Housing is one of the crucial social problems in urban areas, such as New York, San Francisco, and Chicago. The price of properties either for rent or sale. For some people, especially those who have a limited budget, owning a house is not a big problem. For those with a low budget, renting a house is the only way to get a house. You can get some advantages of renting a house than just get a place to live in that you could not afford to buy. For example, you can save some money to own a house while watching from the sideline as the sale market stabilized. You are not responsible for the maintenance of the unit. This kind of situation is the gain for renter as they can get cheap houses for rent, but it is pain for landlords or sellers since they cannot make more money from their real estate business.
The first thing you need to know before searching for cheap houses for rent near you is the median prices of houses for rent as the objective referent number. According to a report released recently by Zillow, a real estate website, the median prices of houses for rent in the USA is $1,442 per month. So, only houses that cost not more than $1,442 are recommended houses for rent. However, it is important to know that the above median prices are not static; it can go up and down month by month. Fortunately, there are some cities with the median prices less than $1,000 or sometimes you can even find it around $900 a month. In those cities, you can find many houses for that costs less than $700, but of course with minimal facilities too.
If you are searching for cheap houses for rent, Columbus is the best-recommended place to include on your top list. In this city, the median in December 2020 was $650, down slightly from the previous month. However, year over year rental rates have increased 8.3% in this city, so get your unit in while you can. With such a price, you can get a one-bedroom apartment conveniently located near downtown and shopping centers for $597 a month. The unit has hardwood floors and modern updates. However, houses for rent prices vary from $500 per month to more than $1,200 per month. It will depend on the size and location of the house. With the subprime crisis in some regions such as Las Vegas, Palm Beach, and St, Petersburg, houses for rent prices dropped so drastically that they are the cheapest among other states in the US.
Another city to find cheap houses for rent in Memphis city. In Memphis, you can rent an apartment for $650 per month, on average, but that’s over an 8% increase since 2019. Upgrading to a two-bedroom unit won’t cost you that much more, either. Those go for an average of $700 a month. With that price, you can get a single-bedroom regular unit near downtown. The apartment is very close to bars, restaurants, and some of them also come with your own fireplaces and other amenities. It can be much suitable for younger people to live in that love to invite their friends to hang out at their place.