The three most important factors when looking for a new home are famously location, location, location. However, renters can only choose a home in their desired location if they can afford the rent, rent, rent.
It goes without saying that some cities across the U.S. are known for much more expensive rent than others — but which cities are the cheapest for renters? A new report by WalletHub took ranked some of the biggest cities in the U.S. based on rent affordability, and Midwestern cities came out on top. Read on for a look into the findings.
The Cheapest Cities for Renting Homes in 2026 Are in the Midwest
For this report, WalletHub analyzed data from 182 major U.S. cities (the 150 cities with the highest populations, plus at least two highly-populated cities from each state). WalletHub then compared each city’s median annual gross rent to its median annual household income to determine which cities had the most affordable rent as a percentage of their income — so basically, the cities at the top of the list have both cheap rent prices and high salaries.
Coming in at the No. 1 is Bismarck, the capital city of North Dakota. In Bismarck, the median annual gross rent is about 15.3 percent of the median annual income…