With one-bedroom rents reaching all-time highs in cities like New York, Boston, and Miami, many renters are looking for ways to save on rent. One of the most common, although not necessarily the easiest, ways to lower your rent is to get a roommate and move into a two-bedroom apartment.
While RentHop can’t help you choose roommates, we can show you how much you can save by having a roommate in your city. This study examines how much a renter can save by moving from a one-bedroom to a two-bedroom apartment with a roommate across the top 100 U.S. cities. Scroll down to find out how much you can save!
Cities Where a Roommate Saves the Most
1. New York, NY
Rents have skyrocketed in New York in the past year. A one-bedroom unit now asks for, on average, $3,950. Meanwhile, two-bedroom monthly rents average $5,295, which translates to $2,648 per person. In other words, by having a roommate, renters can save $1,303 per month. That’s more than a month’s worth of Sweetgreen lunches!
2. Boston, MA
Boston ranks second based on rental savings by having a roommate. On average, renters can save $1,170 by sharing a two-bedroom apartment with someone instead of staying in a one-bedroom unit.
3. Miami, FL
Miami has risen as one of the most expensive U.S. cities. Currently ranking as the least affordable housing market, renters in Miami will have to spend $2,950 on a one-bedroom apartment. By splitting a home with a roommate, renters can reduce their monthly housing costs to $1,900, saving $1,050 each month on rent.
Seattle claims fourth place as the city where having a roommate saves the most. The median one-bedroom rent is $2,695, while two-bedroom apartments cost $3,295 monthly. Renters in Seattle can save $1,048 per month if they’re willing to share space with a roommate.
5. San Francisco, CA
Despite having moderate rent growth compared to other major U.S. cities in the past year, San Francisco remains one of the most expensive places for renters. A renter would have to spend $3,000 on a one-bedroom apartment. By finding a roommate and moving to a two-bedroom unit, the monthly rent is reduced to $2,048 per person, saving $953 monthly.
Cities Where a Roommate Saves the Least
1. El Paso, TX
El Paso has the least roommate savings among the top 100 cities. Renters in the city can expect to spend $725 on a one-bedroom unit versus $524 per person on a two-bedroom apartment, saving $202 each month.
2. Toledo, OH
Renters in Toledo pay, on average, $630 a month for a one-bedroom apartment, while a two-bedroom unit costs $795. This means that renters looking to save on rent can find a roommate and reduce their monthly housing costs by $233.
3. Lincoln, NE
An average one-bedroom apartment in Lincoln costs $725 a month. By splitting a two-bedroom home with a roommate, renters will only have to pay $480 per person, lowering their monthly rent by $246.
4. Wichita, KS
Wichita is one of the most affordable cities for home buyers in the U.S. For renters, the housing is equally affordable. A one-bedroom apartment averages $650 in monthly rent, and a two-bedroom unit costs $800. Renters can save $250 per month by moving to a two-bedroom home with a roommate.
5. St. Louis, MO
St. Louis ranks fifth based on the amount of rent savings. The median one-bedroom rent is $800, while two-bedroom homes average $1,200 per month. With a roommate, renters in St. Louis can reduce their monthly housing costs by $250.
Other Notable Cities
Austin was one of the fastest-growing cities in the country during the pandemic. The population growth no doubt has put pressure on the housing market. The median one-bedroom rent has jumped over 20% since the pandemic. For Austin renters looking for ways to save on rent, they can find a roommate and lower their monthly rent by $548.
Los Angeles, CA
As the second most populous city in the nation with some of the most expensive rental zip codes, Los Angeles no doubt has some of the highest rents for one-bedroom and two-bedroom homes. Renters on average will have to pay $2,100 for a one-bedroom and $3,195 for a two-bedroom unit. By splitting with a roommate, renters can save $503 a month.
This study examines the monthly rent for a person in a one-bedroom apartment vs. sharing a two-bedroom apartment with a roommate. The median one-bedroom and two-bedroom rents are calculated based on RentHop listings created between August 2022 and January 2023. Only unfurnished units were included in the analysis.