Southeast and Southwest Lead in Rental Options for a $1,500 Monthly Budget
During the peak summer rental season, RentCafe analyzed where renters can get the most space for a monthly budget of $1,500.
After evaluating 200 cities using data from its sister company Yardi Matrix, RentCafe found that over half of the top 20 large markets offering the most space for $1,500 are located in the Southeast and Southwest, with the Midwest accounting for the remaining top 20 spots.
On average, renters nationwide can secure 729 square feet for $1,500 per month. RentCafe discovered that 62% of the 200 largest cities provide more space than this national average at the same price point.
Wichita, Kansas, and Toledo, Ohio, lead the list, offering 1,359 and 1,345 square feet, respectively, for $1,500 per month. Following closely are Oklahoma City with 1,302 square feet—typically a three-bedroom unit—and Tulsa with 1,277 square feet. Memphis rounds out the top five with 1,257 square feet for $1,500.
Texas boasts three cities near the top of the list for ample apartment space within the budget: Lubbock at No. 6 with 1,220 square feet, El Paso at No. 9 with 1,147 square feet, and Corpus Christi at No. 11 with 1,124 square feet.
Conversely, major cities on the East and West coasts offer the least space for the budget. Manhattan tops this list, with just 228 square feet for $1,500, followed by Brooklyn at 300 square feet.
California cities dominate the bottom of the list, with 32 of the 50 markets offering the least space. San Francisco ranks low with 334 square feet, while Irvine offers 436 square feet. Los Angeles, San Jose, and San Diego provide around 440 square feet for $1,500—typically a small studio.
In smaller cities, the South once again offers renters the most space for their money. In Columbus, Georgia, $1,500 rents 1,432 square feet of apartment space, while McAllen, Texas, follows closely with 1,423 square feet, enough for a four-bedroom apartment.
Texas also ranks high for small cities, with four locations in the top 20. Alongside McAllen, Amarillo, Brownsville, and Pasadena each offer over 1,100 square feet for the $1,500 budget.
As with larger cities, $1,500 gets the least space in California’s smaller markets, led by Sunnyvale at 406 square feet. Pasadena and Glendale are close behind, offering 427 and 444 square feet, respectively.
