11 Cheapest Places to Rent in the United States

8) Memphis, Tennessee

Tennessee makes the list again with the musical city of Memphis. A median one-bedroom was $683 and a two-bed was $750. A single-family home runs $900. U.S. News & World Report ranked it 93rd on its “Best Places to Live” list and it has one of the cheapest costs of living of any large metro area in the country. Residents have a lot to do, too. There are tons of restaurants, bars, and unique shops. Live music shows can be found every night of the week. The city is also home to museums, a zoo, and a professional basketball team. The low cost of living compensates for an average salary below the national average, but Memphis also has an unemployment rate slightly above the national average. Three Fortune 500 companies are headquartered here and are major employers: FedEx, International Paper, and AutoZone.