Finding the right apartment in the right place is no easy task these days, regardless of where you drop the pin on the map. But what are the best cities for renters in the U.S.?
With the rental season in full swing, the RentCafe research team looked at 140 cities to show which offer the best mix of cost of living & housing, local economy and quality of life. These three key aspects were compiled based on no fewer than 20 metrics.
Our annual ranking of the Best Cities for Renters to Live in 2023 shows that:
Charleston, SC; Plano, TX; Scottsdale, AZ; Atlanta, GA; Raleigh, NC are the top 5 cities where you can enjoy the best life as a renter. More options for new apartments, economic vitality in local communities, life expenses lower than average or even more natural spaces are just a few of the perks that make day-to-day life there better.
1. SOUTHERN CITIES offer the most value for renters’ bucks, claiming 36 of the top 50 spots. Charleston, SC takes the lead, followed closely by Plano, TX, Atlanta, GA and Austin, TX.
What makes the South so appealing? The data shows us that cities here offer a great mix of apartment quality and cost of living that is lower than the national average. Moreover, the vibrant local economies make Southern cities perfect for young professionals.
2. PACIFIC COAST CITIES outshine others in quality of life, with San Francisco ranking 2nd.
However, Scottsdale, AZ, leads the West in the overall ranking. Two Colorado cities that also stand out are Denver and Westminster, both of which scored high in terms of local economy and cost of living and housing, which led to them securing the 41st and 29th nationwide, respectively.
3. THE MIDWEST with it’s 25 cities on the list offer renters a great balance between a relatively low cost of living & housing and quality of life.
In fact, Minneapolis ranks 21st nationwide thanks to a lower-than-average cost of living and a high share of new apartments. At the same time, Ann Arbor ranks 34th, thanks to its scores in local economy and quality of life.
4. In THE NORTHEAST, Stamford, CT stands out with its active lifestyle and top-ranking quality of life. While the cost of living here might not be the most appealing to renters, the other factors offset it.
Delve deeper into the study here: https://www.rentcafe.com/blog/rental-market/market-snapshots/best-places-for-renters-to-live/