{"id":78766,"date":"2024-10-30T05:00:57","date_gmt":"2024-10-30T12:00:57","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=78766"},"modified":"2024-10-29T14:06:26","modified_gmt":"2024-10-29T21:06:26","slug":"apartments-for-rent-under-1000","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/apartments-for-rent-under-1000\/","title":{"rendered":"Roughly One-Third of Renters Have an Apartment That Costs Less Than $1,000 a Month\u2014the Lowest Share on Record"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Renters are most likely to pay under $1,000 a month in Oklahoma City, New Orleans and Cleveland, and least likely in San Diego, San Jose and Washington, D.C.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>There are four metros where renters are more likely than they were pre-pandemic to pay under $1,000 a month: Baltimore, New Orleans, New York and Los Angeles.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>40% of renters that pay under $1,000 a month have lived in their apartment for five years or more\u2014a higher share than renters in all other price brackets.<\/i><\/strong><\/li>\n<\/ul>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Renters paying under $1,000 often stay put because moving would mean paying more; just 7.5% of apartment listings today have asking rents below $1,000.<\/i><\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Less than one-third (32.1%) of renter households pay under $1,000 in monthly rent\u2014the lowest share on record. That\u2019s down from 35.2% in 2022 and 50.4% in 2012.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The lion\u2019s share (47.9%) of renter households pay between $1,000 and $1,999, while 14.4% pay $2,000-$2,999 and 5.7% pay $3,000 or more.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-YBpT6\" style=\"border: none;\" title=\"Roughly 1 in 3 Renter Households Pay Under $1,000 in Rent\" src=\"https:\/\/datawrapper.dwcdn.net\/YBpT6\/7\/\" width=\"1000\" height=\"681\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">This is based on a Redfin analysis of U.S. Census Bureau data released this month. The most recent year for which the Census has data is 2023. We excluded 2020 because of data collection issues experienced by the Census during the pandemic. This report covers U.S. apartments in buildings with five or more units. Historical rents are inflation-adjusted to represent 2023 dollars.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Rents skyrocketed during the pandemic moving frenzy and then stabilized near their record high, which is why the share of rental listings under $1,000 has been shrinking. The median apartment asking rent now sits at <\/span><a href=\"https:\/\/www.redfin.com\/news\/rental-tracker-september-2024\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">$1,634<\/span><\/a><span style=\"font-weight: 400;\">, little changed from last year but up roughly 20% from before the pandemic.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cRising rents have made it increasingly difficult for people to find housing in America,\u201d said Redfin Senior Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Sheharyar Bokhari<\/span><\/a><span style=\"font-weight: 400;\">. \u201cLow-income workers, college students, immigrants and people on the fringes of homelessness have had to come up with new ways to be resourceful, with some taking on multiple roommates and others receiving <\/span><a href=\"https:\/\/www.redfin.com\/news\/homebuying-sacrifices-survey-2024\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">financial support<\/span><\/a><span style=\"font-weight: 400;\"> from family or friends.\u201d<\/span><\/p>\n<h3><b>Less Than 10% of Apartments on the Market Today Cost Under $1,000, Prompting Many Renters to Stay Put<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">While about one of every three renter households<\/span><i><span style=\"font-weight: 400;\"> pays <\/span><\/i><span style=\"font-weight: 400;\">less than $1,000 in monthly rent, as noted above, the share of apartments that are currently <\/span><i><span style=\"font-weight: 400;\">listed<\/span><\/i><span style=\"font-weight: 400;\"> for under $1,000 is much lower.