15 Cities Where You Can Find a Rental Below $1,500 a Month

Believe it or not, there are still plenty of places where you can live for less than $1,500 a month.

Fifteen cities have median rental listings below $1,500 a month, and in several, those rents remain below $1,300, according to the latest rental report from Realtor.com®.

The September rental report shows the median rent among the 50 largest metros is $1,743, down $10 month over month and $17 from its peak of $1,779 in August 2022.

Every apartment category—from studios to two-bedrooms—saw price declines. The median price of a studio is now $1,442, down $34 year over year, while the median price for a one-bedroom apartment decreased by $8, to $1,623, and the average price of a two-bedroom—$1,930—also decreased by $8.

“With new rental constructions continuing to work through the pipeline, national rent has been cooling down,” says Realtor.com economist Jiayi Xu.

However, rents are still up 19.6% from pre-COVID-19 pandemic levels. Median rents are $286 higher than in 2019, though this is “roughly on par with what has occurred in overall consumer prices, which are up 22.7% over the last five years,” says Xu.

But those increases are nothing compared with how home purchase prices have shot up. Since 2019, there’s been a 50.8% increase in the median price per square foot of for-sale home listings.

The most affordable markets are in the South and Midwest, says Xu, “where you can find not only better rent prices but also strong job opportunities.”

Many cities on the list have seen negative rental price growth, though Cincinnati, Oklahoma City, OK, and St. Louis saw median monthly rents increase by 1.9% or more. Even so, median rent prices in these cities remain below $1,500 a month, a sign that those markets remain competitive but affordable.

Below are the top 15 metros with rentals for less than $1,500 a month: