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The Best Cities for Renters in the US: Where to Live for Affordable Housing and Quality of Life
A lot of people dream of living in big cities like New York, Los Angeles, or Washington, D.C. However, the cost of living in these places can often be daunting. Fortunately, there are still places that offer affordable housing options, ample job opportunities, and a healthy physical environment. According to a recent study from RentCafe, most of these areas are located in the South, with Charleston, South Carolina leading the rankings as the best city for renters across metrics that consider both costs and living experience. In fact, nine of the top 10 cities RentCafe ranked are located in the South, including four cities in Texas.
The Metrics Used
RentCafe scored 136 locales using 20 metrics broken down into three categories to determine the best overall places for renters. The categories are cost of living, local economy, and quality of life:While cost of living metrics carried the most weight, the best places for renters in the US perform relatively well across all categories.
The Top 10 Places for Renters in the US
Here’s a list of the top 10 places based on the RentCafe reporCharleston ranked first in the list, with rental apartments costing an average of $1,938 a month, and an average apartment size of 965 square feet, compared to a national average of 897 square feet. Its local economy appears to be doing significantly well, with an unemployment rate of 3.4%, just below the national rate of 3.7%. However, just about 16% of the city’s apartments are situated in top locations based on Yardi Matrix’s definition of the local population's education level, employment and income, as well as attributes like proximity to commercial development and availability of public transportation.Plano, Texas, comes second on the list, with an average rent price of $1,813 per month. Renters in Plano earn an average of $73,930 annually and the apartments in the city are largely well-positioned, with almost 70% situated in the top locations. The city scores well in both the local economy and quality of life categories. Other Texas cities like Round Rock, Austin, and Conroe, secure the 6th, 7th, and 9th spots on the list, respectively, and are known for their low cost of living, with Conroe earning the best housing cost score of all places ranked by RentCafe, and with an average rental cost of just $1,364.
If you're looking for affordable places to rent in the US with ample opportunities for career growth, and high quality of life, the RentCafe report outlines the top 10 cities in the country to consider. The southern US has emerged as a region with several cities that offer more affordable rental options and are great for renters in terms of job growth, quality of life and other metrics.
The RentCafe report on the best cities for renters in the US highlights a trend of affordability and livability in the southern region of the country. For new businesses, this trend could present opportunities for growth and expansion in these cities. With lower costs of living and robust local economies, these locations could be ideal for startup companies looking to establish themselves in a city that offers ample opportunities for growth and development. Additionally, the quality of life metrics in these cities, such as school quality and average commute times, could be a selling point for attracting talent and building a strong team. Overall, the RentCafe report is good news for both renters and businesses, as it highlights promising cities that offer affordable housing and attractive living and working environments. By taking advantage of these opportunities, new businesses could position themselves for success in a thriving community.