Childcare costs $10,143 a year in Uvalde County for two children compared to the Texas average of $14,973. Not many live in the town of fewer than 400 households, but those who rent, do so on the cheap. Well, its only free if you can finish the 72-ounce steak entre in under an hour otherwise, it costs $72. Since 2014 weve helped over 30 million people shop for insurance and placed more than $150 billion in coverage from our headquarters in New York City and Durham, North Carolina. If you have a dog, experts recommend that you should have at least $100,000 in personal liability coverage, which you can get through most renters insurance policies. Purchasing a home here and renting it out provides a reasonably good return on investment. If you are using a screen reader, or are having difficulty reading this website, please emailaccessibilityfeedback@rent.com. Louisville, KY is 16 on our list of best cities with good deals on rent with a typical rent of $1,141 and a five-year rent increase of $200, both below average. With that logic in mind, we derived several cost of living statistics from the latest Census American Community Survey 2017-2021 for Texas. This article outlining the cheapest cities to live in Texas in 2023 will help guide your search for the most affordable places to live in the Lonestar state. Login. Here are the top five cheapest cities to rent a house in Texas. Get connected with the best moving company! Rental vacancy is above average at 7.5%, unemployment is below average at 3.6%, and commute time is below average at 21 minutes. The cheapest renters insurance company in Texas is Chubb, according to NerdWallet's rate analysis. Known for its exemplary courthouse and post office buildings, this city sits on the border between Texas and Arkansas and has a twin city across the state line. Texas, best known as the Lone Star State, is home to the Alamo, Astrodome, and many famous historical sites. While average annual income is below average at $49,260, cost of living is also below average at 90.5 (using the regional price parities metric, where the national average is 100). For example, imagine a place in Texas where median incomes are $100,000 and housing costs $200,000 to buy. In fact, a quarter of the U.S. beef supply is processed in the region. Wichita Falls, the largest city in North Texas away from the DFW Metroplex, is the cheapest big city to live in Texas. Typical rent is $1,491, the five-year rent increase is $276, and rent as percentage of income is 27.8%, all below average. Commute time is below average at 19 minutes, unemployment is below average at 2.5%, and the rental vacancy rate is above average at 14%, giving renters ample options to find a cheap apartment to rent that they love. Texas is a diverse and enormous state. Before we dive into the most affordable cities to rent in Texas, lets look at a few general rental facts and statistics: Its clear that Texas is a more affordable living option than the national average and presents attractive opportunities for renters and real estate investors alike. To ensure we created a list of places with good job prospects, we also looked at average annual income, average unemployment rate, cost of living, and average commute time, so you can find a cheap apartment and a job to pay for it. Lubbock is the largest city among the top 10, the 11th largest in the state and has a population of more than a quarter-million people. A one-bedroom can still be had for just $717 a month on average. The average home value in Texas is $187,200, almost 4.1 times higher than Marlin. Forth Worth, Texas. The cheapest major city in Texas is Harlingen, with a cost of living 16% lower below the state average and 23% lower than the national average . Elsa We're heading to Hidalgo County, near the Mexico border, to reach the most affordable place in Texas, Elsa. You can attend the annual Houston Livestock Show and Rodeo or go out for Tex-Mex while still finding a cheap place to live. Cotton not the fabric of your life? He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks. Cheapest Cities to Live in Texas Comparison. The data on this page is updated bi-annually and it was last published in March 2023. Borger, tx, is a great place to call home for those looking for affordable living. Book an appointment today. Determining affordability for places in Texas boils down to two factors: You need to understand your costs in the context of how much money you make to determine affordability. 