8 Most Affordable Rental Markets for Families of Four on the East Coast

Record-high home prices have pushed many U.S. families into the rental market, but even that’s not exactly cheap these days. The average rent in the United States was $1,713 a month as of March 2024, according to RentCafe. That represents about 35% of the nation’s median monthly earnings of $4,953 — above the 30% rent-to-income rule many experts recommend.

Rental prices are especially high in many East Coast metro areas. This applies not only to the usual suspects such as New York City, Boston, Washington, D.C., and Miami — but also to smaller cities like Jersey City, New Jersey; Charleston, South Carolina; and Providence, Rhode Island.

If you’re looking for inexpensive rental markets on the East Coast, you’ll need to point your GPS south. Real estate listing platform Redfin recently examined affordable places to live on the East Coast based partly on rental prices, and the vast majority were in the Southeast.

Here are eight of the most affordable rental markets for families of four on the East Coast, based on Redfin’s analysis as well as rental data from RentCafe. All cities are located in states that border the Atlantic Ocean and offer rents below the national average.

• Average rent: $1,550 a month
• Median household income: $58,349

Baltimore offers plenty to do thanks to its famous harbor and a downtown area filled with shops, museums, historic sites and markets.

• Average rent: $1,511
• Median household income: $60,187

Landmarks here include the Carnegie Museum of Art, Carnegie Museum of Natural History, Phipps Conservatory and Botanical Gardens. Locals also enjoy exploring Market Square (which dates to 1764) and Point State Park.

• Average rent: $1,264
• Median household income: $55,051

Centrally located in North Carolina’s Piedmont region, Greensboro is home to the International Civil Rights Center & Museum, Blandwood Museum, Weatherspoon Art Museum, Greensboro Arboretum and a downtown that features an eclectic mix of shops and restaurants.

• Average rent: $1,499
• Median household income: $64,138

This Atlantic coastal city offers Florida’s famous sunny beaches as well as a vibrant arts/culture scene and plenty of outdoor recreational activities.

• Average rent: $1,483
• Median household income: $59,606

Located just a couple of hours south of Washington, D.C., Richmond is an undersvalued gem known for its historic landmarks, parks, foodie scene and hip Carytown district, where you’ll find unique shops and eateries.

• Average rent: $1,644
• Median household income: $87,544

In addition to its beaches, Virginia Beach offers popular spots such as the Virginia Aquarium & Marine Science Center, Virginia Beach Boardwalk and Back Bay National Wildlife Refuge.

• Average rent: $1,628
• Median household income: $74,070

North Carolina’s biggest city has a vibrant arts scene and emerging culinary scene, along with a diverse mix of center-city neighborhoods that include Fourth Ward, NoDa, South End, Plaza Midwood and Dilworth. Locals also enjoy Freedom Park, the U.S. National Whitewater Center and the Levine Museum of the New South.

• Average rent: $1,577
• Median household income: $78,631

North Carolina’s capital and second-biggest city is located in the famous Triangle area, which is known for its excellent universities, high-tech industry and thriving arts and culinary scenes. Popular spots include the North Carolina Museum of History, William B. Umstead State Park, Warehouse District and Raleigh Farmers Market.