The Cheapest Neighborhoods in the 50 Biggest US Cities
Life in a big city is fast becoming downright impossible for anyone who's not very well off. The cost of housing alone can make the prospects of living in one of America's most populous urban centers a pipe dream. The average rent on a one-bedroom apartment in New York City right now comes to $2,333 — meaning someone looking to live alone and spend less than a third of their income on rent would need to make nearly $90,000 a year. And of course, they've got it easy compared to residents of San Francisco, where the average rent on a one-bedroom is a mind-boggling $3,612.
Read: 35 Surprising Cities With Low Costs of Living
Do Your Research: What Homes Will Be Worth in Your State by the End of 2021
However, while a city's average rent gives a clear overview, it's not necessarily the reality for every resident. While some might choose to pay more for higher-end places in fancier districts, there's also typically going to be places where housing prices are below average. Meaning that, should you find the right neighborhood, you might be able to carve out a corner of the city where your housing costs align with your income in a realistic manner. Perhaps, even a desirable locale where the cost of a house is attainable.
Find Out: These Are the 50 Best Cities for Gen Z To Live Well on a Budget
That's the motivation behind a GOBankingRates study highlighting the neighborhoods in American metropolises that offer the most budget-friendly options for housing. Taking 50 of the largest cities in the country and ranking them by population, the study identified three neighborhoods in each city where the cost of buying and renting is lowest. To determine these costs, GOBankingRates used Zillow's rent index and home value index — both of which use weighted results from listings and sales data to give a more accurate reflection of the expected costs in a specific housing market. These areas might not be a magic bullet that allows you to buy a spacious home in one of America's priciest cities, but they might remedy a difficult budget or offer a realistic cure for that long commute.
So, take a look and see where in America you can buy and rent housing for less.
Last updated: July 29, 2021
1. New York
Parkchester
Average home value: $171,912.33
Average monthly rent: $1,776.79
Woodlawn
Average home value: $273,617.67
Average monthly rent: $1,844.08
Williamsbridge
Average home value: $314,275.00
Average monthly rent: $1,810.36
See: The Most Expensive Countries To Live In
2. Los Angeles
Southeast Los Angeles
Average home value: $417,180.33
Average monthly rent: $2,376.83
Central City
Average home value: $442,035.67
Average monthly rent: $2,372.72
Wilmington
Average home value: $476,672.67
Average monthly rent: $2,338.90
See: 50 Best Places To Buy a Home Under $250K
3. Chicago
South Chicago
Average home value: $108,866.00
Average monthly rent: $1,174.28
Burnside
Average home value: $121,429.67
Average monthly rent: $1,248.72
Chatham
Average home value: $139,944.67
Average monthly rent: $1,243.40
Read More: 17 Dumb Home-Buying Mistakes That Hurt Your Wallet
4. Houston
Clinton Park Tri-Community
Average home value: $85,589.33
Average monthly rent: $1,109.40
Settegast
Average home value: $91,059.67
Average monthly rent: $1,121.93
Trinity - Houston Gardens
Average home value: $95,277.33
Average monthly rent: $1,209.37
See: The Cost To Own a 3-Bedroom Home in Every State
5. Phoenix
Estrella
Average home value: $222,509.00
Average monthly rent: $1,286.23
South Mountain
Average home value: $209,671.00
Average monthly rent: $1,337.52
Alhambra
Average home value: $203,803.00
Average monthly rent: $1,348.78
6. Philadelphia
Olney
Average home value: $120,606.67
Average monthly rent: $1,106.87
Wissinoming
Average home value: $126,697.00
Average monthly rent: $1,122.61
Summerdale
Average home value: $120,918.33
Average monthly rent: $1,165.94
7. San Antonio
Avenida Guadalupe
Average home value: $87,869.33
Average monthly rent: $933.96
Quintana Community
Average home value: $98,565.67
Average monthly rent: $940.73
Prospect Hill
Average home value: $91,096.33
Average monthly rent: $1,021.83
8. San Diego
Colina del Sol