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Roughly one of every thirteen (7.5%) apartments on the market has an asking rent below $1,000. The majority\u201463.7%\u2014cost between $1,000 and $1,999. Meanwhile, 22% are listed for $2,000-$2,999, and 6.9% are listed for $3,000 or more. That\u2019s based on listing data from Redfin.com and Rent.com covering the three months ending Sept. 30, 2024. Please note that the remainder of this report uses Census data through 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some renters who pay less than $1,000 a month are staying put because they <\/span><a href=\"https:\/\/www.redfin.com\/news\/renter-incomes-affordability-2024\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">don\u2019t make enough<\/span><\/a><span style=\"font-weight: 400;\"> money to afford the typical apartment on the market today. Many signed their leases years ago, when housing was more affordable. Property owners do often raise rents for existing tenants, but those increases are typically smaller than the increases they institute when looking for a new tenant.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Two of every five (40.2%) renter households paying under $1,000 a month have been in their apartment for five years or more, compared with 26.1% of renters paying $1,000-$1,999, 17.2% of renters paying $2,000-$2,999 and 15.6% of renters paying $3,000 or more.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-78767\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/five-years-1024x706.png\" alt=\"\" width=\"800\" height=\"551\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/five-years-1024x706.png 1024w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/five-years-300x207.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/five-years-768x529.png 768w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/five-years-1536x1059.png 1536w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/five-years-2048x1411.png 1742w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2024\/10\/five-years.png 1741w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<h3><\/h3>\n<h3><b>Renters in Oklahoma City, New Orleans and Cleveland Are Most Likely to Pay Under $1,000 a Month<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Nearly two-thirds (64.3%) of renter households in Oklahoma City pay less than $1,000 in monthly rent\u2014the highest share among the 50 most populous core-based statistical areas (CBSAs). Next come New Orleans (63.5%), Cleveland (63.4%), Louisville, KY (57.6%) and Pittsburgh (55.8%). There are four other metros where the majority of renters pay under $1,000: Buffalo, NY (55.2%), Cincinnati (54.9%), St. Louis (53.9%) and Memphis, TN (53.5%). Please note that we used the term \u201cCBSA\u201d and \u201cmetro area\u201d interchangeably throughout this report.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The aforementioned metro areas have among the lowest asking rents in the country, but it\u2019s worth noting that some have seen large increases lately\u2014likely because those low rents have fueled an uptick in demand. The median asking rent in Cleveland, for example, rose 11.1% year over year last month\u2014one of the largest jumps among the metros Redfin <\/span><a href=\"https:\/\/www.redfin.com\/news\/rental-tracker-september-2024\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">analyzed<\/span><\/a><span style=\"font-weight: 400;\">. Cincinnati and Louisville also saw sizable increases.\u00a0<\/span><\/p>\n<h3><b>Renters in California Are Least Likely to Pay Under $1,000 a Month<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nIn San Diego, just 7.1% of renter households pay less than $1,000 in monthly rent\u2014the lowest share among the 50 most populous metros. Next came San Jose, CA (7.8%), Washington, D.C. (8%), Denver (8.5%) and Austin, TX (9.1%). All are places that have either long been expensive or exploded in popularity in recent years, causing rents to rise.<\/span><\/p>\n<h3><b>There Are Four Metros Where Renters Are <\/b><b><i>More<\/i><\/b><b> Likely Than They Were Before the Pandemic to Pay Under $1,000 a Month\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nIn Baltimore, one-quarter (25.1%) of renter households pay less than $1,000 in monthly rent, <\/span><i><span style=\"font-weight: 400;\">up<\/span><\/i><span style=\"font-weight: 400;\"> from 21.6% in 2019\u2014the biggest increase among the metros Redfin analyzed. Three other metros saw increases: New Orleans (63.5% from 60.5%), New York (24.9% from 23.7%) and Los Angeles (13% from 12.3).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other end of the spectrum is Birmingham, AL, where 44% of renter households pay under $1,000. That\u2019s down from 61.7% in 2019\u2014the largest decline among the metros Redfin analyzed. Next came Phoenix (12.4% from 28.1%), Las Vegas (17.8% from 32.5%), Charlotte, NC (16.4% from 30.8%) and Richmond, VA (18.6% from 33%). <\/span><span style=\"font-weight: 400;\">Many of those metros, such as Phoenix, surged in popularity during the pandemic. That drove up demand for housing, and in turn, rents\u2014which is why they have seen large declines in the share of renters paying under $1,000.