{"id":1004149106,"date":"2016-07-29T05:13:37","date_gmt":"2016-07-29T13:13:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004149106"},"modified":"2020-05-11T23:53:43","modified_gmt":"2020-05-12T07:53:43","slug":"economy-watch-the-best-and-worst-cities-for-renters","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-the-best-and-worst-cities-for-renters\/","title":{"rendered":"Economy Watch: The Best and Worst Cities for Renters"},"content":{"rendered":"<p>By Dees Stribling, Contributing Editor<\/p>\n<p><iframe loading=\"lazy\" src=\"\/\/d2e70e9yced57e.cloudfront.net\/wallethub\/embed\/23010\/geochart-renters.html\" width=\"556\" height=\"347\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<div style=\"width: 556px; font-size: 12px; color: #888;\">Source: <a href=\"https:\/\/wallethub.com\/edu\/best-cities-for-renters\/23010\/\" rel=\"nofollow\">WalletHub<\/a><\/div>\n<p>Only about 10 years ago, the multifamily industry fretted that an ever-increasing number of Americans would abandon the apartment market, spurred to buy residential properties by easy credit and official policy that encouraged homeownership\u2014a lot can happen in a decade. Now the rental market still drives the housing recovery, with more than 36 percent of U.S. households renting in 2015. That&#8217;s the largest share since the late 1960s, when there was a shortage of for-sale housing.<\/p>\n<p>Increasing demand for apartments in the 2010s, without as much of an increase in supply, has put many U.S. renters in a bind. According to a 2016 study by Harvard, \u201cthe number of renters dedicating at least half of their income toward housing hit a record high of 11 million people\u201d as of 2014, &#8220;while another 21.3 million spent at least 30 percent, also a new ceiling.&#8221;<\/p>\n<p>That kind of aggregate number masks a lot of variation among local apartment markets, however. Where are the best and worst markets to be a renter, in terms of price as well as quality of life and other factors? According to a <a href=\"https:\/\/wallethub.com\/edu\/best-cities-for-renters\/23010\/\" rel=\"nofollow\" target=\"_blank\">report released this week by WalletHub<\/a>, an oddly large number of the best places to be a renter are in Arizona: Scottsdale (No. 1), as well as Chandler, Tempe, Gilbert, Peoria, Phoenix and Glendale. The only places in the top 10 not in Arizona are Plano, Texas; Las Vegas; and Tampa, Fla.<\/p>\n<p>The company compared the 150 largest cities based on their rental attractiveness and quality of life. In making such a comparison, it examined each city across 15 key metrics, including market affordability, percentage of households spending over half of their incomes on rent, historical rental-price changes, cost of living, jobs availability and more.<\/p>\n<p>The worse markets to rent, according to WalletHub? Oakland, Calif., is at the bottom, while just above it in descending order are Philadelphia, Detroit, New York and Hialeah, Fla.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Which are the best and worst markets to be a renter, in terms of price as well as quality of life and other factors? <\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21742],"tags":[],"class_list":["post-1004149106","post","type-post","status-publish","format-standard","hentry","category-national","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Economy Watch: The Best and Worst Cities for Renters - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-the-best-and-worst-cities-for-renters\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: The Best and Worst Cities for Renters\" \/>\n<meta property=\"og:description\" content=\"Which are the best and worst markets to be a renter, in terms of price as well as quality of life and other factors?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-the-best-and-worst-cities-for-renters\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-29T13:13:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T07:53:43+00:00\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-the-best-and-worst-cities-for-renters\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/economy-watch-the-best-and-worst-cities-for-renters\/\",\"name\":\"Economy Watch: The Best and Worst Cities for Renters - 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