Washington, DC - With family moving season historically peaking in July and the share of U.S. renter households increasing in 2015 to more than 36 percent - the highest since the 1960s - the personal-finance website WalletHub conducted an in-depth analysis of 2016’s Best & Worst Cities for Renters.
To help prospective renters get the most bang for their buck, WalletHub’s analysts compared the 150 largest cities based on their rental attractiveness and quality of life. In making such a comparison, we examined each city across 15 key metrics, ranging from historical rental-price changes to cost of living to jobs availability.
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Best Cities for Renters |
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Worst Cities for Renters |
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1 |
Scottsdale, AZ |
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141 |
Los Angeles, CA |
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2 |
Overland Park, KS |
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142 |
Moreno Valley, CA |
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3 |
Chandler, AZ |
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143 |
Baltimore, MD |
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4 |
Tempe, AZ |
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144 |
Buffalo, NY |
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5 |
Gilbert, AZ |
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145 |
Santa Ana, CA |
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6 |
Plano, TX |
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146 |
Philadelphia, PA |
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7 |
Las Vegas, NV |
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147 |
Detroit, MI |
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8 |
Peoria, AZ |
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148 |
New York, NY |
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9 |
Phoenix, AZ |
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149 |
Hialeah, FL |
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10 |
Tampa, FL |
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150 |
Oakland, CA |
Best vs. Worst
- Gilbert, Ariz., has the highest rental-affordability index, 89.15, which is four times higher than in Hialeah, Fla., the city with the lowest, 23.97.
- Little Rock, Ark., has the highest rental vacancy rate, 17.3 percent, which is seven times higher than in San Jose, Calif., and Portland, Ore., the cities with the lowest, 2.5 percent.
- Newark, N.J., has the highest percentage of renters, 77.7 percent, which is four times higher than in Port St. Lucie, Fla., the city with the lowest, 22.2 percent.
- New York has the highest cost-of-living index, 200, which is three times higher than in Laredo, Texas, the city with the lowest, 75.
- Irvine, Calif., has the lowest number of violent crimes per 1,000 residents, 0.49, which is 40 times higher than in Detroit, the city with the highest, 19.89.
For the full report and to see where your city ranks, please visit:
https://wallethub.com/edu/best-cities-for-renters/23010/