WalletHub recently published a study comparing more than 180 rental markets based on 22 key measures of attractiveness to generate a list of the best and worst markets for renters.
Arizona dominated the list with eight of the top 20 markets coming in that state. Only two east coast markets—Nashua, N.H. and Lewiston, Maine—cracked the list. (Tampa just missed the cut, ranking 21st in WalletHub’s list of 182 cities.)
The worst markets on the list included markets like Detroit, Memphis, Tenn., Cleveland, Baltimore and Providence, R.I.
Despite notoriously high rents, markets like New York (123) and San Francisco (45) weren’t near the bottom of the list.
To generate its score, each of 22 metrics was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for renters. That was used to generate a weighted average across all metrics.
The firm’s data set ranges from the difference between rental rates and mortgage payments to historical price changes, the cost of living and jobs availability.
The following slideshow features the top 20 markets in WalletHub’s study: https://www.nreionline.com/multifamily/look-wallethub-s-top-20-markets-renters/gallery?slide=1