Renters on a $1,500 per-month budget will get the most apartment space for their money in Wichita, Kansas, and Toledo, Ohio, according to an annual analysis from RentCafe. That same amount isn’t even enough to rent a studio in Manhattan, Brooklyn and Boston, according to the report.
Overall, renters in Midwestern and Sun Belt cities will get the most space for their rental dollar. Southern cities take 12 of the top 20 spots among cities offering the most square footage for $1,500, with the remaining eight cities in the Midwest. In almost all of the top 20 markets, renters can get at least 1,000 square feet of space for $1,500 per month, which is less than the average national rent of $1,749.
On average, renters can get 715 square feet of space across the country on a $1,500 monthly budget, with those in major coastal cities like New York, Boston, San Francisco and Jersey City, New Jersey getting the least amount of space for their rental dollar. California is home to 32 out of the top 50 cities with the least apartment space.
In Wichita, Kansas’ largest city, a three- or four-bedroom apartment can be had $1,500 per month, while Toledo renters can get 1,268 square feet for the same amount. Oklahoma City and Tulsa are next on the list, with $1,500 fetching 1,247 and 1,231 square feet, respectively. This is typically a roomy three-bedroom apartment, said RentCafe.
Lubbock, Texas, placed fifth on the list, offering 1,230 square feet of space on a $1,500 monthly budget. Other notable markets where a $1,500 budget stretches the most are Memphis, where renters can get 1,229 square feet, Baton Rouge, Louisiana, El Paso and Corpus Christi, Texas, where renters can get 1,100 square feet, and Greensboro, North Carolina, where $1,500 can afford a 1,086 square foot apartment. Greensboro has been ascending in RentCafe’s ranking as construction activity in the area has increased.
Meanwhile, Manhattan offers the least amount of apartment square footage for a $1,500 budget, only 216 square feet. Essentially, renters with a fixed budget of $1,500 can’t get a studio apartment in New York City’s busiest borough, said the report. Renters in Brooklyn can get about 300 square feet for $1,500, and in Queens, they can get 354 square feet. Boston renters can get 311 square feet on a $1,500 budget, which is typically insufficient for a studio, and renters in Jersey City can get 331 square feet for $1,500.
On the West Coast, those in San Francisco, Los Angeles, San Jose, Irvine and San Diego can get a studio or one-bedroom apartment for $1,500. In San Francisco, renters are likely to find about 325 square feet on that budget, while those in San Diego may find a more generous 439 square feet for $1,500 per month.
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