Apartments.com Reveals What $1,000 A Month Will Rent You
Apartments.com Compared Rental Prices from Across the Country to Find Where Renters Can Get the Best Bang for Their Buck
CHICAGO, March 7, 2013 /PRNewswire/ -- 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.
"When it comes to big cities, only about half of the top 20 most searched U.S. markets on our website have apartments available that fall within an average monthly rent of $1,000 or less," said Tammy Kotula, public relations manager Apartments.com. "When searching for an apartment, it can often be useful to cast a wider net; exploring smaller cities and niche neighborhoods within those large markets."
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 2012 to January 2013, eliminating areas where the average monthly rent exceeded $1,000 a month.
About Apartments.com
Apartments.com (http://www.apartments.com) is a leading national apartment Internet listing subscription service with more than 50,000 unique addresses representing millions of rental units from managed properties, newspaper classifieds and for-rent-by-owner properties. By incorporating the most relevant products to reach renters including personalized searches and highly visual ads featuring live chat, real-time rent, online video walk-through demonstrations, professional photography, a mobile website and iPhone and Android apps, Apartments.com creates easy access to its listings. Providing unmatched exposure to its advertisers through an intuitive name, strategic search engine placements and featured partnerships and more than 120 newspaper websites and innovative emerging media, Apartments.com reaches millions of renters nationwide, driving both qualified traffic and highly-engaged renters to leasing offices nationwide. Apartments.com is a division of Chicago-based Classified Ventures, LLC. The Apartments.com network of apartment rental websites includes Apartment Home Living (http://www.apartmenthomeliving.com), a leading social media apartment website distinguished by a "live for fun" community experience, proprietary lifestyle matching and local living guides to help renters find their perfect place to live; Rental Homes Plus (http://www.rentalhomesplus.com), an online destination where house hunters who prefer to rent can choose from a robust inventory of houses, condos, town houses, duplexes and apartments from around the country; and Rentfish (http://www.rentfish.com), a national apartment website offering customizable searches by neighborhood, favorite coffee spot, sports arena, famous landmark and more.
SOURCE Apartments.com
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