The Best U.S. Cities to Rent in Right Now

Where are the best cities to rent a home? With home prices soaring, we can certainly understand why renting may be top of mind. Renting comes with a slew of benefits, including offering a more affordable lifestyle for many. Not only can you save yourself from having to make expensive monthly mortgage payments, but you can also give yourself some much-needed flexibility. Renting is ideal for anyone who: a) cannot currently afford to purchase a home; b) does not want to bother with home maintenance and upkeep; c) isn’t ready to commit to living in one place long-term. For those who aren’t looking to be tied down, renting is an excellent alternative to homeownership.

Of course, renting isn’t always the best idea if you live in a location that isn’t renter-friendly. Rental prices vary significantly depending on your location. The ideal place for renters is typically a city with a plethora of rental options – from apartments and townhomes to single-family homes. More rental options usually mean more affordable rental rates. In cities where rental options are limited, and the majority of residents own their homes, potential renters will have a difficult time finding a quality rental at a reasonable price.

So, where are the best cities to rent in the country? WalletHub’s recent study has the answer. The personal finance website compared more than 180 rental markets using 22 key indicators of “rental attractiveness and quality of life.” These indicators included everything from safety ratings and cost of living to vacancy rates and job availability. Several interesting tidbits that the WalletHub study found included:

  • Little Rock, AR had the highest rental vacancy rate.
  • Newark, NJ had the highest share of renter-occupied housing units.
  • Hialeah, FL, Newark, NJ and Miami, FL had the least affordable rentals.
  • Cedar Rapids, IA had the highest rental affordability.
  • Brownsville, TX has the lowest cost of living index score.

Curious where the best cities to rent in the U.S. are located? Here are WalletHub’s 10 best cities to rent a home – along with data from the U.S. Census and AreaVibes.

The 10 best American cities to rent in right now

Sioux Falls, SD

Cedar Rapids, IA

Overland Park, KS

Fargo, ND

Lincoln, NE

Columbia, MD

Bismarck, ND

El Paso, TX

Lewiston, ME

Nashua, NH

Where are the worst cities to rent?

According to WalletHub, here are the 10 worst cities to rent in America (ranked from worst to best).

  1. Huntington, WV
  2. Detroit, MI
  3. Memphis, TN
  4. New Orleans, LA
  5. San Bernardino, CA
  6. Cleveland, OH
  7. Jackson, MS
  8. Stockton, CA
  9. Newark, NJ
  10. Oakland, CA

Need tips for finding a rental?

Want to rent a home in one of these top 10 cities? With a little patience, effort and house hunting help, you’ll be able to find a rental in no time. Here’s are five tips for securing a great rental.

  • Research neighborhoods – Before looking at rentals, do your own research on the various neighborhoods in your city. Consider your work commute, and how far you’re willing to live from your office. Also, consider what it is you want in your neighborhood (think: amenities, social aspects and convenience).
  • Know your needs and budget – Your needs and budget should be top of mind when hunting for a rental. Several things to keep in mind include the number of bedrooms you need, pet policies, outside space and location. If you have children in school, you’ll also need to consider nearby schools. Perhaps the most important consideration is your budget. How much can you reasonably afford to spend every month? Be sure to crunch the numbers before looking at rentals.
  • Use a Realtor – While you don’t always need a Realtor to secure a rental, he or she could be helpful in certain circumstances. For instance, if you’re unfamiliar with a city or neighborhood, you may need to hire a rental broker who knows the area well.
  • Find roommates – If you need roommates to secure a more expensive rental, start your search early on. We recommend asking friends and neighbors if they know anyone in need of a roommate. You may also want to search online marketplaces that connect roommates. Here are several online roommate finders to help you find a roommate fast.
  • Read the lease agreement carefully before signing – Before signing any lease agreement, make sure to read the contract carefully. You may want Realtor and/or lawyer to look over it as well to make sure there’s nothing out of the ordinary written into the lease. Here are 15 questions to ask before signing a lease.

Ready to move

To learn more about these cities, check out our City Profile Report feature, which includes city demographics, real estate, economic makeup, income, education, and residential information. Simply enter the zip code or the state and city of your potential move, and get a free report at the click of a button.

If you think you want to make one of these cities your new home, you may need to hire professionals to handle your relocation. To find a trustworthy moving company, check our extensive network of reputable and reliable movers – all licensed and insured. By choosing a Moving.com mover, you can rest assured that your move will be in good hands.