6. CA License #01950016. Rental vacancy is average at 6.7%, unemployment is low at 3.7%, and commute is average at 24 minutes. Cities with lower percentages of ranked higher. How do rent prices in Dallas, TX compare with the national average? FMR is primarily used to determine the standard payment amounts for the Housing Choice Voucher program, rents for section 8 housing contracts and deciding payment amounts for other government housing assistance programs. In 2010, a backhoe operator discovered a 38,000-year-old mammoth in a sandpit. Annual income is slightly below average at $54,530, and cost of living is also below average at 92.8 (using the regional price parities metric, where the national average is 100). While the demand for affordable rentals is high, not all cities in Texas can be classified as cheap. We ranked the cities based on their overall scores across all eight factors. You should buy it anyway, says Policygenius senior editor and licensed insurance expert Pat Howard. We use data, analytics, and a sense of humor to determine quality of life for places across the nation. . Lubbock is both cheap and growing. As jazz virtuoso Pat Metheny sang in his 21-minute opus, As falls Wichita, so falls Wichita Falls. But even with rents not falling (up 3.36 percent year to year), rents are still minuscule. Though its size and diversity make it a bustling epicenter for business, education, and nightlife, Corpus Christi is still one of the cheapest places to live in terms of home prices and rental rates. Fair Market Rent is the 40th-percentile of typical rentals in a given region. And, of course, residents are welcome to enjoy the citys main attraction: Chip and Joanna Gaines Magnolia Market. Traditional Cash on Cash Return: 2.52%. Click on your region in the list below or on the map to see a more detailed break down of rental prices. Research These Cities Have the Cheapest Rent in the U.S.: August 2022 Muriel Vega 9.20.2022 This past spring, new U.S. census data showed an increase in population movement away from major urban hubs to smaller cities for affordability and more space. Population: 19,644Rank Last Year: 19 (Up 10)Home Price To Income Ratio: 1.9x (49th most affordable)Income To Rent Ratio: 71.0x (332nd cheapest)More On Alamo: Real Estate|Crime Rate|Cost Of Living. Your email address will not be published. Population: 5,890Rank Last Year: 41 (Up 33)Home Price To Income Ratio: 1.6x (11th most affordable)Income To Rent Ratio: 66.9x (82nd cheapest)More On Edna: Real Estate|Crime Rate|Cost Of Living. Top scores were awarded to the cities with the lowest typical monthly rents, the lowest five-year rent changes (higher changes would indicate that rents are rising more quickly), higher annual incomes, lower values for rents as a percentage of incomes (lower values mean people spend less of their yearly income on housing), higher rental vacancy rates (renters have greater choice and more bargaining power if more rental units are available), lower costs of living, lower unemployment rates, and shorter average commutes. You can make up for the expense on your affordable rent. Austins median household income is lower than some other cities listed above, so people have a little less income to spend. ", "acceptedAnswer": { "@type": "Answer", "text": "

Average annual cost for $15,000 in personal property coverage. Typical rent per month is $1,135, the five-year rent increase is $213, and rent as a percentage of income is 25.7%, all below average. Gov. At the intersection of Texas routes 60 and 35, Bay City is an important stop between Houston and Corpus Christi. Texas is a diverse and enormous state. @media(min-width:0px){#div-gpt-ad-homesnacks_com-large-mobile-banner-2-0-asloaded{max-width:300px!important;max-height:250px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'homesnacks_com-large-mobile-banner-2','ezslot_16',113,'0','0'])};__ez_fad_position('div-gpt-ad-homesnacks_com-large-mobile-banner-2-0'); Edna, The Flag City of Texas, serves as the gateway to Lake Texana and offers a range of amenities and attractions. The city has a population of 11,654 and is known for its scenic location on the Gulf Coast and world-class saltwater fishing. Price to Rent Ratio: 21. Population: 11,654Rank Last Year: 17 (Up 10)Home Price To Income Ratio: 1.9x (37th most affordable)Income To Rent Ratio: 81.0x (153rd cheapest)More On Port Lavaca: Real Estate|Cost Of Living. The lake itself is one of the most popular recreational bodies of water in the San Antonio region. Given these benefits, its easy to see why Texas is a favored destination for many. The 25 cheapest places to live in Texas spread out all around the state, from the High Plains to the Piney Woods to Big Bend. The average home price in Austin is the highest in the state, yet, the demand for rental units is high, making it an excellent location for a rental property. Is it cheaper to live in Texas or Florida? Port Lavaca also offers an excellent quality of life. Bolger provides residents with a large set of recreational activities. El Paso also possesses a robust job market, making it the perfect place to find affordable living and employment opportunities. The cheapest places to live in Texas include Elsa and Muleshoe based on real estate prices and incomes from the most recent Census. These activities include a climbing wall, a disc golf course, a Johnson Park Youth Center swimming pool, and the Borger Municipal Golf Course. Read on to learn about each of the top ten affordable cities in Texas and the methodology. Privacy . Rental vacancy is below average at 3.1%, unemployment is below average