Wichita, Kansas is the most affordable U.S. city for single renters, according to new report

As experts predict that home prices will rise in 2024, young professionals with a single income face higher and higher rent prices across the country.

In December, RentHop released its third annual Singles Index ranking the most and least affordable U.S. cities for single renters which calculates the housing burden in the largest cities in the country.

The report ranked the cities using the following statistics:

1. Median non-family household income from the U.S. Census
2. Median advertised prices for the “studio” unit type via RentHop data
3. Year-over-year price changes for the “studio” unit type based on RentHop data
4. Population count by city from the U.S. Census

Wichita, Kansas, ranked as the most affordable city with a median studio rent of $565 per month. With a median nonfamily income of $38,412, a single renter can expect to spend just 17.65% of their annual income on rent, according to RentHop.

Once known as “The Air Capital of the World,” Wichita is the largest city in the state. The Kansas city is also home to Koch Industries, the private conglomerate of Charles and David Koch.

Spirit AeroSystems, one of the world’s largest aerostructure manufacturers, is also based in Wichita.

The city also has three universities, including Wichita State University.

1. Wichita, Kan.
2. Minneapolis, Minn.
3. Colorado Springs, Colo.
4. Seattle, Wash.
5. Columbus, Ohio

Minneapolis, Minnesota, is the No. 2 most affordable city for single renters in the U.S.

The median studio rent is less than $1,000 monthly, so single renters can expect to allocate 20.43% of their annual income to housing costs.

Minneapolis also ranked as the second most friendly city for single female renters, according to RentHop.

Minneapolis is one of the most neighborly cities in the U.S., according to a Neighbor.com report.

The city has one of the lowest unemployment rates in the country and the Minneapolis-St. Paul metro area is…