If you have been searching for the ideal city in which to rent a property, many factors may influence your decision. You might be looking for housing close to schools, medical centers, or transportation.
The decision gets even more complicated when we look at additional aspects of the rental market. For example, you may want to find affordable housing in locations with optimal rent control laws. These laws can help to ensure that your rent does not increase too much, too fast. Protections for renters can vary greatly among different places, too. It is important to take these conditions seriously when choosing where to settle down.
Trying to find the right place to live can be a difficult and stressful task, but some cities have better conditions for renters than others. In this article you will learn about five top U.S. cities for tenants and what makes them attractive to those who plan to rent rather than buy. You will be able to make a more informed decision about where to start the next phase of your life.
Table of Contents:
A. Which U.S. locations have rent control laws?
Some of the large cities in the U.S. with rent control laws are San Francisco, New York City, and Washington, D.C.. Landlords who own rental properties in these locations may be constrained by various rules regarding how much they can raise the rent and when.
Several states also have rent control laws, including Oregon, New Jersey, Maryland and California. In Oregon, landlords cannot increase rent by more than 7% plus inflation in 12 months. This applies to buildings that are 15 years old or less and that are not government-subsidized. In California, according to a law that went into effect in 2021, most landlords cannot increase rent by more than 5% per year, plus inflation.
While it is possible to find affordable rent in cities around the country, rent control laws can provide some reassurance that you will continue to be able to afford your rent.
Rent control is not the only factor to consider when looking for a place to live. Many cities have other factors that differentiate them as good places to rent. Let’s take a look at some of the top cities to be a tenant in and exactly what makes them so desirable compared to other cities.
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B. Top 5 cities to live in as a tenant
You want to rent a property in the right location and find housing close to entertainment, shopping centers and schools. Here are some of the best cities for tenants.
1. Lincoln, Nebraska
While not a city that tends to be on most people’s radars, Lincoln, Nebraska, has one of the lowest average rental rates among U.S. cities. The average cost per month for a two-bedroom property is $1,068.
With plenty of parks, the Lincoln location is ideal if you want to get back to nature despite living in a city.
Lincoln may not be the optimal location if you own pets, as only two-thirds of rental properties permit pets. However, this location has many attractions, including museums, galleries and musical performances.
2. New York City, New York
New York City is densely populated but can also be a good city in which to raise a family. More than two-thirds of the educational institutions in New York are ranked within the top 25% nationally in terms of excellence.
With amenities in abundance, New York offers many convenient and entertaining things to do. Museums and parks await you in this city, and despite the extremely high cost of living, it has some of the best rent control laws.
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3. Plano, Texas
This small city in Texas offers plenty of opportunities and enjoyable factors for tenants hoping to live a quieter lifestyle.
Since Texas doesn’t have a state income tax, and the cost of living is relatively low, this location offers you financial advantages. The income-to-rent ratio of 5.62 in Plano reflects how affordable renting properties in this location usually is. Two-bedroom properties cost approximately $1,862 per month to rent.
The location also boasts amenities such as museums, parks, college campuses and public and private schools, and there are also several Fortune 1000 companies in the area.
4. Gilbert, Arizona
If metropolitan cities enthral you, you will appreciate the town of Gilbert, which is located in the Phoenix metropolitan area in Arizona. The number of rental units in Gilbert has increased by 52%, meaning you will find plenty of new apartments. This high supply makes it a favorable location for renters to search for good deals.
Gilbert is a clean town, and the crime rate is low. You can also expect beautiful parks and convenient amenities in this area.
Even though Gilbert is not one of the most affordable places in Arizona, it offers renovated apartments and buildings that are ideal for pet owners.
The average rent for two-bedroom apartments in Gilbert is approximately $1,956 per month.
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5. Raleigh, North Carolina
Raleigh, in North Carolina, is another U.S. city with a low crime rate and an affordable average monthly rent. The average cost to rent a two-bedroom property is approximately $1,525 a month.
You will find three colleges in Raleigh, North Carolina, and plenty of picturesque outdoor spaces. The location is referred to as the City of Oaks, as there are many oak trees, making it an area with attractive natural beauty.
Selecting the perfect U.S. city to live in as a tenant requires considering the city’s amenities and rent control laws. These cities have something special to offer, including amenities or low crime rates. Make sure that before deciding on a location to live that you take all of these factors into consideration in order to make a completely informed decision.
Whether you are looking for a good place to raise a family, affordable housing, or top institutions, always check the locations’ offerings and weigh the pros and cons. Which city will you choose? It’s up to you.
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