<\/span><\/p>\n<h3><b>Metro-Level Summary: Share of Renter Households Paying Under $1,000\/Month<\/b><\/h3>\n<p><i><span style=\"font-weight: 400;\"><br \/>\nThe table below includes the 50 most populous CBSAs.<\/span><\/i><\/p>\n\n<table id=\"tablepress-427\" class=\"tablepress tablepress-id-427\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\"><strong>U.S. metro area<\/strong><\/th><th class=\"column-2\"><strong>2023: Share of renter households paying under $1,000\/month<\/strong><\/th><th class=\"column-3\"><strong>2022: Share of renter households paying under $1,000\/month<\/strong><\/th><th class=\"column-4\"><strong>2019: Share of renter households paying under $1,000\/month<\/strong><\/th><th class=\"column-5\"><strong>2012: Share of renter households paying under $1,000\/month<\/strong><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\"><span style=\"color:#FF0000;\">National\u2014U.S.A.<\/span><\/td><td class=\"column-2\"><span style=\"color:#FF0000;\">32.1%<\/span><\/td><td class=\"column-3\"><span style=\"color:#FF0000;\">35.2%<\/span><\/td><td class=\"column-4\"><span style=\"color:#FF0000;\">37.0%<\/span><\/td><td class=\"column-5\"><span style=\"color:#FF0000;\">50.4%<\/span><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Atlanta, GA<\/td><td class=\"column-2\">13.7%<\/td><td class=\"column-3\">16.6%<\/td><td class=\"column-4\">22.3%<\/td><td class=\"column-5\">56.1%<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Austin, TX<\/td><td class=\"column-2\">9.1%<\/td><td class=\"column-3\">13.7%<\/td><td class=\"column-4\">13.3%<\/td><td class=\"column-5\">43.9%<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Baltimore, MD<\/td><td class=\"column-2\">25.1%<\/td><td class=\"column-3\">25.6%<\/td><td class=\"column-4\">21.6%<\/td><td class=\"column-5\">31.6%<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Birmingham, AL<\/td><td class=\"column-2\">44.0%<\/td><td class=\"column-3\">51.6%<\/td><td class=\"column-4\">61.7%<\/td><td class=\"column-5\">75.3%<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Boston, MA<\/td><td class=\"column-2\">22.8%<\/td><td class=\"column-3\">24.1%<\/td><td class=\"column-4\">25.0%<\/td><td class=\"column-5\">32.2%<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Buffalo, NY<\/td><td class=\"column-2\">55.2%<\/td><td class=\"column-3\">55.4%<\/td><td class=\"column-4\">59.1%<\/td><td class=\"column-5\">70.9%<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Charlotte, NC<\/td><td class=\"column-2\">16.4%<\/td><td class=\"column-3\">23.2%<\/td><td class=\"column-4\">30.8%<\/td><td class=\"column-5\">63.6%<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Chicago, IL<\/td><td class=\"column-2\">30.4%<\/td><td class=\"column-3\">34.5%<\/td><td class=\"column-4\">32.3%<\/td><td class=\"column-5\">42.8%<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">Cincinnati, OH<\/td><td class=\"column-2\">54.9%<\/td><td class=\"column-3\">62.7%<\/td><td class=\"column-4\">65.6%<\/td><td class=\"column-5\">80.0%<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">Cleveland, OH<\/td><td class=\"column-2\">63.4%<\/td><td class=\"column-3\">65.1%<\/td><td class=\"column-4\">70.2%<\/td><td class=\"column-5\">73.3%<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Columbus, OH<\/td><td class=\"column-2\">40.4%<\/td><td class=\"column-3\">45.1%<\/td><td class=\"column-4\">47.4%<\/td><td class=\"column-5\">74.4%<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Dallas, TX<\/td><td class=\"column-2\">14.7%<\/td><td class=\"column-3\">20.7%<\/td><td class=\"column-4\">26.2%<\/td><td class=\"column-5\">59.7%<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Denver, CO<\/td><td class=\"column-2\">8.5%<\/td><td class=\"column-3\">11.7%<\/td><td class=\"column-4\">12.9%<\/td><td class=\"column-5\">48.8%<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">Detroit, MI<\/td><td class=\"column-2\">49.3%<\/td><td class=\"column-3\">57.9%<\/td><td class=\"column-4\">57.5%<\/td><td class=\"column-5\">72.6%<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Hartford, CT<\/td><td class=\"column-2\">30.5%<\/td><td class=\"column-3\">39.4%<\/td><td class=\"column-4\">42.4%<\/td><td class=\"column-5\">47.6%<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Houston, TX<\/td><td class=\"column-2\">30.4%<\/td><td class=\"column-3\">35.2%<\/td><td class=\"column-4\">35.3%<\/td><td class=\"column-5\">59.2%<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Indianapolis, IN<\/td><td class=\"column-2\">46.7%<\/td><td class=\"column-3\">51.3%<\/td><td class=\"column-4\">53.7%<\/td><td class=\"column-5\">74.9%<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Jacksonville, FL<\/td><td