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Cedar Rapids, Iowa tops the list for most affordable rental housing while two cities in Florida and one in New Jersey tied for last place, according to a recent report.
Cedar Rapids, Iowa tops the list for most affordable rental housing while Miami, Hialeah, Florida, and Newark, New Jersey tie for last place.
After Cedar Rapids, the other top places for affordable rentals are:
- Casper, Wyoming
- Gulfport, Mississippi
- Winston-Salem, North Carolina
- Augusta, Georgia
The other two places at the bottom of the list are Detroit and New Haven, Connecticut. Following the top places for affordable rentals, WalletHub also ranked cities in accordance with their cost of living. Topping the list for lowest cost of living is Brownsville, Texas. Places following Brownsville are:
- Laredo, Texas
- Amarillo, Texas
- Fort Smith, Arkansas
- Jackson, Mississippi
As for the highest costs of living, there was a six-way tie: New York City; Huntington Beach, Garden Grove and Santa Rosa, all in California; Honolulu; and Pearl City, Hawaii. Another factor renters take into consideration when looking for a place to live is how safe the area is. Topping the list as the most-safe place is Port St. Lucie, Florida. Cities following Port St. Lucie are Santa Clarita and Irvine, California; Gilbert, Arizona; and Cape Coral, Florida.
Ranked at the bottom five least-safe places to live are Little Rock, Arkansas; Memphis; St. Louis; Birmingham, Alabama; and Springfield, Missouri.
Around 44 million American households rent apartments and houses. According to the Apartment List National Rent Report, the 2021 rent increases are affecting virtually every major market in the country. Lower rental prices that were prevalent at the beginning of the pandemic are now over, and rent prices are up over 13% nationally.
To determine the best renters’ markets, WalletHub compared 182 cities, 150 of which were the most populated U.S. cities. It also included a minimum of the two most populated cities in each state. The company also took into consideration market affordability and quality of life when creating the list.
For more information from this report click here.
Andre Claudio is assistant editor of Route Fifty.