Renters can afford to live alone in these cities in 2021: report
Cincinnati topped SmartAsset’s list for the fourth year in a row
If you’re looking to find a place where you can live alone, you might want to consider Cincinnati.
That’s according to SmartAsset, which this week published its annual report on cities where renters can afford to live alone.
Cincinnati was the top city on SmartAsset’s list for the fourth year in a row. In fact, the report found that seven other cities also ranked in SmartAsset’s top 10 list for at least the second year in a row.
THE BEST CITIES FOR RENTERS IN 2021: REPORT
SmartAsset found that Cincinnati is the top city where renters can afford to live alone this year. 2021 is the fourth consecutive year that Cincinnati has topped SmartAsset’s list. (iStock)
SmartAsset ranked the most affordable cities for renters to live alone by analyzing the 100 largest U.S. cities based on five metrics, including the average rent for a unit with fewer than two bedrooms, the percentage of housing units with fewer than two bedrooms, median earnings for full-time workers, cost of living and April 2021 unemployment rate.
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Among the top 10 ranking, SmartAsset also found that Nebraska and Kentucky were the best states for solo renters because both states had two cities on the top 10 list.
Here are the 10 best cities where renters can afford to live alone in 2021, according to SmartAsset.
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Top 10 cities where renters can afford to live alone
1. Cincinnati
Average monthly rent: $612
Percentage of homes with fewer than two bedrooms: 28.13%
Median earnings for full-time workers: $46,952
Annual cost of living: $22,721
April 2021 unemployment rate: 4.6%
2. Minneapolis
Average monthly rent: $893
Percentage of homes with fewer than two bedrooms: 32.21%
Median earnings for full-time workers: $56,459
Annual cost of living: $25,720
April 2021 unemployment rate: 4.2%
3. Omaha, Nebraska
Average monthly rent: $781
Percentage of homes with fewer than two bedrooms: 17.84%
Median earnings for full-time workers: $47,229
Annual cost of living: $23,767
April 2021 unemployment rate: 3.0%
4. St. Louis
Average monthly rent: $727
Percentage of homes with fewer than two bedrooms: 30.97%
Median earnings for full-time workers: $46,756
Annual cost of living: $23,462
April 2021 unemployment rate: 6.2%
5. Lexington, Kentucky
Average monthly rent: $680
Percentage of homes with fewer than two bedrooms: 15.16%
Median earnings for full-time workers: $46,431
Annual cost of living: $23,163
April 2021 unemployment rate: 3.2%
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6. Lincoln, Nebraska
Average monthly rent: $759
Percentage of home with fewer than two bedrooms: 16.27%
Median earnings for full-time workers: $44,601
Annual cost of living: $23,419
April 2021 unemployment rate: 2.2%
7. Pittsburgh
Average monthly rent: $887
Percentage of homes with fewer than two bedrooms: 26.32%
Median earnings for full-time workers: $51,328
Annual cost of living: $23,463
April 2021 unemployment rate: 6.0%
8. (TIE) Louisville, Kentucky
Average monthly rent: $676
Percentage of homes with fewer than two bedrooms: 15.94%
Median earnings for full-time workers: $45,417
Annual cost of living: $23,367
April 2021 unemployment rate: 4.1%
8. (TIE) Tulsa, Oklahoma
Average monthly rent: $658
Percentage of homes with fewer than two bedrooms: 18.57%
Median earnings for full-time workers: $41,302
Annual cost of living: $22,786
April 2021 unemployment rate: 4.5%
10. Boise, Idaho
Average monthly rent: $755
Percentage of homes with fewer than two bedrooms: 10.92%
Median earnings for full-time workers: $48,273
Annual cost of living: $23,123
April 2021 unemployment rate: 3.0%