A recent Apartments.com rent analysis found the old real estate motto of "location, location, location" also rings true in the rental industry. Data from the top 100 most searched markets on Apartments.com were compared to find what renters can get for $1,000 in various cities across the country. Research shows that rent not only varies greatly across state and city lines, but also from neighborhood to neighborhood.
Popular Markets
In these sought-after cities, $1000 a month will cover the cost of rent for a studio apartment, which is better than what can be had in other popular locations, including New York, Los Angeles, San Francisco, Chicago, Boston and Washington, DC—none of which made this list of $1,000 or less.
- Providence, RI $989
- Portland, OR $959
- Atlanta, GA $949
- Austin, TX $930
- Philadelphia, PA $928
Neighborhoods
Maybe renters cannot get an apartment in the hearts of most big cities for less than a grand, but there are a lot of great surrounding areas and up-and-coming neighborhoods with average monthly rents less than $1,000 worth considering.
- Boston: South End $696 (Studio)
- Boston: Burlington $924 (Studio)
- Chicago: Logan Square/Bucktown $743 (1 BR)
- Chicago: Edgewater $968 (1 BR)
- Los Angeles: El Segundo $696 (Studio)
- Los Angeles: San Fernando/Pacoima $819 (Studio)
- New York: Baychester/Parkchester $900 (Studio)
- New York: Riverhead $698 (Studio)
- Washington DC: Southeast DC $848 (1 BR)
- Washington DC: Deanwood $945 (2 BR)
Best Deals
If renters crave space, or are searching for a rental large enough for a family, here are the markets where they can spread out while remaining reined in fiscally!
- Wausau/Rinelander, WI $ 727 (3 BR)
- Dayton, OH $ 780 (3 BR)
- Springfield, MO $ 792 (3 BR)
- Nashville, TN $ 949 (4 BR)
- Phoenix, AZ $ 972 (4 BR)
Comparing State Capitals
If lifestyle or career takes renters to a capital city, they're in luck! Many offer good rental options within the range of $1,000 a month. However, not all capitals are created equal when it comes to the cost of rent. While a studio in Austin, TX averages $930 a month, a three bedroom in Lansing, MI is just $916.
- Lansing, MI $916 (3 BR)
- Madison, WI $900 (1 BR)
- Tallahassee, FL $826 (3 BR)
- Minneapolis/St. Paul, MN $798 (Studio)
- Austin, TX $930 (Studio)
- Sacramento, CA $949 (2 BR)
- Harrisburg, PA $990 (2 BR)
- Phoenix, AZ $972 (4 BR)
College Towns
College towns offer job opportunities and culture that have great appeal to renters, even after their academic pursuits. These cities that are home to colleges offer reasonable rental options within the budget of $1,000 a month, ranging from studios to three bedroom apartments.
- Hartford/New Haven, CT $846 (Studio)
- Nashville, TN $916 (1 BR)
- Raleigh-Durham, NC $851 (1 BR)
- St. Louis, MO $839 (1 BR)
- Knoxville, TN $998 (3 BR)
- Gainesville, FL $884 (3 BR)
Methodology
Apartments.com compiled average rent prices for the top 100 most searched rental markets on Apartments.com from January 2012to January 2013, eliminating areas where the average monthly rent exceeded $1,000 a month.
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