Among 728 U.S. cities it costs $199 extra on average per month to upgrade to an apartment with an additional bedroom, according to a new report on affordable upsizing released this week by RentCafe. According to the report, people renting in 83 cities—mostly suburbs—could enjoy an additional bedroom for less than $100 each month.
Key highlights:
- Renters could upgrade to an extra bedroom for less than $50 per month in 17 locations, most of which are suburbs located in the South.
- Portsmouth, Virginia, leads in affordability, with renters able to upsize to an extra bedroom by paying only $25 per month.
- Following Portsmouth, the remaining top 5 cities are Augusta, Georgia; Williamsburg, Virginia; Springdale, Arkansas; and Noblesville, Indiana, where renters can upsize for anywhere from $29 to $36 more per month.
- Three locations in the top 20 best places to upsize for less than $100 are mid-sized cities, specifically Augusta, Georgia; Des Moines, Iowa; and McAllen, Texas, where renters would have to pay between $29 and $52 more per month to upsize.
- Memphis, Tennessee, is the only major city where upsizing would cost less than $100 per month (more exactly, $87 more per month).
- Ohio is the state with the most locations—a total of nine cities—where upsizing would cost less than $100 per month, with the next best states for upsizing on a budget being Michigan with eight cities and Maryland with seven cities.
Major takeaway:
According to the report, renters looking to upsize from a studio to a one-bedroom could do so just by paying an extra $71 per month. Those in one-bedroom apartments could make the move to a two-bedroom rental for an average extra cost of $236 per month, and those in two-bedroom apartments needing more space would need to spend on average $294 more per month.
“Working and living in the same place is no longer just a temporary arrangement for millions of Americans. In fact, more than half of the job holders in the U.S. have the opportunity to work from home at least one day a week. As a consequence, the need for ample living spaces has intensified even more,” stated the authors of the report. “Granted, it doesn’t help that the total apartment size has decreased over the past decade. Space matters—a lot more than you think—whether you’re working from home five days a week or in a hybrid system. For apartment-dwellers who want more space, one simple solution is to upsize on the cheap.”
For the full report, click here.
