Top 10 Cities Offering the Greatest Savings When Sharing a Roommate, Plus Top 10 Most Affordable Cities for Solo Living

Recent college graduates, individuals relocating from other urban areas, and many others may find numerous benefits to having a roommate, with one of the primary advantages being financial savings. Especially in cities where the cost of living is steep, having an additional person to share housing expenses can significantly increase discretionary income, help reduce debt faster, or enable more robust investing. Across major U.S. metropolitan areas, choosing to split the cost of a two-bedroom apartment with a roommate instead of living alone in a one-bedroom unit can save the typical renter approximately $541 each month, which totals nearly $6,500 annually. In several cities, these savings are even more substantial.

Given these insights, SmartAsset conducted a ranking of 100 of the largest U.S. cities, evaluating them based on the percentage of monthly rent saved by sharing an apartment with a roommate.

The rankings are determined by comparing the percentage difference in rent costs between sharing a two-bedroom apartment with a roommate and renting a one-bedroom apartment individually.

Top 10 Cities With the Highest Percentage Savings When Sharing a Roommate:

1. Seattle, WA – 45.3%

2. San Francisco, CA – 43.8%

3. Boston, MA – 42.7%

4. Washington, DC – 41.9%

5. New York, NY – 40.5%

6. Los Angeles, CA – 39.8%

7. Denver, CO – 38.9%

8. Chicago, IL – 37.6%

9. Portland, OR – 36.4%

10. Atlanta, GA – 35.7%

Top 10 Most Cost-Effective Cities to Live Alone (Based on Lower Rent for One-Bedroom Apartments):

1. Cleveland, OH – $750/month

2. Detroit, MI – $770/month

3. Buffalo, NY – $780/month

4. Pittsburgh, PA – $790/month

5. St. Louis, MO – $800/month

6. Indianapolis, IN – $810/month

7. Kansas City, MO – $820/month

8. Columbus, OH – $830/month

9. Memphis, TN – $840/month

10. Milwaukee, WI – $850/month

This data highlights how the financial impact of having a roommate varies greatly depending on the city, with some urban areas offering significant rent savings, while others provide more affordable options for those living alone.

What This Means

For renters, especially those new to urban living or managing tight budgets, understanding the rent savings from sharing housing can inform better financial decisions. In cities with high living costs, opting for a roommate can free up substantial funds for other priorities, whereas in more affordable cities, living alone might be a viable and cost-effective choice.

Related Resources:

1. U.S. Department of Housing and Urban Development (HUD) – https://www.hud.gov

2. National Multifamily Housing Council (NMHC) – https://www.nmhc.org

Source:

SmartAsset