If you are looking for affordable rent in today’s rising market, you are at the right place.
As of May 2025, the national median rent has climbed to $1392, continuing a steady month-over-month rise. With many Americans now spending over 30% of their income on rent, housing affordability remains a major concern.
To identify the most budget-friendly cities, Wallethub analyzed over 180 U.S. cities using 2023 Census Bureau data, comparing median gross rent to median household income.
This list highlights 10 U.S. cities where rent takes up the smallest share of residents’ income, offering value for renters without sacrificing quality of life.
Bismarck, North Dakota
Annual Gross Rent: 15.34%
Bismarck offers some of the most affordable rents in the U.S. As of March 2025, the average rent stands at an exact $1,179, marking a $150 decrease from the previous year. A two-bedroom apartment averages $955, reflecting a modest 2.91% year-over-year increase.
These figures position Bismarck as a cost-effective choice for renters seeking value without compromising on quality of life. The city’s rental properties often feature cozy amenities like fireplaces and heated floors, catering to the city’s cold winters.
Sioux Falls, South Dakota
Annual Gross Rent: 15.95%
Sioux Falls combines affordability with a growing rental market. As of March 2025, the average rent is $1,500, slightly 19% lower than the national average.. A two-bedroom apartment averages $1,042, up 9.8% year-over-year. With 567 available rentals, Sioux Falls offers a range of options for budget-conscious renters.
Sioux Falls boasts apartment communities like Western Heights, offering amenities such as on-site management, laundry facilities, and outdoor sitting areas, enhancing the living experience for renters.
Cheyenne, Wyoming
Annual Gross Rent: 16.09%
Cheyenne presents a balanced rental market. As of March 2025, the average rent is $1,500, compared to the last year, rent has increased by $420. As per the Fair Market Price rent, a two-bedroom apartment in Cheyenne city province averages to $1,161 per month, reflecting a 22.6% year-over-year rise .
Despite these increases, Cheyenne’s rents remain approximately 33% lower than the national average, offering value for renters seeking affordability.
Cedar Rapids, Iowa
Annual Gross Rent: 16.36%
Cedar Rapids offers a median rent of $990 as of May 2025, which is 48% lower than the national average. This affordability makes it an attractive option for renters seeking value. The city provides a variety of rental options, including 2-bedroom apartments averaging $1,036 per month.
With 157 total rentals available, Cedar Rapids combines cost-effective living with diverse housing choices. The city offers a vibrant cultural scene, featuring attractions like the Cedar Rapids Museum of Art and the Paramount Theatre, providing enriching experiences beyond just affordable housing.
Fargo, North Dakota
Annual Gross Rent: 16.65%
Fargo’s rental market remains competitive, with a median rent of $1,030 as of May 2025, 46% below the national average. The city offers a range of rental options, including 3-bedroom houses averaging $1,637 per month.
With 332 total rentals available, Fargo provides affordability alongside a variety of housing choices. Renters can benefit from amenities like in-unit washers and dryers, private entrances, and included heat utilities in communities such as Thunder Creek Apartments in Fargo.
Charleston, West Virginia
Annual Gross Rent: 16.70%
Charleston presents a median rent of $1,000 as of May 2025, 47% lower than the national average. The city offers a variety of rental options, including 2-bedroom houses averaging $1,135 per month. With 31 total rentals available, Charleston combines affordability with diverse housing choices.
The city also boasts numerous parks and recreational facilities, including Coonskin Park, which features amenities such as a swimming pool, a golf course, and picnic areas, enhancing the quality of life for renters.
Casper, Wyoming
Annual Gross Rent: 16.72%
Casper’s median rent is $1,050, which is 45% lower than the national average. The city offers a variety of rental options, including 2-bedroom houses averaging $1,015 per month. However, as per a local report by the CitizenPortal, the city faces a housing supply challenge; in 2024, only 62 new homes were constructed, while 714 were sold, indicating high demand and limited availability. To meet projected growth, Casper needs about 300 new market-rate housing units annually over the next decade.
Overland Park, Kansas
Annual Gross Rent: 16.81%
As per the rental market trends on Zumper, Overland Park’s median rent stands at $1,550 as of May 2025, 18% below the national average. The city offers a diverse range of rental options, including 1-bedroom apartments averaging $1,330 per month.
The city boasts the highest average home square footage in the country at 2,787 sq ft, offering spacious living options. Its high median income and quality of life contribute to its ranking as the second-best city to rent an apartment in the U.S.
Juneau, Alaska
Annual Gross Rent: 17.45%
Juneau’s rental market presents challenges, with a median rent of $1,975 as of May 2025, slightly above the national average. The city offers a range of rental options, including 3-bedroom apartments averaging $1,975 per month.
The city is also experiencing a housing shortage exacerbated by nearly 400 registered short-term rentals, which reduce long-term rental availability. Demographic shifts, including an aging population and limited new housing development, further strain the market, impacting affordability for renters.
Anchorage, Alaska
Annual Gross Rent: 17.76%
Anchorage’s rental market reflects a Fair Market Rent (FMR) of $1,352 per month, according to the RentalData. The city’s also enhancing rental affordability through strategic initiatives. The Alaska Housing Finance Corporation (AHFC) has implemented programs like the Moving to Work (MTW) plan, which offers rental assistance and supports affordable housing development.
In FY2025, AHFC’s efforts have focused on expanding housing options and improving affordability for residents. These initiatives aim to provide sustainable housing solutions for Anchorage’s diverse population.