class=\"column-2\">23.0%<\/td><td class=\"column-3\">25.5%<\/td><td class=\"column-4\">36.1%<\/td><td class=\"column-5\">55.4%<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Kansas City, MO<\/td><td class=\"column-2\">43.0%<\/td><td class=\"column-3\">48.8%<\/td><td class=\"column-4\">54.7%<\/td><td class=\"column-5\">71.0%<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Las Vegas, NV<\/td><td class=\"column-2\">17.8%<\/td><td class=\"column-3\">26.8%<\/td><td class=\"column-4\">32.5%<\/td><td class=\"column-5\">61.1%<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">Los Angeles, CA<\/td><td class=\"column-2\">13.0%<\/td><td class=\"column-3\">13.9%<\/td><td class=\"column-4\">12.3%<\/td><td class=\"column-5\">19.4%<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Louisville, KY<\/td><td class=\"column-2\">57.6%<\/td><td class=\"column-3\">60.3%<\/td><td class=\"column-4\">65.6%<\/td><td class=\"column-5\">79.0%<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Memphis, TN<\/td><td class=\"column-2\">53.5%<\/td><td class=\"column-3\">59.8%<\/td><td class=\"column-4\">63.0%<\/td><td class=\"column-5\">68.4%<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Miami, FL<\/td><td class=\"column-2\">10.4%<\/td><td class=\"column-3\">13.4%<\/td><td class=\"column-4\">14.0%<\/td><td class=\"column-5\">28.4%<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Milwaukee, WI<\/td><td class=\"column-2\">49.5%<\/td><td class=\"column-3\">54.4%<\/td><td class=\"column-4\">53.7%<\/td><td class=\"column-5\">61.8%<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">Minneapolis, MN<\/td><td class=\"column-2\">26.4%<\/td><td class=\"column-3\">29.1%<\/td><td class=\"column-4\">29.5%<\/td><td class=\"column-5\">51.2%<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">Nashville, TN<\/td><td class=\"column-2\">17.8%<\/td><td class=\"column-3\">23.6%<\/td><td class=\"column-4\">26.9%<\/td><td class=\"column-5\">66.7%<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">New Orleans, LA<\/td><td class=\"column-2\">63.5%<\/td><td class=\"column-3\">62.2%<\/td><td class=\"column-4\">60.5%<\/td><td class=\"column-5\">60.3%<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">New York, NY<\/td><td class=\"column-2\">24.9%<\/td><td class=\"column-3\">25.0%<\/td><td class=\"column-4\">23.7%<\/td><td class=\"column-5\">27.6%<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">Oklahoma City, OK<\/td><td class=\"column-2\">64.3%<\/td><td class=\"column-3\">71.7%<\/td><td class=\"column-4\">76.6%<\/td><td class=\"column-5\">76.6%<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">Orlando, FL<\/td><td class=\"column-2\">10.6%<\/td><td class=\"column-3\">14.2%<\/td><td class=\"column-4\">18.5%<\/td><td class=\"column-5\">49.2%<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">Philadelphia, PA<\/td><td class=\"column-2\">25.8%<\/td><td class=\"column-3\">28.2%<\/td><td class=\"column-4\">28.9%<\/td><td class=\"column-5\">36.5%<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">Phoenix, AZ<\/td><td class=\"column-2\">12.4%<\/td><td class=\"column-3\">15.6%<\/td><td class=\"column-4\">28.1%<\/td><td class=\"column-5\">60.7%<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">Pittsburgh, PA<\/td><td class=\"column-2\">55.8%<\/td><td class=\"column-3\">62.1%<\/td><td class=\"column-4\">59.5%<\/td><td class=\"column-5\">73.2%<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Portland, OR<\/td><td class=\"column-2\">15.4%<\/td><td class=\"column-3\">15.0%<\/td><td class=\"column-4\">16.4%<\/td><td class=\"column-5\">50.1%<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">Providence, RI<\/td><td class=\"column-2\">47.0%<\/td><td class=\"column-3\">53.0%<\/td><td class=\"column-4\">56.0%<\/td><td class=\"column-5\">65.7%<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">Raleigh, NC<\/td><td class=\"column-2\">14.6%<\/td><td class=\"column-3\">16.7%<\/td><td class=\"column-4\">24.0%<\/td><td class=\"column-5\">57.2%<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">Richmond, VA<\/td><td class=\"column-2\">18.6%<\/td><td class=\"column-3\">30.8%<\/td><td class=\"column-4\">33.0%<\/td><td class=\"column-5\">47.8%<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">Riverside, CA<\/td><td class=\"column-2\">21.7%<\/td><td class=\"column-3\">21.2%<\/td><td class=\"column-4\">23.3%<\/td><td class=\"column-5\">36.2%<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">Sacramento, CA<\/td><td class=\"column-2\">17.9%<\/td><td class=\"column-3\">21.8%<\/td><td class=\"column-4\">19.6%<\/td><td class=\"column-5\">47.6%<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">Salt Lake City, UT<\/td><td class=\"column-2\">18.0%<\/td><td class=\"column-3\">22.7%<\/td><td