What makes a city great for renters? That depends.
While many factors can be considered in determining whether a city can be called “great” for renters, what truly matters are those features and characteristics of a city that are most important to the person searching for a new home.
Certainly, affordability is key. After all, a city can’t be great for renters if apartments are so expensive that they aren’t affordable. According to credit-reporting company Experian, the general rule of thumb is that renters should spend no more than 30% of their gross monthly income on rent, which means that if you earn $75,000 a year, or $6,250 a month, you should search for an apartment with a monthly rent of no more than $1,875.
But there are a host of factors other than affordability that determine whether a city is great for renters. Does the city have a strong job market, quality medical care and great schools? Does it offer dining, shopping, recreational and cultural opportunities? How’s the weather — can you enjoy the outdoors year-round?
“There’s no one-size-fits-all for a renter,” says Emily McDonald, a spokesperson for Zillow. “It really comes down to what they value most. Every renter is going to have different priorities, and the perfect city for one person might be completely wrong for somebody else.”
With Redfin reporting in December that a third (33.6%) of U.S. renters lived in the same home for at least five years, up from 28.4% a decade ago, choosing the right city to rent in seems more important than ever.
Here are five great cities for renters:
[Read: The 10 Best Apps for Finding Your Next Apartment]
Raleigh
Raleigh, the capital of North Carolina, lures new residents every day. That’s because Raleigh boasts a number of prestigious colleges and universities, a vibrant arts community, a strong local economy and job market and four-season living, with parks and recreational opportunities. Raleigh was named the sixth best place to live in the United States in our 2024-2025 rankings of the Best Places to Live in the U.S. But, despite the influx of new residents, rents in Raleigh are falling, largely due to new apartment construction in the market and competition among apartment owners anxious to attract new residents. That’s good news for prospective renters. According to apartment-listing site Zumper, the median rent in December for a one-bedroom apartment in Raleigh was $1,250, down 3.8% year-over-year. The median rent for a two-bedroom apartment was $1,530, down 1.9% year-over year.
Austin
Located in Central Texas, Austin is the state capital and home to the flagship campus of the University of Texas. It offers residents a mild climate and the ability to enjoy the outdoors year-round. According to the city’s website, Austin has 300 days of sunshine a year and an average temperature of 71 degrees in November. A great city to live, work and play, Austin has vibrant entertainment, dining, cultural and recreational opportunities. The city ranked ninth on our list of the 2024-2025 Best Places to Live. But, despite the popularity of the laid-back city, where many residents come for college and never leave, the construction of new apartment communities has led to an oversupply that has pushed rents down as landlords compete for residents. That creates opportunities for new renters and for those renewing their leases, who may find that they are in a strong bargaining position with their landlords and are able to exact rent concessions to stay where they are. The median rent for a one-bedroom apartment in Austin in December was $1,460, down 2% from a year prior, according to Zumper. The median for a two-bedroom was $1,880, down 3.6% year-over-year.
[Read: The Rise of Built-for-Rent]
Denver
Denver, nicknamed the Mile High City because it is situated exactly one mile (5,280 feet) above sea level, is obviously a great place to live for skiers and outdoor enthusiasts, with its snow-covered peaks and 300 days of sunshine a year. But even those who don’t enjoy winter sports will love its vibrant cultural scene, restaurant and brewery options, and live concerts among the 300-foot red sandstone rock formations at Red Rocks Amphitheatre. While apartment rents in Denver are higher than the national average, new construction has given renters more choices and kept rents in check. Zumper reports that the median rent for a one-bedroom apartment in Denver in December was $1,700, down 3.4% year-over-year, while the median for a two-bedroom was $2,290, down 1.7%. Denver ranked number 40 on our 2024-2025 Best Places to Live list.
San Antonio
Like many other cities, San Antonio has seen a substantial amount of new apartment construction that has increased inventory and reduced asking rents. According to Zumper, the median rent for a one-bedroom apartment was $1,060 in December, down 0.9% from a year earlier, while a two-bedroom apartment was $1,330, down 1.5% year-over-year. But many agree that San Antonio is a great place for renters. The city celebrates its cultural diversity, with celebrations such as Fiesta San Antonio, Día de los Muertos and Juneteenth. It’s renowned for the quaint San Antonio River Walk, the Alamo historic site and its Tex-Mex food, not to mention bustling arts and cultural scenes, and museums. Nicknamed Military City USA, San Antonio also has a large military presence, with Joint Base San Antonio and one of the largest concentrations of active and retired military personnel in the United States.
[READ: How Landlords Can Legally Raise Rent.]
Minneapolis
If you love cold weather, you’ll be right at home in Minneapolis, where normal temperatures range from 12 degrees Fahrenheit in January to 74 degrees Fahrenheit in July, and heavy snow is common. But despite the weather, the city also has a high quality of life and was even ranked the happiest city in the United States last year by London-based research firm the Institute for Quality of Life. While Minneapolis is home to big-city venues, such as museums and sports stadiums, it also has a small-town, Midwestern feel with a cosmopolitan downtown area and vibrant neighborhoods and suburbs. The city has a thriving job market and abundant parks and other recreational opportunities, a cost of living that is 6% lower than the national average, professional sports teams to cheer for and an eclectic culinary scene. Renters, or those renewing their current leases, may find themselves in a strong bargaining position, especially for two-bedroom apartments. Zumper reports that in December, the median rent for a one-bedroom in Minneapolis was $1,320, down 0.8% year-over-year. However, the rent for a two-bedroom unit in December was $1,800, down 10% from a year earlier, due, perhaps to the fact that over 11,000 apartment units were delivered in the past year, nearly double the volume of any other Midwest apartment market.
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5 Great U.S. Cities for Renters originally appeared on usnews.com
