Best & Worst Places To Rent In America

By Adam McCann, WalletHub Financial Writer

Roughly 46 million American households have opted to rent rather than buy their homes because of convenience, cost or both

Homeownership isn’t for everyone. Roughly 46 million American households have opted to rent rather than buy their homes because of convenience, cost or both. But renting isn’t always a cheaper or better alternative to owning a property. The right road to take depends on a variety of factors, including an individual’s or family’s financial means and how well the local real-estate market is doing.

Inflation has continued to influence rental prices, and 2024 saw a 5.1% increase in price year-over-year. On the bright side, mortgage rates continue to trend down. Like home prices, however, rental rates can vary significantly by region, state or city. In some places, renting will prove to be more cost-effective and a better overall value than owning.

To determine where renters can get the most bang for their buck, WalletHub compared more than 180 rental markets based on 21 key measures of rental attractiveness and quality of life. Our data set ranges from the difference between rental rates and mortgage payments to historical price changes, the cost of living and job availability.

In-Depth Look at the Best Places to Rent

Overland Park, KS, is the best place to rent, boasting the highest average home square footage in the country, at 2,809 square feet. It also has the eighth-best rental affordability, with the average person only spending around 17% of their annual income on rent.

In addition, only around 18% of households pay more than 50% of their income for housing, the eighth-lowest share in the country.

Best 20 Places to Rent