Current:Home > ScamsAffordability, jobs, nightlife? These cities offer the most (or least) for renters. -Visionary Growth Labs
Affordability, jobs, nightlife? These cities offer the most (or least) for renters.
View
Date:2025-04-23 15:53:22
If expensive home prices have forced you to rent, you should at least get the best renting experience for your money.
About 45 million Americans rent homes with a record high 22.4 million households spending more than 30% of their income on rent and utilities in 2022, according to a study by Harvard University’s Joint Center for Housing Studies.
If you’re forced to spend money on rent, you may want more than just an affordable roof over your head, housing advocates say. You might also want to know that you have tenant law on your side if there’s ever an issue and a great quality of life, including easy public transportation, entertainment and job opportunities.
To find the cities that offer the whole package, ApartmentAdvisor researched 98 cities nationwide to determine the best and worst cities for renters. Raleigh, North Carolina, was the most rent-friendly city, while Akron, Ohio, was the least friendly, it said.
Below is a breakdown of some of ApartmentAdvisor’s findings.
Protect your assets: Best high-yield savings accounts of 2023
What cities are best for renters?
The three most renter-friendly cities, according to ApartmentAdvisor, are:
◾ Raleigh, North Carolina: Raleigh’s one of the fastest-growing cities in the country, but what makes it remarkable is that its pace of building new homes has kept up with demand. It’s not the cheapest place to rent, with the median one-bedroom rent costing $1,263 a month, but rent is decreasing year over year after hitting a pandemic peak in August 2022. The main drawback is that tenant protections aren’t as strong as in some other cities.
◾ Huntsville, Alabama: At $863, Huntsville has one of the lowest monthly median rents for a one-bedroom apartment on the list. Like Raleigh, it has a high number of new residential construction permits and a healthy vacancy rate, but fewer tenant protection laws. Rents are also dropping in Huntsville, making the share of income required to rent well below 30%. Generally, renters should try to spend no more than 30% of their annual gross income on housing.
◾ Oakland, California: Rent control laws, high vacancy rates and a high average number of days on the market for apartment listings give this northern California city a boost. However, with the median one-bedroom rent at $1,941 a month and the median yearly income at $79,304, a lot of your annual gross income (29%) will be spent on housing.
Where the largest rent hikes are:Exclusive: Largest rent increases are in swing states. Will it spell trouble for Biden?
Which cities are the worst for renters?
The least renter-friendly cities are:
◾ Akron, Ohio: Lagging new supply has substantially pushed up rents in the past year. The median cost of a one-bedroom is $750 a month, which is low when compared to some other cities but is high for Akron. A year ago, the median rent there was $700.
◾ El Paso, Texas: El Paso has seen some relief in rent prices in the past year, but it’s still the Texas city with the least new residential construction on ApartmentAdvisor’s list, so availability remains a challenge. The monthly median one-bedroom rent is $831.
◾ Fort Wayne, Indiana: Fort Wayne is another Midwest city that suffers from a lack of new housing supply. The median one-bedroom rent was $888 in June. That’s low when compared to many other U.S. cities, but it’s up from $800 a year ago.
Aside from housing availability and costs, these cities’ “lower desirability scores also pushed them further down in our rankings,” said Lilly Milman, ApartmentAdvisor.com's editor.
Major cities like New York City and Boston also ranked at the bottom, coming in at numbers six and nine, respectively. “These cities rate high for desirability and both have robust landlord-tenant laws on the books, but both are notoriously competitive rental markets with substantial rent growth driving higher rent burden,” Milman said.
Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@usatoday.com and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning.
veryGood! (4221)
Related
- Sonya Massey's father decries possible release of former deputy charged with her death
- Georgia Senate passes bill to revive oversight panel that critics say is aimed at Trump prosecution
- Turn Your Bedroom Into A Cozy Sanctuary With These Home Essentials
- 'Suits' stars reunite in court with Judge Judy for e.l.f. Cosmetics' Super Bowl commercial
- The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
- Diptyque Launches First Ever Bathroom Decor Collection, and We’re Obsessed With Its Chic Aesthetic
- Washington gun shop and its former owner to pay $3 million for selling high-capacity ammo magazines
- Brittany Cartwright Reveals Where She and Stassi Schroeder Stand After Rift
- Grammy nominee Teddy Swims on love, growth and embracing change
- Cough? Sore throat? More schools suggest mildly sick kids attend anyway
Ranking
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- Lyft says drivers will receive at least 70% of rider payments
- Trump immunity claim rejected by appeals court in 2020 election case
- Q&A: Nolan and Villeneuve on ‘Tenet’ returning to theaters and why ‘Dune 2’ will be shown on film
- Cincinnati Bengals quarterback Joe Burrow owns a $3 million Batmobile Tumbler
- 16-year-old suspect in Juneteenth shooting that hurt 6 sent to adult court
- South Carolina wants to resume executions with firing squad and electric chair, says instantaneous or painless death not mandated
- Save 36% on Peter Thomas Roth Retinol That Reduces Fine Lines & Wrinkles While You Sleep
Recommendation
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
Blinken briefs Israeli leaders on cease-fire and hostage talks as war in Gaza enters 5th month
House to vote on GOP's new standalone Israel aid bill
King Charles has cancer and we don’t know what kind. How we talk about it matters.
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Biden plans to hold a March fundraiser with former Presidents Obama and Clinton in New York
What’s next as Trump tries to stave off his 2020 election trial? All eyes are on the Supreme Court
Wisconsin teen pleads no contest in bonfire explosion that burned at least 17