10 Best Places for Retirees Seeking Affordable Rent in 2025
By Samanda Dorger
Just like home prices, the cost of rent over the past 10 years has risen dramatically. Rents have gone up more than 50% in the past decade, according to the Consumer Price Index.
Retirees who rent don’t have to worry about home maintenance tasks and expenses, although owning a home can provide more stability than renting, as rents can be raised or properties sold, according to U.S. News.
Homeownership among 50-65 year olds has declined in recent years, exposing growing numbers of older workers to rising rents in retirement, according to the Center for Retirement Research. When those workers retire, affordable rent is going to be critical.
A new study by WalletHub analyzed the median annual gross rent in more than 180 U.S. cities, then compared it to the median household income.
In the most affordable cities for renters, the median cost of rent is as low as 15% of the median income, compared to more than 33% in the most expensive cities.
Retirement Daily cross-referenced those low-rent cities with some best-places-to-retire lists. Here are 10 places to retire with the most affordable rent.
1. Sioux Falls, South Dakota: Just 15.95% of income goes to rent
Sioux Falls is WalletHub’s No. 19 best place to retire overall and No. 3 for health care.
2. Fargo, North Dakota: 16.65%
WalletHub’s No. 28 for health care and No. 38 for affordability.
3. Casper, Wyoming: 16.72%
Casper ranks ninth best place to retire overall by WalletHub, and No. 3 for affordability.
4. Huntsville, Alabama: 18.28%
U.S. News ranks Huntsville as its eighth best place to retire overall, noted for its strong job market, low cost of livinghea and overall happiness.
5. Omaha, Nebraska: 18.98%
U.S. News ranks Omaha No. 25 overall, offering a balanced lifestyle with decent health care and housing affordability.
6. Fort Wayne, Indiana: 19.09%
Ranked No. 10 overall by U.S. News, Fort Wayne is notable for its affordability and quiet neighborhoods.
7. Oklahoma City: 19.48%
Known for its affordability and quality health care, OKC is ranked No. 23 overall best place to retire by U.S. News.
8. Lexington-Fayette, Kentucky: 19.54%
Best place to retire No. 16 (U.S. News) with its a blend of Southern charm and modern urban conveniences, and it’s also WalletHub’s No. 9 for quality of life.
9. Seattle: 19.66%
Seattle ranks No. 22 best place to retire by U.S. News for its abundant outdoor recreation, thriving arts and restaurant scene and no state income tax. It’s also WalletHub’s No. 26 for activities.
10. Boise, Idaho: 20.06%
Ranked No. 5 best place to retire by U.S. News, highlighting its affordability, outdoor activities, and quality of life. Median rent is just over 20% of median income.
