RentCafe senior analyst Doug Ressler joins Wealth! to break down some of the cities across the US with the most square footage for $1,500 rent.
Ressler explains that, on average, renters nationwide can expect about 729 square feet for $1,500 a month. The cities with the largest apartments by square footage are Wichita, Kansas; Toledo, Ohio; and Oklahoma City, Oklahoma.
He explains that the American Midwest is so affordable because of increasing supply as tech hubs pop up and companies re-shore. Ressler also explains that there is more land available and that rental prices in the region relate more to the amenities provided by developers.
The rift between affordable renting and homebuying grows wider after a Zillow report found $1 million starter homes to be a new norm in over 200 cities across the US.
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