Cities in the South and Midwest offer tenants the most apartment space for the money, with Wichita, Kansas leading the list of cities where you can rent the largest apartments on a budget of $1,500, RentCafe says in a new study.
“We analyzed apartment rent prices and apartment sizes from sister company Yardi Matrix in the 100 largest U.S. cities,” RentCafe says in the report.
Urban areas on the coasts typically offer much smaller space for higher rent amounts.
Here is what $1,500 will get for a tenant in some areas:
- Wichita leads the list of the largest apartments for the given amount. Renters there can get 1,597 square feet, which is the equivalent of a four-bedroom apartment.
- At the other end of the spectrum are the coastal cities, where 11 California cities made it in the Top 20 with the least apartment space on this budget. In San Francisco, $1,500 can get 345 sq. ft. while in Manhattan, this amount is not even enough for 300 sq. ft.
- At the very middle of the Top 100 is Dallas, at No. 50 with an average apartment size of 881 sq. ft. for $1,500. “That’s slightly larger than the average one-bedroom apartment, and we’ve even seen two-bedroom ones at this size,” the report says.
- Suburbs surrounding large metro areas offer the most space for the given budget.
- Certain states count several cities in the top 20 with the largest apartment sizes for $1,500. Texas is represented by Lubbock, El Paso, and Corpus Christi. Meanwhile, Oklahoma’s Tulsa and Oklahoma City rank 3rd and 4th, respectively. Ohio has Toledo and Columbus.
RentCafé is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. The apartment space you can rent for a monthly budget of $1,500 was calculated using price per square foot derived from the average rents and average size of apartments by city, in multifamily properties of 50 or more units, using Yardi Matrix data.
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