The Top 10 Most Budget-Friendly Metros for Renters in the U.S.
When ApartmentGuide.com took into consideration its own listing data as well as the Cost of Living Index, they discovered that the South is the most reasonable. You'll be surprised to see which metros made the list.
As much as we like to look at gorgeous photos of multi-million dollar mansions and dream about living in them, most of us haven’t achieved that … yet. But we’re trying. According to research done by ApartmentGuide.com, a leading online source for finding rentals nationwide, renters are coming up with all sorts of savvy ways to save up. Some are even going to the extent of moving to what a recent survey found to be the Top 10 Most Budget-Friendly Metros.
To come up with this fascinating info, Apartment Guide took a look at its own listing data, as well as the Cost of Living Index. They factored the metros with the lowest average rent costs in with the lowest cost of living, as determined by the the Council for Community and Economic Research.
What they found may or may not surprise you. The three most budget-friendly metros, starting with Tulsa, are in the South. A few on the list are in the Midwest, but not one is on the West Coast, nor in the Northeast. Okay, so the cities on the budget-friendly list may not be among those most people consider the most glamorous, but you’re also more likely to one day afford a gorgeous mansion in these areas, and pay well under a million for it.
See the Most Budget-Friendly Cities in the U.S.View All 10 Photos
Apartment Guide also did a survey to find out how renters are saving – and spending – their money these budget-conscious days. Here are some of their findings:
- 80% of respondents are opting not to hire a moving company to facilitate their move.
- Most renters (70%) spent less than $1,000 total on their recent move (including movers, moving supplies, broker fees, deposits)
- Slightly more than half of renters (54%) think they overspend on everyday purchases (e.g. groceries, transportation) and plan on cutting costs on these items this year.
- About 1 in 3 (33%) renters plan on increasing spending this year on home entertainment (e.g. cable, Internet, consumer electronics, etc.)
- 62% of renters believe that developing a monthly budget would help them cut costs in the New Year.