Average home value: $274,151.33
Average monthly rent: $1,791.60
Grantville
Average home value: $335,718.67
Average monthly rent: $2,031.20
Corridor
Average home value: $419,155.33
Average monthly rent: $1,946.80
9. Dallas
Southeast Dallas
Average home value: $140,639.67
Average monthly rent: $1,203.66
South Dallas
Average home value: $144,813.33
Average monthly rent: $1,206.42
Wolf Creek
Average home value: $175,468.00
Average monthly rent: $1,219.65
10. San Jose, California
Fairgrounds
Average home value: $753,476.67
Average monthly rent: $2,959.95
Alum Rock-East Foothills
Average home value: $775,561.33
Average monthly rent: $2,976.06
East San Jose
Average home value: $742,687.00
Average monthly rent: $3,020.42
11. Austin, Texas
Franklin Park
Average home value: $226,321.67
Average monthly rent: $1,501.63
McKinney
Average home value: $238,674.33
Average monthly rent: $1,582.56
Southeast
Average home value: $252,274.33
Average monthly rent: $1,564.38
12. Jacksonville, Florida
Sweetwater
Average home value: $144,786.67
Average monthly rent: $1,092.91
Oak Hill
Average home value: $147,966.00
Average monthly rent: $1,082.49
Baymeadows
Average home value: $132,286.67
Average monthly rent: $1,287.83
13. Fort Worth, Texas
Bomber Heights
Average home value: $137,008.00
Average monthly rent: $1,014.55
South Hills
Average home value: $156,941.33
Average monthly rent: $1,321.83
Handley
Average home value: $159,764.00
Average monthly rent: $1,364.96
Find Out: Best Places To Live on a $50,000 Salary in Every State
14. Columbus, Ohio
Leawood
Average home value: $118,180.00
Average monthly rent: $1,025.25
Beechwood
Average home value: $117,959.33
Average monthly rent: $1,068.57
Holly Hill
Average home value: $123,240.33
Average monthly rent: $921.76
Find Out: 8 Insider Tips to Get Rich in Real Estate
15. San Francisco
Ingleside Heights
Average home value: $999,816.00
Average monthly rent: $3,294.98
Visitacion Valley
Average home value: $942,445.33
Average monthly rent: $3,781.00
Bayview
Average home value: $963,365.67
Average monthly rent: $3,729.28
16. Charlotte, North Carolina
Hidden Valley
Average home value: $142,526.00
Average monthly rent: $1,116.67
Westerly Hills
Average home value: $139,452.33
Average monthly rent: $1,253.63
College Downs
Average home value: $146,588.00
Average monthly rent: $1,221.46
17. Indianapolis
Near Southeast
Average home value: $70,236.67
Average monthly rent: $747.45
Devington
Average home value: $79,111.33
Average monthly rent: $792.86
Garden City
Average home value: $86,969.33
Average monthly rent: $815.19
18. Seattle
South Park
Average home value: $451,096.00
Average monthly rent: $1,672.30
South Delridge
Average home value: $474,639.00
Average monthly rent: $1,859.66
Rainier View
Average home value: $446,556.00
Average monthly rent: $2,114.27
19. Denver
Windsor
Average home value: $210,160.00
Average monthly rent: $1,659.29
DIA
Average home value: $267,059.67
Average monthly rent: $1,706.34
College View - South Platte
Average home value: $334,963.67
Average monthly rent: $1,494.31
20. Washington
Congress Heights
Average home value: $342,830.00
Average monthly rent: $1,754.62
Deanwood
Average home value: $355,729.00
Average monthly rent: $1,807.80
Buena Vista
Average home value: $359,371.67
Average monthly rent: $1,908.54
21. Boston
Brighton
Average home value: $531,927.33
Average monthly rent: $2,705.14
Allston
Average home value: $596,565.00
Average monthly rent: $2,735.43
West End
Average home value: $585,661.33
Average monthly rent: $2,908.46
22. El Paso, Texas
Pasadena
Average home value: $92,163.67
Average monthly rent: $829.36
Ysleta Mission Valley
Average home value: $94,309.67
Average monthly rent: $871.46
Save the Valley 21
Average home value: $97,424.33
Average monthly rent: $871.03
23. Portland, Oregon
Powellhurst Gilbert
Average home value: $315,255.00
Average monthly rent: $1,590.57
Hayden Island
Average home value: $282,370.67
Average monthly rent: $1,847.19
Mill Park
Average home value: $317,264.00
Average monthly rent: $1,585.46
24. Memphis, Tennessee
Shelby Forest-Frayser
Average home value: $55,718.67
Average monthly rent: $723.63
Berclair-Highland Heights
Average home value: $49,402.67
