Oklahoma City is the cheapest big city in the country to rent, according to a new survey.
The average apartment rent is $839 per month, 46 percent less than the national average, according to data compiled by the Council for Community and Economic Research’s Cost of Living Index.
In terms of rental affordability, Oklahoma City, with a population of 1,396,445, narrowly edges out Birmingham, Alabama, and nearby Tulsa, Oklahoma.
The list, compiled by Kiplinger from U.S. metropolitan areas with more than 1 million residents, features many affordable cities in the South and West.
Oklahoma City has some of the cheapest apartments among major metropolitan areas in the United States.
Typical rents in Oklahoma City average $839 per month, which is 46% less than the national average.
Earlier this year, it was revealed that it is now cheaper to rent than buy property in America’s 50 largest metro areas, according to Realtor.com’s rental report.
While it was already more affordable to rent than to buy in the vast majority of metropolitan areas in 2023, high mortgage rates and soaring real estate prices have now upended remaining markets.
In Oklahoma City, although the cost of living is similar to that of any other small city, Oklahoma City has a variety of big city amenities, including its own Philharmonic Orchestra, the National Softball Hall of Fame and Museum and the NBA’s Oklahoma City. Thunder basketball team.
Several major oil and gas companies also call Oklahoma City home, serving as major employers for the region’s oil producers.
There are many cultural activities in Oklahoma City, including the Arts Festival held each April, above.
You can even go whitewater rafting on the Oklahoma River in downtown Oklahoma City.
Devon Energy, Chesapeake Energy and Continental Resources are all based in the city.
There are currently 12 cities in the state of Oklahoma that are among the cheapest small towns in America, but to come in second for most affordable rental options, you’d have to head further south .
Birmingham, Alabama, with a population of just over 1.1 million, comes in second on the list with an average apartment rent of $1,032, a 33% reduction from to the national average.
Aside from “cheap” rent, groceries, transportation and health care all cost less than the national average, Kiplinger reports.
For those looking to buy, housing costs in Birmingham are also affordable, sitting 20 per cent below the national level.
Culturally, Birmingham is the capital of Alabama and home to several museums and galleries, as well as the Alabama Ballet and the Alabama Symphony Orchestra, enriching the local arts scene.
Third on the list is Tulsa, Oklahoma, with a population of just over 1 million and an average apartment rent of $1,059, about 31.5 percent in below the national average.
Once a cattle town and recently known as the “Oil Capital of the World,” Tulsa is perfect for outdoor enthusiasts who can enjoy the Turkey Mountain Urban Wilderness just a short drive from downtown.
The 300-acre area is full of woods and ponds, with trails for hiking and biking.
Birmingham, Alabama, with a population of just over 1.1 million, comes in second on the list with an average apartment rent of $1,032, a 33% reduction from to the national average.
Tulsa, often touted as “the greatest little city in the world,” once evoked images of the “Wild West” and the city is home to museums that pay homage to that history.
The Gilcrease Museum features various exhibits on the American West, while the Philbrook Museum of Art, housed in a mansion financed by the oil boom, has been called “the most beautiful place in Oklahoma.”
Tulsa is even offering people the opportunity to move to the city and will pay people to live there with $10,000 grants through the “Tulsa Remote” program.
Since the program launched in 2018, some 2,900 people have been accepted, generating more than $300 million for the city’s rapidly growing job market.
The booming program has also generated an estimated $2.5 million in sales tax revenue for Tulsa County and $3.1 million for the Sooner State – a place where Route 66 Americana meets the south-central metropolises.
Tulsa, Oklahoma is often touted as “the greatest small city in the world.” Average rents are here
The Philbrook Museum of Art, housed in a mansion financed by the oil boom, has been called “the most beautiful place in Oklahoma.”
Other cities in the top 10Prices are all similar to St. Louis, Missouri, which ranks fourth with an average apartment rent of $1,061. Buffalo, New York, is slightly more expensive at $1,119 and comes in fifth.
With just over $100 more per month, Columbus, Ohio, comes in sixth, while neighboring Cincinnati, Ohio, is seventh with an average rent of $1,381.
Houston, Texas is eighth with an average rent of $1,368.
The ninth is Minneapolis-St. Paul, Minnesota, with an average rent of $1,398, while Pittsburgh, Pennsylvania, rounds out the top ten, at $1,426.
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