Arizona cities are among the top best places to rent, according to a recent report. With moving season reaching its peak and the median rental price rising 2.8% in the past year, the personal-finance website WalletHub released the 2018’s Best & Worst Places to Rent in America report.
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 cost of living to job market.
|Best Cities for Renters||Worst Cities for Renters|
|1||Scottsdale, AZ||173||Jackson, MS|
|2||Peoria, AZ||174||Hialeah, FL|
|3||Chandler, AZ||175||Providence, RI|
|4||Gilbert, AZ||176||Baltimore, MD|
|5||Fargo, ND||177||Bridgeport, CT|
|6||Bismarck, ND||178||Huntington, WV|
|7||Overland Park, KS||179||New Haven, CT|
|8||Lincoln, NE||180||Cleveland, OH|
|9||Mesa, AZ||181||Memphis, TN|
|10||Tempe, AZ||182||Detroit, MI|
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 15.41 percent, which is 2.7 times lower than in Hialeah, Florida, with 41.65 percent.
- Little Rock, Arkansas, has the highest rental vacancy rate, 16.3 percent, which is 11.6 times higher than in Burlington, Vermont, the city with the lowest at 1.4 percent.
- Newark, New Jersey, has the highest share of renter-occupied housing units, 78.2 percent, which is 3.3 times higher than in Port St. Lucie, Florida, the city with the lowest at 23.7 percent.
- Laredo, Texas, has the lowest cost-of-living index, 77, which is 2.5 times lower than in San Francisco, the city with the highest at 193.
- Irvine, California, has the fewest violent crimes (per 1,000 residents), 0.57, which is 35.9 times fewer than in Detroit, the city with the most at 20.47.