Small U.S. cities offer highest rental value for 2026

Data from Apartments.com identifies the top 10 small U.S. cities where renters receive the most value based on rent-to-income ratios for 2026. Peoria, Illinois, and Cedar Rapids, Iowa, tied for the most affordable ranking, with residents spending only 9.3% of their median household income on one-bedroom apartments—a figure 40% lower than the national average.

Across the top 10 ranked cities, renters spend an average of 9.9% of their income on one-bedroom units, which is approximately 37% less than the national average of 15.6%. The analysis, which utilized data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD), examined 180 small and mid-size metro areas outside the 30 largest U.S. metropolitan regions.

Despite the current affordability, the report notes rising volatility in the rental market. In five of the top 10 cities, one-bedroom rents increased by more than 8% in a single year. Columbia, Missouri, saw the most significant spike with a 17.3% increase, which is more than double the national rental growth pace of approximately 4%.