Affordable Housing Options in the US

Rent prices continue to surge in some markets. However, affordable options still exist in certain parts of the country, with some units going for under $1,000, according to a recent report from Zillow.

In Zillow’s recent analysis, published Thursday, apartments under $1,000 a month, while scarce, are easier to find in parts of the South and Midwest. Thirteen metros have more than one-third of apartments renting for less than $1,000 per month.

However, that’s out of 100 metros, equating to about 13% of the metros tracked by Zillow for the report.

The State of the Housing Market

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It’s a bright spot for homeowners who have been sidelined from the market due to persisting affordability issues. Although housing price growth has cooled since its surge during the early days of the pandemic, mortgage costs are still more than double what they were in 2019. Rent on a typical apartment is also up nearly 40% during that same period, underscoring the pressure both renters and homeowners are facing.

Today’s renters would need to set aside 5% of their income for almost nine years just to afford a 10% down payment on a typical home, which is up from 7.4% since 2019.

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Affordability and Financial Health

“It’s no secret that rents and home prices have sprinted ahead of incomes. For many renters, that makes saving for a down payment feel out of reach,” Zillow Senior Economist Kara Ng said in a statement. Ng explained that moving to a more affordable area can really boost someone’s long-term financial health, and help them save for a future home.

Boston, MA – September 12: A “For Rent” sign on an apartment building in the Mission Hill neighborhood on September 12, 2025. (Photo by David L. Ryan/The Boston Globe via Getty Images)

Top Affordable Metros

Wichita, Kansas, had the highest share of apartment listings with monthly rent under $1,000. About 54% of the apartments in the area were priced below the $1,000 mark. McAllen, Texas, came in at a close second with just over follows at just over 50% of apartments being listed for under $1,000 per month.

Here are the top five metros with the most apartments under $1,000 per month:

1. Wichita, Kansas : 54%

2. McAllen, Texas : Just over 50%

3. Little Rock, Arkansas: 49%

4. Toledo, Ohio: 46%

5. Oklahoma City, Oklahoma: 42%

Least Affordable Metros

Comparatively, these low-cost options are far and few between in areas such as Boston, Miami, Washington, D.C., North Port, Florida, Charleston, South Carolina, and Cape Coral, Florida.

All the aforementioned metros have fewer than 1.8% of listings renting for less than $1,000, according to the Zillow report.

Conclusion

The US housing market continues to face affordability issues, with rent prices surging in some areas. However, there are still affordable options available in certain parts of the country, particularly in the South and Midwest. By considering these options, individuals can improve their long-term financial health and work towards saving for a future home.

Frequently Asked Questions

Q: What is the current state of the US housing market?

A: The US housing market is facing affordability issues, with rent prices surging in some areas. However, there are still affordable options available in certain parts of the country.

Q: Which cities have the most affordable housing options?

A: According to Zillow, the top five metros with the most apartments under $1,000 per month are Wichita, Kansas; McAllen, Texas; Little Rock, Arkansas; Toledo, Ohio; and Oklahoma City, Oklahoma.

Q: How can individuals improve their financial health in the current housing market?

A: By considering affordable housing options and moving to a more affordable area, individuals can improve their long-term financial health and work towards saving for a future home.

Q: What is the average rent price in the US?

A: According to Zillow, the average rent price in the US is up nearly 40% since 2019.

Q: How long would it take for a renter to save for a down payment on a typical home?

A: Today’s renters would need to set aside 5% of their income for almost nine years just to afford a 10% down payment on a typical home.