July 27, 2020
With the COVID-19 pandemic keeping rental prices close to 2019 levels, the personal-finance website WalletHub today released its report on 2020’s Best & Worst Places to Rent in America, as well as accompanying videos.
To help prospective renters get the most bang for their buck, WalletHub compared more than 180 U.S. cities based on 24 key indicators of rental attractiveness and quality of life. The data set ranges from historical rental-price changes to the cost of living to job availability.
Best Cities for Renters Worst Cities for Renters
1. Bismarck, ND 173. Tacoma, WA
2. Lewiston, ME 174. Augusta, GA
3. Lincoln, NE 175. Gulfport, MS
4. Rapid City, SD 176. Jackson, MS
5. Sioux Falls, SD 177. Miami, FL
6. Portland, ME 178. Detroit, MI
7. Cedar Rapids, IA 179. Cleveland, OH
8. Fargo, ND 180. Memphis, TN
9. Fremont, CA 181. Huntington, WV
10. Scottsdale, AZ 182. Hialeah, FL
Best vs. Worst
• Cedar Rapids, Iowa, has the highest rental affordability, with the lowest median annual gross rent divided by median annual household income at 15.24 percent, which is 2.7 times lower than in Hialeah, Florida, with 40.42 percent.
• Little Rock, Arkansas, has the highest rental vacancy rate, 14.30 percent, which is 11 times higher than in Garden Grove, California, the city with the lowest at 1.30 percent.
• Newark, New Jersey, has the highest share of renter-occupied housing units, 77.30 percent, which is 3.3 times higher than in Port St. Lucie, Florida, the city with the lowest at 23.20 percent.
• Brownsville, Texas, has the lowest cost-of-living index, 74, which is 2.7 times lower than in San Francisco, the city with the highest at 197.
• Irvine, California, has the fewest violent crimes (per 1,000 residents), 0.56, which is 35.9 times fewer than in Detroit, the city with the most at 20.08.
To view the full report and your city’s rank, please visit:
https://wallethub.com/edu/best-cities-for-renters/23010/