Average monthly rent: $814.04
Parkway Village-Oakhaven
Average home value: $78,959.00
Average monthly rent: $804.61
25. Oklahoma City
Meridian Avenue Corridor
Average home value: $108,080.33
Average monthly rent: $837.84
I-240 Corridor
Average home value: $108,675.00
Average monthly rent: $835.40
Northwest 39th Street Enclave
Average home value: $120,743.00
Average monthly rent: $896.37
26. Las Vegas
Sunrise Manor
Average home value: $230,782.33
Average monthly rent: $1,183.07
Charleston Heights
Average home value: $232,157.67
Average monthly rent: $1,249.53
Whitney
Average home value: $235,932.00
Average monthly rent: $1,241.85
27. Louisville, Kentucky
Taylor Berry
Average home value: $65,465.00
Average monthly rent: $787.25
Parkland
Average home value: $36,596.33
Average monthly rent: $833.31
Wyandotte
Average home value: $69,900.00
Average monthly rent: $817.54
28. Baltimore
Idlewood
Average home value: $137,172.00
Average monthly rent: $1,197.22
Perring Loch
Average home value: $142,810.00
Average monthly rent: $1,206.66
Woodring
Average home value: $169,597.00
Average monthly rent: $1,272.56
29. Milwaukee
Silver Spring
Average home value: $85,245.33
Average monthly rent: $841.97
Uptown
Average home value: $98,853.00
Average monthly rent: $800.32
Capitol Heights
Average home value: $109,150.00
Average monthly rent: $859.51
30. Albuquerque, New Mexico
Trumbull Village
Average home value: $121,995.67
Average monthly rent: $771.80
La Mesa
Average home value: $141,455.67
Average monthly rent: $835.92
Alamosa
Average home value: $130,502.33
Average monthly rent: $1,028.29
31. Tucson, Arizona
Julia Keen
Average home value: $146,052.67
Average monthly rent: $997.12
Myers
Average home value: $148,288.00
Average monthly rent: $1,016.11
Keeling
Average home value: $153,531.00
Average monthly rent: $845.42
32. Fresno, California
Central
Average home value: $148,683.33
Average monthly rent: $981.57
Fresno High Roeding
Average home value: $198,805.67
Average monthly rent: $1,168.46
Roosevelt
Average home value: $205,392.00
Average monthly rent: $1,149.20
33. Mesa, Arizona
Mesa Grande
Average home value: $172,562.67
Average monthly rent: $1,375.19
Encanto
Average home value: $222,973.67
Average monthly rent: $1,345.24
Reed Park
Average home value: $227,936.33
Average monthly rent: $1,342.02
34. Sacramento, California
East Del Paso Heights
Average home value: $231,941.33
Average monthly rent: $1,427.61
South Hagginwood
Average home value: $235,871.67
Average monthly rent: $1,531.66
Del Paso Heights
Average home value: $252,353.67
Average monthly rent: $1,564.72
35. Atlanta
Princeton Lakes
Average home value: $228,343.00
Average monthly rent: $1,346.56
Downtown
Average home value: $228,871.67
Average monthly rent: $1,730.77
Lindbergh
Average home value: $264,867.00
Average monthly rent: $1,745.96
36. Kansas City, Missouri
South India Mound
Average home value: $58,166.00
Average monthly rent: $814.03
Marlborough Heights - Marlborough Pride
Average home value: $57,602.33
Average monthly rent: $835.96
Eastwood Hill East
Average home value: $75,485.67
Average monthly rent: $852.75
37. Colorado Springs, Colorado
Southeast Colorado Springs
Average home value: $243,699.00
Average monthly rent: $1,387.09
Central Colorado Springs
Average home value: $269,830.67
Average monthly rent: $1,437.56
East Colorado Springs
Average home value: $280,484.33
Average monthly rent: $1,451.51
38. Miami
Flagami
Average home value: $304,038.67
Average monthly rent: $1,750.21
Alameda - West Flagler
Average home value: $343,318.33
Average monthly rent: $1,756.92
Shenandoah
Average home value: $472,340.67
Average monthly rent: $1,897.90
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39. Raleigh, North Carolina
South Raleigh
Average home value: $183,149.67
Average monthly rent: $1,210.94
Southeast Raleigh
Average home value: $189,576.67
Average monthly rent: $1,261.70
East Raleigh
Average home value: $255,731.33
Average monthly rent: $1,162.45
40. Long Beach, California
East Village
Average home value: $335,772.67
Average monthly rent: $2,032.62
Hellman
Average home value: $402,442.67
Average monthly rent: $1,996.92
Willmore City
Average home value: $404,225.67
