With rental prices recently hitting their highest level in two years, the personal-finance website WalletHub today released its report on 2021’s Best & Worst Places to Rent in America, as well as accompanying videos and expert commentary.
To help prospective renters get the most bang for their buck, WalletHub compared more than 180 U.S. cities based on 22 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. Sioux Falls, SD||173. Oakland, CA|
|2. Cedar Rapids, IA||174. Newark, NJ|
|3. Overland Park, KS||175. Stockton, CA|
|4. Fargo, ND||176. Jackson, MS|
|5. Lincoln, NE||177. Cleveland, OH|
|6. Columbia, MD||178. San Bernardino, CA|
|7. Bismarck, ND||179. New Orleans, LA|
|8. El Paso, TX||180. Memphis, TN|
|9. Lewiston, ME||181. Detroit, MI|
|10. Nashua, NH||182. Huntington, WV|
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 15.73 percent, which is 2.5 times lower than in Hialeah, Florida, the city with the lowest at 40.04 percent.
- Little Rock, Arkansas, has the highest rental vacancy rate, 14.00 percent, which is 14 times higher than in Nashua, New Hampshire, the city with the lowest at 1.00 percent.
- Newark, New Jersey, has the highest share of renter-occupied housing units, 77.70 percent, which is 3.4 times higher than in Port St. Lucie, Florida, the city with the lowest at 23.10 percent.
- Brownsville, Texas, has the lowest cost-of-living index, 74, which is 2.7 times lower than in Honolulu and Pearl City, Hawaii, the cities with the highest at 199.
- Irvine, California, has the fewest violent crimes (per 1,000 residents), 0.64, which is 30.7 times fewer than in Detroit, the city with the most at 19.65.
To view the full report and your city’s rank, please visit: https://wallethub.com/edu/best-cities-for-renters/23010