Big city living has advantages, including more amenities such as parks and businesses than smaller cities in the United States. However, when relocating to some of the largest cities in the United States, it is critical to consider the seemingly ever-increasing cost of apartment rentals.
Spoiler alert: New York City and Los Angeles are out of the question for those looking for a lower cost of living in a big city. However, there is some good news for city dwellers.
Kiplinger’s ranking of the ten largest cities with the lowest rent prices reveals how affordable rent is for some Americans who live in big cities.
Can you guess which Alabama city made the list?
Most Affordable Big Cities
Kiplinger compiled its list with data from a variety of sources, including the Council for Community and Economic Research’s Cost of Living Index and the United States Census Bureau.
They limited their findings to cities with populations of at least one million people.
When it comes to smaller cities in the United States, the results differ. For example, according to one report, Oshkosh, Wisconsin is the cheapest small American city to rent. As of 2022, Oshkosh renters paid an average of $890 per month.
These are the largest cities with the most affordable rent. When reviewing these statistics, keep in mind that the national average for all types of apartments is $1,547.
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 first on the list of major American cities with the lowest rent.
In 2023, rent prices in Oklahoma fell by about 2%, while the national average rose by about 1%.
Oklahoma City’s rent prices reportedly fell due to a high vacancy rate, which was around 10% at the end of 2023. High vacancy rates drive down prices because landlords are less motivated to raise rents in an oversaturated market.
Comparing Rent and Quality
Birmingham may be number four on the list of major U.S. cities with the lowest rent, but it ranks 129th among the best places to live, according to U.S. News & World Report.
The ranking was based on factors such as good value, a strong job market, and a high quality of life.
Oklahoma City ranks 16th on the U.S. News list. Naples, Florida is ranked as the best place to live, with Detroit, Michigan coming in last.
Pittsburgh’s Safety Rankings
Pittsburgh, the tenth major city on the list, was ranked first in terms of safety. According to a 2023 report, Pittsburgh is the safest city for property crime and the third-safest for violent crime.
Pittsburgh is the third-best city for outdoor recreation in the United States.
If you’re Irish at heart, Pittsburgh is also ranked as the fifth-best city for St. Patrick’s Day.