Average monthly rent: $2,049.22
41. Virginia Beach, Virginia
Oceana
Average home value: $209,940.33
Average monthly rent: $1,318.68
Green Run
Average home value: $207,796.00
Average monthly rent: $1,383.65
Princess Anne Plaza
Average home value: $223,169.33
Average monthly rent: $1,388.52
42. Oakland, California
North Stonehurst
Average home value: $473,472.67
Average monthly rent: $2,554.97
Webster
Average home value: $462,408.00
Average monthly rent: $2,634.27
Adams Point
Average home value: $609,247.33
Average monthly rent: $2,976.95
43. Minneapolis
Webber-Camden
Average home value: $182,663.33
Average monthly rent: $1,323.02
McKinley
Average home value: $174,346.33
Average monthly rent: $1,448.56
Whittier
Average home value: $196,790.67
Average monthly rent: $1,358.91
44. Tulsa, Oklahoma
Hoover
Average home value: $126,425.67
Average monthly rent: $924.13
Lynn Lane
Average home value: $225,407.00
Average monthly rent: $942.66
Brookside
Average home value: $209,966.33
Average monthly rent: $994.32
45. Arlington, Texas
Central
Average home value: $179,734.00
Average monthly rent: $1,217.61
East
Average home value: $173,661.67
Average monthly rent: $1,259.42
West
Average home value: $225,838.67
Average monthly rent: $1,455.02
46. Tampa, Florida
Terrace Park
Average home value: $181,194.33
Average monthly rent: $1,249.69
Lowry Park Central
Average home value: $187,923.33
Average monthly rent: $1,273.09
Fairoaks
Average home value: $199,468.33
Average monthly rent: $1,306.93
47. Wichita, Kansas
McCormick
Average home value: $56,611.33
Average monthly rent: $702.56
South Central
Average home value: $57,431.00
Average monthly rent: $664.73
Stanley-Aley
Average home value: $60,893.67
Average monthly rent: $709.47
48. Cleveland
North Collinwood
Average home value: $72,165.67
Average monthly rent: $769.39
Old Brooklyn
Average home value: $92,358.00
Average monthly rent: $799.38
Jefferson
Average home value: $84,397.67
Average monthly rent: $839.92
49. Bakersfield, California
Southgate
Average home value: $142,580.67
Average monthly rent: $1,032.97
Oleander Sunset
Average home value: $159,776.00
Average monthly rent: $1,064.49
Benton Park
Average home value: $172,978.00
Average monthly rent: $1,209.71
50. Aurora, Colorado
Centretech
Average home value: $179,993.67
Average monthly rent: $1,432.76
City Center North
Average home value: $229,571.00
Average monthly rent: $1,357.68
Highline Villages
Average home value: $230,156.67
Average monthly rent: $1,521.10
More From GOBankingRates
Methodology: GOBankingRates took the 54 biggest cities in the U.S. by population (according to the 2018 American Community Survey conducted by the U.S. Census Bureau) and found the three cheapest neighborhoods in each in terms of home values and rent rates. First, GOBankingRates compiled the 10 neighborhoods in each city with (1) the lowest median estimated home values (according to Zillow's housing data). Then, GOBankingRates compiled (2) the estimated market rent rate (also from Zillow) in each city's 10 selected neighborhoods. GOBankingRates then scored each neighborhood against the other selected neighborhoods in the respective state on each of these two factors, with lower home values and lower rent corresponding to lower scores. The three cheapest neighborhoods in each city were identified as the three neighborhoods with the lowest composite score. In order to be included in our final ranking, neighborhoods had to have data available for both scored factors. All data was compiled on and is up to date as of Jan. 3, 2020.
Note: The following four cities were omitted from our final ranking due to a significant lack of data on their housing markets, which made them impossible to rank: Detroit; New Orleans; Nashville, Tennessee; and Omaha, Nebraska. We considered 20 neighborhoods (rather than 10) to create our final ranking in the following four cities that were lacking some data to ensure that we had both home value and rent data for at least three neighborhoods: Baltimore; Tucson, Arizona; Mesa, Arizona; and Oakland, California.
This article originally appeared on GOBankingRates.com: The Cheapest Neighborhoods in the 50 Biggest US Cities
