What to Know
- WalletHub compared 182 rental markets to determine the best and worst places to rent in the country in 2019
- It turns out that three cities in the tri-state are among the worst for renters, WalletHub’s study found
- WalletHub determined that Scottsdale, Arizona, is the best place to rent in the entire country
Renting isn’t always a cheaper alternative to homeownership.
Like home prices, rental rates vary depending on location. With this in mind, WalletHub looked into where renters can get the “most bang for their buck.”
Using 23 key measures of attractiveness, WalletHub compared 182 rental markets to determine the best and worst places to rent in the country in 2019.
These key measures were used to compile a rental market and affordability rank as well as a quality of life rank, which ultimately determined the overall rank of a city.
It turns out that three cities in the tri-state are among the worst for renters, WalletHub’s study found.
New Jersey’s largest city, Newark, ranked as the overall 10th worst (No. 173 out of 182) due in part to coming in at No. 123 when it comes to its rental market and affordability and No. 168 in quality of life.
Newark’s dismal overall ranking is surpassed by two Connecticut cities, New Haven and Bridgeport, which rank as the worst and second worst places to rent in the United States.
New Haven placed No. 181 out of 182 due to coming in 165th place and 171st place in the rental market and affordability rank, as well as quality of life rank, respectively.
New Haven also appeared in individual categories – coming in third place, behind Newark, New Jersey, for having the least affordable rentals.
WalletHub proclaimed Bridgeport as the worst city for renters in the entire country.
Bridgeport garnered the No. 180 and No. 145 slots in the rental market and affordability rank, as well as quality of life rank, respectively, according to the study.
Additionally, Bridgeport also found its way into individual categories, being among the cities with the highest rent-to-price ratio – which compares rental prices with home prices.
Meanwhile, New York City, which has a reputation for its exuberant rental prices, actually placed midway in the ranking – coming in at No. 99.
So, which city is the best for renters? You won’t find that place in the East Coast, according to the study.
WalletHub determined that Scottsdale, Arizona, is the best place to rent in the entire country.
To learn about the methodology used in the study, or see the complete list, click here.