Real Estate Top 5 Cheapest Places to Live in The US for Renters Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr Credit: Pixabay Are you struggling to make rent every month? If you spend more than 30% of your monthly income on your rent, then you’re, financially in the red according to financial experts. Unfortunately, more than 43 million Americans are paying more for their homes than they can afford. If you fall into this category, maybe it’s time you moved to a more renter-friendly place. Below are some of the cheapest places to live in the US. Memphis, Tennessee Credit: Pixabay Perched on a bluff overlooking the Mississippi River, Downtown Memphis spreads outwards in 3 directions and plays host to over 655,000 people. You can get a home of 1,948 square feet for only $1500 per month. This is a measly $0.77 per square foot. The average apartment size in the area is 902 square feet and therefore you can expect to spend about $695 per month on rent. You can get a decent one-bedroom unit in the Cooper-Young neighborhood for only $450 a month. This property is only 5 minutes away from famous restaurants and bars in the area such as Hammer & Ale. Wichita, Kansas Credit: Pixabay Wichita is the largest city in Kansas with a population of over 389,000 people. The city is a hub of logistics, industry, and services surrounded by sprawling farmland. It also hosts some of the largest aircraft manufacturing companies in the world. Just like Memphis, you can get an apartment at 0.77 per square foot. The average apartment is about 787 square feet where you can expect to pay about $609 per month. With $500 a month, you can get a one-bedroom apartment in the Historic Midtown neighborhood, which is close to parks and restaurants that overlook the Little Arkansas River. Winston-Salem, North Carolina Credit: Wikimedia With a population of over 240,000 people, Winston-Salem is located in the Piedmont Triad region of central North Caroline. This is one of the cheapest places to live in the US. With an average rent of $0.79 per square foot and an average square footage of 923 per apartment, you are likely to pay about $729 per month in rent. Winston, as its popularly known, is a technology, medical and banking center with an unemployment rate of about 4.9%. Fort Wayne, Indiana Credit: visitfortwayne.com During the early 20th century, Fort Wayne in Indiana was a bustling manufacturing hub hosting companies such as International Harvester and General Electric. However, it lost all its glory during the economic collapse of the ‘70s and ‘80s. Today, Fort Wayne is modern economy focused on healthcare, professional services, and logistics. Rental homes go for about $686 per month with apartment sizes averaging 869 square feet each. You can get a one-bedroom apartment for $450 in Pettit-Rudisill. In this neighborhood, you can get lofts with a shared backyard and an in-unit laundry. Cats and dogs are allowed. Toledo, Ohio Credit: Wikimedia The port city of Toledo is perched on the western edge of the Lake Erie. Also referred to as Glass City, it was once a dominant glass manufacturing hub. The economy suffered a great deal during the 20th century, but it’s still an industrial hub with companies such as Owens Corning, Dana Holding Corporation, Fifth Third Bank and HCR Manor Care. Average rent is about $0.81 per square foot. The average size of apartments in the area is 807 square meters meaning you will part with an average of $654 every month for rent. In Southwyck neighborhood you can get a one-bedroom apartment for $449 per month. This is near the Swan Creek Preserve with plenty of amenities close River.