I’ve been doing some research on affordable places to rent, and it looks like Little Rock, AR tops the list for 2024. Rent there is only about $983 per month. Does anyone here have experience with these cities or know other good places with cheap rent?
Yeah, I heard about Little Rock too. Rent is super low, but I’m curious if the cost of living is also affordable. It’s around 87.7, so it’s definitely below the national average.
Riley said:
Yeah, I heard about Little Rock too. Rent is super low, but I’m curious if the cost of living is also affordable. It’s around 87.7, so it’s definitely below the national average.
That sounds like a great deal! The rent as a percentage of income is only 24.3%, which is way better than most places. I’ve been thinking about moving to a cheaper city too.
@Alby
True, but you should also think about job opportunities. I saw that average annual income in Little Rock is below average at $48,450. It might be tough if you’re looking for higher-paying jobs.
River said:
@Alby
True, but you should also think about job opportunities. I saw that average annual income in Little Rock is below average at $48,450. It might be tough if you’re looking for higher-paying jobs.
Good point. I’d also check out the unemployment rate. It’s only 2.5%, which is below average, so it seems like there are jobs available.
@EquityElaine
That’s a great stat. Plus, the rental vacancy rate is 14%, so you should have plenty of options when looking for a place to rent.
I’ve heard Tulsa, OK is another affordable option. Rent is around $1,149 per month, which is still below the national average. Anyone familiar with the job market there?
Baylor said:
I’ve heard Tulsa, OK is another affordable option. Rent is around $1,149 per month, which is still below the national average. Anyone familiar with the job market there?
Tulsa’s pretty solid. The average income is $49,800, so while it’s not super high, it’s decent. Plus, the cost of living is low at 88.6. The income-to-rent ratio is 27.7%, so it’s manageable.
@Shai
Also, the commute time is only 19 minutes, which is lower than a lot of cities. It’s a good spot if you want to avoid long drives.
Reilly said:
@Shai
Also, the commute time is only 19 minutes, which is lower than a lot of cities. It’s a good spot if you want to avoid long drives.
Yeah, that’s a huge bonus for me. I hate long commutes. The rental vacancy rate is 9%, so it shouldn’t be too hard to find a place either.
Omaha, NE is another city that made the list. Rent there is around $1,135 per month, and the cost of living is 91.7. Anyone here from Omaha?
Heath said:
Omaha, NE is another city that made the list. Rent there is around $1,135 per month, and the cost of living is 91.7. Anyone here from Omaha?
I’m from Omaha. The rent here is pretty affordable, and the job market’s decent too. The average income is around $53,050, so it balances out.
@Vic
What’s the rental market like? Is it easy to find an apartment?
GregoryWish said:
@Vic
What’s the rental market like? Is it easy to find an apartment?
It’s not too bad. The vacancy rate is 7.5%, so you’ll have some choices. Commute time is just 19 minutes, so it’s a pretty convenient city to live in.
@Kel
That sounds great! I’ll definitely consider it. I’m looking for a place with a shorter commute.
Has anyone looked into Wichita, KS? I saw it’s one of the cheapest places to rent at $880 per month. I’m thinking about it, but I’m not sure about the job market.
Finn said:
Has anyone looked into Wichita, KS? I saw it’s one of the cheapest places to rent at $880 per month. I’m thinking about it, but I’m not sure about the job market.
Wichita’s super affordable, but the average income is a bit lower at $47,590. The cost of living is low too, at 87.9. You’ll definitely save on rent though.
@Nico
Also, the rent as a percentage of income is only 22.2%, so it’s pretty manageable. The rental vacancy rate is 8.2%, so you should find a place easily.
Remy said:
@Nico
Also, the rent as a percentage of income is only 22.2%, so it’s pretty manageable. The rental vacancy rate is 8.2%, so you should find a place easily.
That’s a great ratio. I might check it out. Any idea about the unemployment rate?
@Rowen
Unemployment is average at 4.5%, so it’s not bad. Plus, commute time is only 19 minutes, which is a nice perk.