class=\"column-4\">25.2%<\/td><td class=\"column-5\">57.7%<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">San Antonio, TX<\/td><td class=\"column-2\">32.2%<\/td><td class=\"column-3\">40.4%<\/td><td class=\"column-4\">42.6%<\/td><td class=\"column-5\">65.6%<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">San Diego, CA<\/td><td class=\"column-2\">7.1%<\/td><td class=\"column-3\">9.1%<\/td><td class=\"column-4\">9.9%<\/td><td class=\"column-5\">12.9%<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">San Francisco, CA<\/td><td class=\"column-2\">15.0%<\/td><td class=\"column-3\">15.2%<\/td><td class=\"column-4\">16.6%<\/td><td class=\"column-5\">20.3%<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">San Jose, CA<\/td><td class=\"column-2\">7.8%<\/td><td class=\"column-3\">10.3%<\/td><td class=\"column-4\">8.2%<\/td><td class=\"column-5\">12.3%<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">Seattle, WA<\/td><td class=\"column-2\">11.6%<\/td><td class=\"column-3\">11.2%<\/td><td class=\"column-4\">12.9%<\/td><td class=\"column-5\">31.7%<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">St. Louis, MO<\/td><td class=\"column-2\">53.9%<\/td><td class=\"column-3\">60.3%<\/td><td class=\"column-4\">62.4%<\/td><td class=\"column-5\">71.9%<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">Tampa, FL<\/td><td class=\"column-2\">15.1%<\/td><td class=\"column-3\">21.4%<\/td><td class=\"column-4\">28.1%<\/td><td class=\"column-5\">51.9%<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">Virginia Beach, VA<\/td><td class=\"column-2\">29.3%<\/td><td class=\"column-3\">30.6%<\/td><td class=\"column-4\">36.6%<\/td><td class=\"column-5\">36.4%<\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">Washington, D.C.<\/td><td class=\"column-2\">8.0%<\/td><td class=\"column-3\">9.0%<\/td><td class=\"column-4\">10.4%<\/td><td class=\"column-5\">11.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-427 from cache -->\n<h3><b>Methodology<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><br \/>\nData on the share of rental housing by price point and length of stay comes from a Redfin analysis of self-reported contract rents in the U.S. Census Bureau\u2019s 2012-2023 American Community Surveys (ACS*) for units in apartment buildings with five or more units. We excluded 2020 data due to issues with data collection during the pandemic. We also inflation-adjusted rents to reflect values in 2023 dollars, the most recent year for which Census data is available.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The data on the share of rental <\/span><i><span style=\"font-weight: 400;\">listings<\/span><\/i><span style=\"font-weight: 400;\"> by price point comes from Redfin.com and Rent.com and covers units in apartment buildings with five or more units. This data is based on asking rents.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All metro-level data covers core-based statistical areas (CBSAs)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">*ACS data was retrieved from IPUMS USA:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Steven Ruggles, Sarah Flood, Matthew Sobek, Daniel Backman, Annie Chen, Grace Cooper, Stephanie Richards, Renae Rodgers, and Megan Schouweiler. IPUMS USA: Version 15.0 [dataset]. Minneapolis, MN: IPUMS, 2024. https:\/\/doi.org\/10.18128\/D010.V15.0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Renters are most likely to pay under $1,000 a month in Oklahoma City, New Orleans and Cleveland, and least likely in San Diego, San Jose and Washington, D.C. There are four metros where renters are more likely than they were pre-pandemic to pay under $1,000 a month: Baltimore, New Orleans, New York and Los Angeles. [&hellip;]<\/p>\n","protected":false},"author":13346,"featured_media":78768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[563],"tags":[20,623,697],"coauthors":[125,115],"class_list":["post-78766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rental-market","tag-housing-affordability","tag-national","tag-rentals"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>32% of Renters Have an Apartment That Costs Under $1,000 a Month<\/title>\n<meta name=\"description\" content=\"That&#039;s a record low. Renters are most likely to pay under $1,000 a month in Oklahoma City, New Orleans and Cleveland.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/apartments-for-rent-under-1000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Roughly One-Third of Renters Have an Apartment That Costs Less Than $1,000 a Month\u2014the Lowest Share on Record\" \/>\n<meta property=\"og:description\" content=\"That&#039;s a record low. 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