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Housing prices nationwide may be dropping for the first time in years, but not enough to put homeownership back within reach of many Americans. This has put a strain on the rental market, driving up prices, and highlighting the limited supply of this category of housing.
There are certain parts of the country with plenty of homes for rent, but there’s usually a catch—like having high unemployment rates, a shortage of affordable units available, or a lack of amenities, like good schools and clean air. That said, there are some exceptions to that, according to RentCafe’s annual ranking of the best U.S. cities for renters. Here’s what to know about the cities offering the best value and quality of life for renters.
How were these cities ranked?
To come up with these rankings, the team at RentCafe analyzed data for nearly 140 cities, looking at 20 relevant metrics, including cost of living, apartment quality, the local economy, traffic, unemployment rate, air quality, and job growth, among others. You can find more information on the methodology of these rankings here.
The best U.S. cities for renters in 2023
These are the top 20 cities for renters in the United States in 2023, according to RentCafe:
Charleston, SCPlano, TXScottsdale, AZAtlanta, GARaleigh, NCRound Rock, TXAustin, TXCharlotte, NCConroe, TXArlington, VASarasota, FLMarietta, GAGreenville, SCFort Lauderdale, FLDenver, COOrlando, FLJacksonville, FLWestminster, CODenton, TXDurham, NC
As far as the best region for renters, the South comes out on top, as the location of 36 of the top 50 cities on the list. “In addition, it seems as though the common denominator of smaller and larger cities is their high potential for job growth and a generally lower cost of living compared to other places in the U.S,” RentCafe’s report concludes.
