We have ranked top 10 major American cities to rent on bedroom apartments, condos and town homes based at it’s average monthly tent to pay, change in rent year-over-year basis, first quarter vacancy rate and mortgage payment vs. rent payment.
Here are the list to see which cities offer the best rental opportunities:
No. 1: Tucson, AZ
MSA: Tucson, AZ
Average Monthly Rent: $652
Change in Rent year-over-year: 1.6% increase
First Quarter Vacancy Rate: 5.9%
Mortgage Payment v. Rent Payment: $25 cheaper to rent
No. 2: Jacksonville, FL
MSA: Jacksonville, FL
Average Monthly Rent: $774
Change in Rent year-over-year: 0%
First Quarter Vacancy Rate: 8.6%
Mortgage Payment v. Rent Payment: $98 cheaper to own
No. 3: Kansas City, MO
MSA: Kansas City, MO-KS
Average Monthly Rent: $707
Change in Rent year-over-year: 1.3% increase
First Quarter Vacancy Rate: 5.6%
Mortgage Payment v. Rent Payment: $13 cheaper to rent
No. 4: San Antonio, TX
MSA: San Antonio-New Braunfels, TX
Average Monthly Rent: $725
Change in Rent year-over-year: 2.5% increase
First Quarter Vacancy Rate: 6.7%
Mortgage Payment v. Rent Payment: $244 cheaper to rent
No. 5: Tampa-St. Petersburg, FL
MSA: Tampa-St. Petersburg-Clearwater, FL
Average Monthly Rent: $820
Change in Rent year-over-year: 0.9% increase
First Quarter Vacancy Rate: 5.9%
Mortgage Payment v. Rent Payment: $77 cheaper to own
No. 6: Houston, TX
MSA: Houston-Sugar Land-Baytown, TX
Average Monthly Rent: $789
Change in Rent year-over-year: 2.5% increase
First Quarter Vacancy Rate: 8.1%
Mortgage Payment v. Rent Payment: $217 cheaper to rent
No. 7: Charlotte, NC
MSA: Charlotte-Gastonia-Rock Hill, NC-SC
Average Monthly Rent: $789
Change in Rent year-over-year: 2.2% increase
First Quarter Vacancy Rate: 5.5%
Mortgage Payment v. Rent Payment: $231 cheaper to rent
No. 8: Las Vegas, NV
MSA: Las Vegas-Paradise, NV
Average Monthly Rent: $805
Change in Rent year-over-year: 1.3% increase
First Quarter Vacancy Rate: 7.1%
Mortgage Payment v. Rent Payment: $199 cheaper to own
No. 9: Cincinnati, OH
MSA: Cincinnati-Middletown, OH-KY-IN
Average Monthly Rent: $717
Change in Rent year-over-year: 1.8% increase
First Quarter Vacancy Rate: 4.9%
Mortgage Payment v. Rent Payment: $72 cheaper to own
No. 10: Indianapolis, IN
MSA: Indianapolis-Carmel, IN
Average Monthly Rent: $680
Change in Rent year-over-year: 2.3% increase
First Quarter Vacancy Rate: 5.6%
Mortgage Payment v. Rent Payment: $29 cheaper to own
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