Living Single? Here’s Where To Get The Most Housing For Your Money

While many cities across the United States are struggling to meet the housing demands of residence, which pushes the cost of rentals ever higher, there are some places where people can find a nice apartment for a pretty reasonable price.

Those who prefer to live alone can have a particularly hard time hunting down an affordable studio apartment, but a recent survey of the nation’s 50 most populous cities offers some hope.

In addition to simply looking at the places where studio apartments are the cheapest, RentHop also took into consideration the average income of single people in these cities to determine where such housing is actually the most affordable.

Here are the locations that came out on top:

• Albuquerque, New Mexico: The typical studio apartment is about $700 while the average income is roughly $54,804, which means rent accounts for about 15.3% of income.
• Wichita, Kansas: Individuals don’t tend to make as much here (about $44,500), but with an apartment available for under $600 housing only demands about 16% of that income.
• Minneapolis, Minnesota: An average salary in this city is pretty high — $72,359 — so even studio apartments that hover just under the $1,000 mark still only eats up about 16.4%.
• Seattle, Washington: This trendy city has both the highest average rent price and highest average salary on the list, but it all evens out to housing costs that account for about 16.7% of the typical income.
• Colorado Springs, Colorado: You can find a studio apartment here for about $925 and expect to make nearly $65,000 per year, meaning rent will take up just over 17% of your income.

If you’re wondering, New York City is dead last on the list, with prices that claim nearly 44% of the average renter’s income.

Chris Agee February 6th, 2023

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