at 1.8%, and commute time is below average at 20 minutes. @media(min-width:0px){#div-gpt-ad-homesnacks_com-medrectangle-3-0-asloaded{max-width:728px!important;max-height:280px!important}}if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'homesnacks_com-medrectangle-3','ezslot_2',143,'0','0'])};__ez_fad_position('div-gpt-ad-homesnacks_com-medrectangle-3-0');Check out some more reading about Texas and the cheapest places in the country: Were heading to Hidalgo County, near the Mexico border, to reach the most affordable place in Texas, Elsa. $1,765 - 3,745. The cost of living in Elsa is 25% lower than the Texas average, so youll pay less for things like healthcare, services, and transportation. The city has a hospital, library, museum, golf course, retirement community, and a thriving agricultural sector with petroleum and natural gas production, making it a prosperous and vibrant community. Average annual income: Average incomes were from the May 2020 Occupational Employment and Wage Statistics survey from the Bureau of Labor Statistics (BLS). Average annual income is below average at $48,450, but cost of living is also below average at 87.7 (using the regional price parities metric, where the national average is 100). And to ensure you could actually find somewhere to rent in each city, we also looked at rental vacancy data. Texas (TX) has the The five-year rent increase is $247 and rent as a percentage of income is 27%, both below average. Best First Time Home Buyer Programs & Grants in NYC, Buying a House With an LLC: Step By Step Guide. Still not enough beef? The average home value in Marlin is $46,100, the lowest in the state. 1 Bed 2 2 Beds 3+ 3+ Beds Share this Article Cost of Living in Texas, 2023 By: Davina Ward March 30, 2023 Considering a move to Texas? There are 13 cities that ranked worse for affordable rent than their hometown, all in Florida and California. Residents can enjoy outdoor activities like beaches, marinas, swimming, and various local restaurants and shops. This list of the most affordable cities to rent in Texas does not just focus on rental prices alone. Twelve on our list of best cities for renters is Augusta, GA. Madison, WI is 14 on our list of best cities with affordable rent. Today, it is known as the Spinach Capital of the World thanks to its thriving spinach industry. Continue reading to discover which cities offer the best rental deals in Texas. When Does a Seller Get Their Money After Closing on a House? Many people move to Texas because it provides an affordable lifestyle allowing you to experience the best of the state without breaking the bank. Over recent years, Texas has seen a surge in population, largely due to its lower cost of living, flourishing city cultures, and promising employment opportunities. Today, that number is well over 21,000. Several of the most expensive cities in Texas to live fall within the greater Dallas/Fort Worth Metroplex. Wichita, KS is six on our list of best cities for low rent. Policygenius found the best cities for renters by comparing 111 of the largest cities in the country across eight factors: Typical monthly rent costs: Rent data came from the Zillow Observed Rent Index (ZORI) and was for August 2021. Unemployment rate: Unemployment rates, which were available at the level of metropolitan area, came from the BLS and were for October 2021. In any case, most of the best things to do in Muleshoe wont cost you a dime. Average annual income is lowest than any city on our list at $39,450, but cost of living is lowest on our list, too, at 82.2 (using the regional price parities metric, where the national average is 100). On average, rents are higher in Austin; however, the lower range of rent prices is still very affordable. Our team uses a weighted average formula that more accurately represents price availability for each individual unit type and reduces the influence of seasonality on rent prices in specific markets. Port Lavacas median rent of $719/month is less than half of the statewide average. The average Fair Market Rent for a 2-bedroom home in Texas is $907 per month. Rent prices are based on a rolling weighted average from Apartment Guide and Rent.s multifamily rental property inventory of one-bedroom apartments. Its the best way for renters to protect themselves and their stuff, he says. With some of the best cuisine, culture, and outdoor activity in the state, El Paso is a well-rounded city for residents of all ages and walks of life. The city hosts annual events like the Watermelon Festival and the East Texas Poultry Festival, which crown annual festival queens. But even if you dont finish, no worries. This allows The Falls to offer the trappings of a big city but at an affordable cost of living. In the heart of oil country, Bay City is home to a multi-billion dollar seamless-pipe mill manufacturing parts for the drilling industry. We studied the 190 largest cities and towns in Texas and calculated each ones average rent for a one-bedroom apartment. The median income of a Texas household is $63,826.

