Whether you’re moving here from out of state, relocating from one Texas region to another, searching for affordable living options, or considering buying an investment property, you may want to know which markets offer cheaper rent. If you’re looking for the cheapest cities to rent in Texas, look no further than our list!
Living in the Lone Star State comes with so many benefits, from great year-round weather to beautiful places to enjoy on your time off. Healthy living is very doable, the diversity here is fantastic, the economy is strong, and the state is ranked #34 in higher education (According to US News). No wonder people love living in Texas!
The Texas landscape and rental market is varied. This massive state has been increasingly popular and the population has grown significantly over the past several years. Many are attracted to the lower cost of living, thriving culture in Texas cities, and promising job market.
The demand has grown, but may not have too many of the cheapest cities to rent in the U.S. it does have areas where average rent is comparatively less than the rest of the state.
Texas Rental Statistics
Before we dive into the most affordable cities to rent in Texas, let’s look at a few general rental facts and statistics:
- The average rent in Texas is $1,113 per month, compared to $2,016 nationwide
- Across the U.S., rental rates have increased by 31% in the past ten years
- Approximately 109 million Americans reside in rental housing
- The state with the highest number of rental units is California
- About 36% of households in Texas rent their homes
What does all this mean for you? If you are a tenant looking for affordable rentals, you’ll want to know where to find cheaper rent in Texas.
Cheapest Cities to Rent in Texas
Here are the Top 5 cheapest cities to rent a house in Texas, let’s dive in!
1. El Paso
- Population: 681,728
- Median home listing price: $212,690
- Average number of days on the market: 33 days
- Typical home value: $128,319
- Median household income: $47,568
- Average rent price: $837
Home prices are very reasonable in El Paso compared to the rest of the state, which makes investing in rental property here a sound choice. As a result, renters can enjoy lower rates, while investors can make a solid rental income. El Paso stands currently as the cheapest city to rent in Texas!
2. San Antonio
- Population: 1,547,253
- Median home listing price: $262,000
- Average number of days on the market: 39 days
- Typical home value: $143,126
- Median household income: $52,455
- Average rent price: $992
Many are drawn to the region for its affordability and end up staying long-term. Because of its reasonably priced homes and wide range of rent prices, the market moves quickly. Homes tend to stay on the market for an average of 39 days. However, affordable rent can be had here for singles, couples, and families who are drawn to the area for one of the cheapest places to live and rent in Texas.
- Population: 1,343,573
- Median home listing price: $418,700
- Average number of days on the market: 38 days
- Typical home value: $193,646
- Median household income: $52,580
- Average rent price: $1,052
Rent is affordable here, which as a result, draws many to the area. Both the real estate and rental markets thrive in Dallas. While the average home price is higher than other cities, homes in this area typically appreciate well in value and are a good investment. Purchasing a home here and renting it out provides a reasonably good return on investment.
- Population: 2,320,268
- Median home listing price: $295,914
- Average number of days on the market: 43 days
- Typical home value: $177,555
- Median household income: $52,338
- Average rent price: $1,041
Rent here is affordable, and many people choose to live here instead of in nearby Alvin or Beaumont because of Houston’s reasonable rent price ranges.
Houses here sell at a more extended pace, being on the market an average of 49 days, but the real estate market is still healthy, and good deals can be found by savvy investors. Ranking it number 4 on our list of cheapest cities to rent in Texas!
- Population: 978,908
- Median home listing price: $599,722
- Average number of days on the market: 30 days
- Typical home value: $337,187
- Median household income: $71,576
- Average rent price: $1,280
The Austin real estate market here is hot. The average home price in Austin is the highest in the state; yet, the demand for rental units is also high, making it an excellent location for a rental property. On average, rents are higher in Austin; however, the lower range of rent prices is still very affordable. Austin’s median household income is lower than some of the other cities listed above, so people have a little less income to spend.
Austin offers plenty to do, with a wide range of cultural and recreational offerings.
Cheapest Cities to Rent in Texas (Final Thoughts)
Which cheapest city to rent in the Lone Star State is calling you? All of these cities have thriving communities, healthy real estate markets, and strong economies.
All of them attract new residents thanks to affordable rent, strong employment opportunities, good public schools, and proximity to outstanding attractions known around the world. Many of these people will be looking for communities that have affordable rent prices and a thriving economy.
Affordable cities like El Paso, San Antonio, Dallas, Houston, and Austin provide some of the best that Texas has to offer without the high price tags!
Ready to Rent in One of the Cheapest Cities in Texas?
If you’d like to explore these communities further and see if investing in property in one of these cities is right for you, we invite you to reach out to FastExpert.com. 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.
We make it easy for you to hire the right real estate agent, and we provide convenient options to easily compare top agents to simplify your selection. Give us a try and discover why over 400,000 happy clients choose FastExpert!