable housing in rural or suburban areas, according to Money Crashers. Additionally, one can organize car pools with neighbors to commute more effectively. Renters who depend on public transportation may begin searching near the farthest reaches of bus lines and commuter train routes.
Space almost always increases the price of an apartment, but likewise, finding a roommate can split the cost by half, Money Crashers states. By this logic, a renter could find a larger apartment and share the cost with a roommate.
The government provides housing subsidies for qualifying people with lower incomes, states the U.S. Department of Housing and Urban Development. Low-income renters can contact HUD through local public housing agencies to learn about available housing subsidies.
A rule of thumb to consider when searching for housing is that the monthly rent shouldn't exceed more than 30 percent of one's monthly income, according to Money Crashers.Learn more about Finding a Home