R
enters shouldn't have trouble finding apartments, but securing a deal is another story altogether. Despite record-high rental inventory, apartment prices remain at all-time highs. According to Zumper's latest report, the median rent for one-bedroom apartments reached $1,534 in October, matching August's peak price and only 1.9% higher than last year.

    The surge in new rental units has contributed to this unprecedented supply, but demand has risen alongside it, keeping prices steady. This dynamic is driven by a strong economy with solid GDP growth, resilient consumer spending, low unemployment, and robust job additions. As Anthemos Georgiades, CEO of Zumper, noted, "Sustained high demand can be linked to several economic factors, including low unemployment, easing inflation, and continued wage growth."

    While rent remains stubbornly high nationally, there are cities where apartments are increasingly affordable. Here are 16 markets where rent is at least $200 cheaper than the national median price of $1,534 in October and no less than 3% cheaper than last year:

    1. Minneapolis, Minnesota: Year-over-year rent change: -9.1%, Month-over-month rent change: -5.1%, Median rent: $1,300

    2. Raleigh, North Carolina: Year-over-year rent change: -6.8%, Month-over-month rent change: -0.8%, Median rent: $1,240

    3. Baltimore, Maryland: Year-over-year rent change: -6.3%, Month-over-month rent change: -0.7%, Median rent: $1,330

    4. Milwaukee, Wisconsin: Year-over-year rent change: -5.5%, Month-over-month rent change: -1%, Median rent: $1,040

    5. Glendale, Arizona: Year-over-year rent change: -5.5%, Month-over-month rent change: 0.8%, Median rent: $1,210

    6. Jacksonville, Florida: Year-over-year rent change: -4.7%, Month-over-month rent change: 0.8%, Median rent: $1,220

    7. Spokane, Washington: Year-over-year rent change: -4.5%, Month-over-month rent change: -1.9%, Median rent: $1,050

    8. Arlington, Texas: Year-over-year rent change: -4.5%, Month-over-month rent change: -1.8%, Median rent: $1,070

    9. Phoenix, Arizona: Year-over-year rent change: -4.4%, Month-over-month rent change: -0.8%, Median rent: $1,290

    10. Anchorage, Alaska: Year-over-year rent change: -4.3%, Month-over-month rent change: 3.1%, Median rent: $1,330

    11. Tulsa, Oklahoma: Year-over-year rent change: -4.1%, Month-over-month rent change: -1.1%, Median rent: $930

    12. Las Vegas, Nevada: Year-over-year rent change: -4%, Month-over-month rent change: 0%, Median rent: $1,200

    13. Chattanooga, Tennessee: Year-over-year rent change: -3.8%, Month-over-month rent change: 0.8%, Median rent: $1,260

    14. Fort Worth, Texas: Year-over-year rent change: -3.8%, Month-over-month rent change: 0.8%, Median rent: $1,260

    15. Kansas City, Missouri: Year-over-year rent change: -3.5%, Month-over-month rent change: -1.8%, Median rent: $1,090

    16. Albuquerque, New Mexico: Year-over-year rent change: -3.2%, Month-over-month rent change: -3.2%, Median rent: $920