Four cities in Arizona rank in the top 10 for best cities in the country to rent housing, according to a personal finance website.
WalletHub released its study “Best & Worst Places to Rent in America” for 2019 this week, which ranked Scottsdale as the top city in the nation for renters. Other Grand Canyon State cities that made the top 10 were Gilbert (No. 4), Chandler (No. 6), and Peoria (No. 7).
Overland Park, Kan. (No. 2), Bismarck, N.D. (No. 3), Lincoln, Neb. (No. 5), Boise, Idaho (No. 8), El Paso, Texas (No. 9), and Fremont, Cal. (No. 10), rounded out the rest of the top 10.
“Rental prices have soared over the years, jumping 2.7% in the past year alone,” WalleHub said. “And with demand for affordable housing exceeding supply, more than one-quarter of all renters – 11 million people in total – spend more than 50 percent of their income on housing.”
“Like home prices, however, rental rates can vary significantly by region, state or city. And in some places, renting will prove to be more cost-effective and a better overall value than owning,” the website added.
WalletHub examined 182 cities and used 23 measures to rank each city based on rental market and affordability, and quality of life.
Scottsdale received a 64.20 overall score and ranked 63rd for rental market and affordability, and first for quality of life. Gilbert received a 61.93 score, ranking 48th for rental market and affordability, and fifth for quality of life.
Other Arizona cities that make the ranking were Mesa (No. 27), Tempe (No. 30), Glendale (No. 35), Phoenix (No. 41), Tucson (No. 50).
Several Arizona cities also rank highly for first-time home buyers.