Kansas City, Mo., St. Louis make Top 25 cities where renters can afford to live alone

A study analyzing data from the largest 100 U.S. cities looked into the best urban locations where renters can afford to live alone based on metrics such as average rent for a unit with fewer than two bedrooms and median earnings for full-time workers, listing St. Louis at No.6 and Kansas City, Mo. at No.13.

Finding a place to call home can be difficult at times for renters, especially those that want to live alone.

Data from SmartAsset shows that just two years ago in 2018, the median monthly rent was $891 for a studio and $911 for a one-bedroom.

According to these numbers, the average renter in the U.S. living alone spends around $10,600 per year on rent alone.

For most renters, solo-living rent costs that high is out of the question. However, a recent study by SmartAsset looked into 100 of the largest cities in the U.S. to see where renting a space alone is feasible.

The study found that Missouri’s two largest cities made the cut for the top 25, and one for the top 10.

Using the following five metrics, the study ranked Kansas City, Mo. at No. 13 and St. Louis, Mo. at No. 6: Average rent for a unit with fewer than two bedrooms, percentage of housing units with fewer than two bedrooms, median earnings for full-time workers, cost of living and the May 2020 unemployment rate.

Below are the numbers provided in the study by SmartAsset for each city:

 

Kansas City, Mo.

Average Monthly Rent: $826

Percntage of Housing Units With Fewer Than Two Bedrooms: 15.91

Median Earnings for Full-Time Workers: $46,213

Cost of Living: $19,792

May 2020 Unemployment Rate: 11.6

Index: 69.50

 

St. Louis, Mo.

Average Monthly Rent: $709

Percntage of Housing Units With Fewer Than Two Bedrooms: 30.45

Median Earnings for Full-Time Workers: $46,637

Cost of Living: $20,284

May 2020 Unemployment Rate: 13.5

Index: 81.47

 

The link to the full report can be found here.