New report shows Arkansas with lowest rent in U.S.

    6:07 PM, Mar 15, 2012   |    comments
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    LITTLE ROCK Ark. (KTHV) -- A recent study by the National Low Income Housing Coalition shows that Arkansas has the cheapest rent in the U.S.

    Saving money is something we all want to do. According to a new survey from the National low income housing coalition-many Arkansas renters like Bobbie Ferguson are doing just that. Ferguson moved here from Brooklyn New York.

    "Well I retired and have family and it's cheaper," Ferguson says.

    Cheaper is right, the coalition shows Arkansas is the cheapest state to rent in the United States. "In New York I had a two bedroom apartment and it was over $1,100 a month and moving here, it's less than half that."

    Lee Ann Potter Manages the Fountain at Chenal apartments and says the prices draw people, but there are also other perks. "I think the amenities the apartment complexes offers has a big benefit over home ownership and it is a whole lot more affordable, housing prices can be pretty rough."

    According to the study in Arkansas the fair market rent for a 2 bedroom apartment is 593 dollars to acquire for this level of rent without paying more than 30 percent of your annual income you MUST make around 24 thousand dollars annually."

    Ferguson says the lower rent allows her to have extra money each month to cover bills and another perk to renting is the benefit of having someone else cover unexpected costs. "If anything breaks you can call and break and get it fixed, if you own a home you have to have a check waiting."

    The property manager says the apartments are usually 95 percent full. She says added amenities like a workout facility, pool and playground equipment helps families save on things like gym memberships.

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