The 5 cheapest places to rent in America

If none of the above locations tickles your fancy, here is a list of the best fancy places with not-so-fancy prices:

1. Palm Beach
West Palm Beach renters report average rents are down $29 per month compared to the previous 12 months.

2. Orange County
The O.C. is currently looking at 5 percent vacancy, the lowest it’s been since 2002. And rents only went up 2 percent in the past year, less than the cost of inflation.

3. Las Vegas
Nearly 6,000 of the 2,400 homes listed for sale last month are now being listed as rentals.

4.  Wall Street, NYC
Rent in studios in doorman buildings in the financial district dropped by $503, to $2,559 a month.

5.  St. Petersburg, Fla.
Rents dropped .6 of a percentage point just in the last quarter.

And if you are wondering how to go about finding cheap rentals, here are a few tips:

• Look for “For Rent” signs that have been standing for months.
• Play the landlords against each other. Bring competing advertisements for similar and cheaper apartments in the area and ask the landlord to match it.
• Ask the landlord for more stuff, like health club membership, new carpeting, fresh paint, free gas and electric, and even a free TV.
• Ask for a two- or three-year lease. It will lock in your rate and save you money down the road.
• With a new development, ask for a construction special. Ask the landlord to reduce your rent until the banging and dust settle down.
• Ask the landlord to waive restrictions, like pet and barbecue restrictions.
• Bring your proof of earnings, credit history and letters of reference. It’s your best leverage in negotiating.

If you can’t get yourself a good deal in this market, then you’re never going to be able to get one. Remember, every day these properties lie empty, the owners lose more money. They need you much more than you need them, so get out there and grab yourself a steal!

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