FAST FIVE: Cincinnati Tops List Of Cities Where Renters Can Afford To Live Alone In 2021: Report
According to SmartAsset, the 10 top cities, ranked in order, where renters can afford to live alone are Cincinnati; Minneapolis; Omaha; St.
Top 10 major US cities ranked according to affordability for solo renters in 2021.
(Table: ET; Data source: SmartAsset) The report comes as the cost of renting a home continues to rise in the United States, as more people return to work in metro areas, boosting demand for rental apartments. While rents dropped significantly across the country during the pandemic, as of June, the median national rent was up by 8.4 percent year-over-year, according to Apartment List, an online rental marketplace.
The most recent inflation data provided by the Bureau of Labor Statistics (pdf), released on July 13, showed hotter-than-expected June inflation, with the consumer price index (CPI) rising by 0.9 percent month-over-month in June, hitting at a 13-year high.
In the 12 months through June, inflation was up by 5.4 percent, the largest 12-month increase in the measure since 2008.