With last year’s rental prices having grown at nearly double the rate of any previous year, the personal-finance website WalletHub released its report on 2022’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. Columbia, MD||173. Augusta, GA|
|2. Overland Park, KS||174. Ontario, CA|
|3. Sioux Falls, SD||175. Vancouver, WA|
|4. Bismarck, ND||176. Shreveport, LA|
|5. Lincoln, NE||177. Columbus, GA|
|6. Chandler, AZ||178. New Orleans, LA|
|7. Scottsdale, AZ||179. Cleveland, OH|
|8. Gilbert, AZ||180. San Bernardino, CA|
|9. El Paso, TX||181. Memphis, TN|
|10. Casper, WY||182. Detroit, MI|
Best vs. Worst
- Cheyenne, Wyoming, has the highest rental affordability, with the lowest median annual gross rent divided by median annual household income at 15.43 percent, which is 2.4 times lower than in Hialeah, Florida, the city with the lowest at 37.74 percent.
- Little Rock, Arkansas, has the highest rental vacancy rate, 12.00 percent, which is 7.5 times higher than in Nashua, New Hampshire and South Burlington, Vermont, the city with the lowest at 1.60 percent.
- Newark, New Jersey, has the highest share of renter-occupied housing units, 76.50 percent, which is 3.6 times higher than in Port St. Lucie, Florida, the city with the lowest at 21.20 percent.
- Brownsville, Texas, has the lowest cost-of-living index, 73, which is 2.7 times lower than in New York, the city with the highest at 195.
- Irvine, California, has the fewest violent crimes (per 1,000 residents), 0.51, which is 46.1 times fewer than in Memphis, the city with the most at 23.52.
To view the full report and your city’s rank, please visit: https://wallethub.com/edu/best-cities-for-renters/23010