Real Estate

Best location to find affordable homes for rent

It is the dream of every person to find a comfortable place to live in. However, it is crucial to find your comfort at an affordable rate. Factors to consider when looking at homes for rent include the cost of living, access to job opportunities, one’s desires, affordability, earnings as well as access to amenities such as schools, healthcare, and transport. The most affordable homes for rent are found located in areas where the rent is lower than the national median.

Affordable housing should also enable you to experience your desired quality of life. So make sure you analyze factors that will help you get the accurate depiction of areas in the country where you can get houses for rent by the owner. Research indicates that houses currently on the market within the country have a median value of around $261,500. Analysis of the median monthly rental value of homes for rent is placed at just about $1,600. This means that the cities regarded as the best places to live should possess homes for rent whose rental value per month is below $1,600. Most tenants prefer renting houses where they can directly interact with the owner. This helps in developing a clear understanding between the owner and the tenant on the terms of renting the home.

Renting a home in the country at affordable prices
The top five cities having the best cost-effective rent rates include the following:

  • Austin in Texas has over 50 new residents daily seeking to experience the city’s culture and external spaces. It has a value index of 7.1.
  • Colorado Springs has a location advantage. Being within the proximity of ski resorts and having quality schools and residencies in the locality, it ranks second with a value index of 7.2.
  • Des Moines has hip bars and historical neighborhoods, which are an attraction to the millennial seeking quite vicinities. Its value index is 8.5 and it has a median monthly rent of about $895.
  • Minneapolis has big city amenities with varied entertainment through all seasons. Its value index is 7.9 and its median monthly rent stands around $963.
  • Nashville, Tennessee, boasts of plenty job opportunities and a variety of entertainment. It has a value index of 7.3.

So the next time you are on the lookout for a budget-friendly rental home in the country, do visit the aforementioned areas to win a deal.