The best value for renting apartments in the U.S. can be found in the Midwest and Southwest.
Columbia, Maryland, a planned community outside Baltimore, ranked first. Markets in Arizona, Texas, Iowa and the Dakotas populate a good chunk of the top 50 rankings.
These markets are in less densely populated states that tend to have more vacancies and cheaper rent prices, although they don't always have the highest rankings for quality of life. For example, fourth-ranked Bismarck, North Dakota, ranked first overall for affordability, but only 157th for quality of life.
Cities in California also appeared in the top rankings, with San Francisco ranked the highest at 14th overall, followed by San Jose, ranked 20th overall. As with these two cities, many California housing markets had high quality of life scores, but their rankings were often undercut by middling or poor rankings for affordability.
Rent affordability continues to be a pressing problem for consumers. Median U.S. rent prices increased by about $300 in the last year, for a total of $2,016 as of June 2022,For the rankings, WalletHub compared the 150 most populated U.S. cities, plus at least two of the most populated cities in each state. The analysis evaluated rental affordability and quality of life across 22 different metrics, using data from sources like the U.S.
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