Spend

Rental prices dropped for the first time in 2 years—here are 13 cities where you can rent for less than average

Woman eating pizza on her kitchen counter in a rustic apartment.
Getty | Maica

When it comes to renting an apartment in a metropolitan area, there's rarely good news about the price. However, last month, the national average rent decreased for the first time in two years.

That's according to apartment listing site Rent Cafe's September 2019 Apartment Market Report, which found that the national average dropped 0.1% to $1,471 from August. National rents also saw the slowest year over year growth (3.2%) in 13 months.

While small, the decrease could be a good sign for renters: It may signal slightly lower rent prices going forward, according to data from real estate intelligence source Yardi Matrix.

That's true even in major cities: "Since last month, apartment rents saw minor declines in more than half of the cities we analyzed," the report says. "Small and large cities lead the trend, with prices dropping in 59% of small cities and 56% of large cities."

If you are looking to find more affordable rent in a major metro area, it's possible. Here are 13 cities where the average apartment rent sits below the national average of $1,471 per month, according to the Rent Cafe report.

13. Orlando, Florida

Average rent for September 2019: $1,436

Orlando, Florida.
Gina Pricope | Moment | Getty Images

12. Austin, Texas

Average rent for September 2019: $1,433

11. Tampa, Florida

Average rent for September 2019: $1,320

10. Charlotte, North Carolina

Average rent for September 2019: $1,243

9. Dallas, Texas

Average rent for September 2019: $1,235

Dallas, Texas.
joe daniel price | Moment | Getty Images

8. Fort Worth, Texas

Average rent for September 2019: $1,129

7. Las Vegas, Nevada

Average rent for September 2019: $1,104

6. Houston, Texas

Average rent for September 2019: $1,101

5. Jacksonville, Florida

Average rent for September 2019: $1,091

4. Phoenix, Arizona

Average rent for September 2019: $1,085

Phoenix, Arizona.
Dennis Macdonald | Getty Images

3. San Antonio, Texas

Average rent for September 2019: $1,045

2. Columbus, Ohio

Average rent for September 2019: $947

1. Indianapolis, Indiana

Average rent for September 2019: $878

Downtown Indianapolis
Education Images | UIG | Getty Images

Lower rent tends toward the southern half of the country and isn't typically found in larger, more coastal metropolitan areas, such as New York City or San Francisco.

During the first half of 2019, rent was highest in Manhattan, where the average monthly rent reached $4,190, according to the 2019 Mid-Year Rent Report from Rent Cafe. During that same period, Oklahoma City, Oklahoma, was named the most affordable large city to rent in, at $769 per month on average.

Location matters when you're trying to stick to a budget and cut back on living costs. To figure out where to live and how to get the most for your money, you can also check out ways to negotiate your rent (and potentially save thousands), the best cities for millennials and this helpful map that compares the price of renting versus buying a home by state.

Like this story? Subscribe to CNBC Make It on YouTube!

Don't miss: Here's how long it takes to save up for a home on a normal person's salary in 10 big US cities

VIDEO0:5500:55
Inside Jackie Kennedy & Aristotle Onassis' former yacht, renting at $627,505 a week
make it

Stay in the loop

Sign Up

About Us

Learn More

Follow Us

CNBC.COM