When it comes to renting an apartment in a metropolitan area, there is rarely good news about price. However, last month the national average rent fell for the first time in two years.
That’s according to apartment listing site Rent Cafe’s September 2019 apartment market report, which found the national average fell 0.1% to $1,471 from August. . National rents also saw the lowest year-over-year growth (3.2%) in 13 months.
Although small, the drop could be a good sign for renters: it could signal a slight drop in rental prices in the future, according to data from real estate intelligence source Yardi Matrix.
That’s true even in major cities: “Since last month, apartment rents have seen minor declines in more than half of the cities we analyzed,” the report says. “Small and large cities lead the trend, with prices falling in 59% of small towns and 56% of large cities.”
If you are looking to find more affordable rent in a major metropolitan area, it is possible. Here are 13 cities where the average apartment rent is below the national average of $1,471 per month, according to the Rent Cafe report.
13. Orlando, Florida
Average rent for September 2019: $1,436
12. Austin, TX
Average rent for September 2019: $1,433
11. Tampa, Florida
Average rent for September 2019: $1,320
10. Charlotte, North Carolina
Average rent for September 2019: $1,243
9. Dallas, TX
Average rent for September 2019: $1,235
8. Fort Worth, TX
Average rent for September 2019: $1,129
7. Las Vegas, Nevada
Average rent for September 2019: $1,104
Average rent for September 2019: $1,101
5. Jacksonville, Florida
Average rent for September 2019: $1,091
4. Phoenix, Arizona
Average rent for September 2019: $1,085
3. San Antonio, TX
Average rent for September 2019: $1,045
Average rent for September 2019: $947
1. Indianapolis, Indiana
Average rent for September 2019: $878
Lower rents tend towards the southern half of the country and are generally not found in larger, more coastal metropolitan areas, such as New York or San Francisco.
During the first half of 2019, rent was highest in Manhattan, where the average monthly rent reached $4,190, according to Rent Cafe’s 2019 Mid-Year Rent Report. During that same period, Oklahoma City, Oklahoma was named the most affordable major city to rent, at $769 per month on average.
Location matters when trying to stick to a budget and keep the cost of living down. For tips on where to live and how to get the most for your money, you can also check out ways to negotiate your rent (and potentially save thousands of dollars), the best cities for millennials, and this helpful map that compares the price of renting versus buying. a house by the state.
Do you like this story? Subscribe to CNBC Make It on YouTube!
Don’t miss: Here’s how long it takes to save for a house on a normal person’s salary in 10 major US cities