15 Cheapest US Cities To Live In For Single Renters

With the soaring inflation affecting basic commodities and housing prices here and there, you might consider moving to cities with cheaper rent to soften the blow even by a bit.

Online brokerage RentHop studied the housing affordability for single-people households by looking at the cost of rent of studio apartments in each city, how rents have changed and whether living alone is affordable given the average local income.

The study named Albuquerque, NM; Wichita, KS; Minneapolis, MN; Seattle, WA; and Colorado Springs, CO as the five most affordable cities for singles based on how much income the rent consumes for single people.

To give more insight, here are the Top 15 most affordable cities in the United States for singles:

1. Albuquerque, New Mexico

The city topped the list because of its cheap housing combined with strong average local income, according to RentHop. The median rent for a studio is $700 per month. With the average income sitting at $54,804, the rent eats only 15.3% of an individual's income.

2. Wichita, Kansas

Rental prices across the city remain cheap at an average of $595 per month. With local income hitting $44,509, a single person can only pay 16.04% of their annual income toward housing.

3. Minneapolis, Minnesota

Minneapolis has an average local income of $72,359, higher than Albuquerque and Wichita. The average rent in the city is $990 for a studio, meaning only 16.4% of an individual's income gets eaten per year.

4. Seattle, Washington

While studios are relatively pricey at $1,479 per month, the average local income of $106,369 only puts rent at 16.7% of an individual's income in the city.

5. Colorado Springs, Colorado

Studio apartments in this city stand at only $925 per month, alongside a median income of $64,479 for singles.

Meanwhile, the ten other cities completing the top 15 affordable housing list are the following:

6. Columbus, Ohio - $849 average rent (17.2% of $59,241 average local income)
7. Kansas City, Kansas - $850 average rent (17.3% of $58,980 average local income)
8. Milwaukee, Wisconsin - $785 average rent (17.8% of $52,789 average local income)
9. El Paso, Texas - $675 average rent (18% of $44,930 average local income)
10. Fresno, California - $900 average rent (18.6% of $58,043 average local income)
11. Omaha, Nebraska - $845 average rent (18.9% of $53,701 average local income)
12. Tulsa, Oklahoma - $800 average rent (19.1% of $50,312 average local income)
13. Tucson, Arizona - $750 average rent (19.2% of $46,880 average local income)
14. Denver, Colorado - $1,400 average rent (19.6% of $85,674 average local income)
15. Arlington, Virginia - $875 average rent (19.9% of $52,706 average local income)

The housing costs in the 15 states are already pretty good, according to a CNBC report. Financial experts recommend aiming to spend 30% or less on housing costs.

In contrast to affordability, New York City ranked as the least affordable place to live for singles since the cost of a studio apartment in the city shares almost 44% of the average income.