Typical rent is $972, five-year rent increase is $139, and rent as a percentage of income is 29.6%, all below average. Texans live in giant glass cities and small towns alike. We aim to deliver bite-sized pieces of infotainment about where you live. Derek is a former senior editor and personal finance expert at Policygenius, where he specialized in financial data, taxes, estate planning, and investing. Its not always required, but you need renters insurance, Have an animal? So far in 2023, Phoenix has seen about a 40% spike in filings compared with the years before the pandemic, according to the Eviction Lab. The area is popular amongst healthcare professionals, financiers, and military personnel, who are drawn to major local employers such as Hendrick Health System, First Financial Bankshares, and the Dyess Air Force Base. Greenville offers convenience to the best of big city life while maintaining its small-town feel. Canyon Lake is a relatively new community built around the eponymous lake, which is actually an 8,200-acre manmade reservoir. 27th highest rent in the country out of 56 states and territories. The cheapest places to live in Texas for 2023 are Elsa, Muleshoe, and Crystal City. When youre looking to move to, or move within, the Lone Star State, where are the cheapest places to live in Texas? The city of Clute is in a highly industrialized region of Texas along the coastal plains. Rent as a percentage of income is also below average at 27.8%. Population: 12,612Rank Last Year: 11 (Up 1)Home Price To Income Ratio: 1.6x (12th most affordable)Income To Rent Ratio: 63.0x (285th cheapest)More On Borger: Real Estate|Crime Rate|Cost Of Living. Homes tend to stay on the market for an average of 39 days. What is the cheapest housing market in Texas? Our list of the best cities for affordable rent continues with Syracuse, N.Y. at number 11. Crystal City, located in Zavala County, ranks as the third most affordable place in Florida. Nerdy takeaways. Interested in how we figured out the top ten cheapest cities in Texas? Rental vacancy is average at 6.2%, unemployment is below average at 3%, and commute time is below average at 22 minutes. [3] Cities with lower monthly rent costs ranked higher. A well-rounded city, Lubbock is ultimately an affordable place to find a little bit of everything. Austin offers plenty to do, with a wide range of cultural and recreational offerings. Overall, Wichita Falls is a great place for anyone who wants great business opportunities without the headache of the inner city. Michael is a Philadelphia-based writer with a variety of interests, including music, concerts, TV, politics, travel and sports. And formerly known as the Cotton Capital of the World, it also features the Audie Murphy American Cotton Museum. As a company that connects people buying or selling a home with top real estate agents, we can match you with the perfect real estate agent who understands your motivation for investing in Texas. But if you work for yourself, you may need more home business coverage than renters insurance provides. This bustling city is a highly populated tourist center and hosts roughly 2 million visitors annually. Ranking it number 4 on our list of cheapest cities to rent in Texas! Just a half-hour south of town lies the Matagorda Bay along the Gulf of Mexico, the citys namesake body of water. Average rents list for just $711 a month for a one-bedroom apartment. While average annual income is below the average of the cities in our study at $48,460, cost of living is also low at 89.3 (using the regional price parities metric, where the national average is 100). FY 2023 rates are effective from October 2022 to September 2023. With residents earning a median income of $58,221, Port Lavaca has a very impressive rent-to-income ratio. Average annual income is below average at $53,820, but cost of living is also below average at 87.6 (using the regional price parities metric, where the national average is 100). The city of nearly 18,000 features two museums, a regional airport and a popular downtown. This makes it an attractive option for those looking for affordable housing options or wanting to save money on their day-to-day expenses. Its a cheap place to rent, while still a convenient distance both to work and entertainment, but removed from the bustle of both Big D and crowded North Texas mega-suburbs like Plano and Irving. Learn more about how we use and vet external sources as part of oureditorial standards. A calming respite from the chaos of big-city life, this area provides its residents with an abundance of green spaces for a calming breath of fresh air. All of these cities have thriving communities, healthy real estate markets, and strong economies. Boasting a wide variety of home architectures and rental options, Abilene is a great option for homebuyers in search of great business opportunities and low costs of living. The Fair Market Rent in Texas is $907 for a 2-bedroom apartment in Anderson County, TX . A suburb of Brownsville, Harlingen is one of the cheapest places to live in Texas for families. With a low cost of living and low crime rates, Texarkana is a great place for Texas scholars. The five-year rent increase is $187 rent as percentage of income is 27.1%, both below average. A new housing development is under construction just off the northernmost exit. That figure marks just a 0.64 percent increase from this quarter last year. Home prices in this area average at around $127k, making it an affordable option for first-time homebuyers who prefer a quiet lifestyle. Renters insurance policies come with liability coverage which protects you if you accidentally injure someone, and it also applies if your pet hurts someone. A town harboring a classic cowboy attitude, Odessa is another one of the cheapest places to live in Texas. He is passionate about the housing market and solving problems. Heres a look at the most expensive cities in Texas according to the data: Chris Kolmar has been in the real estate business for almost ten years now. But where Elsa stands out is housing costs, which are only 31% of the national average. Questions about this page? Amarillo is the cheapest place to live in the Panhandle. ", "acceptedAnswer": { "@type": "Answer", "text": "

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