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Tue. Jun 25th, 2024

 

Missouri Ranks In The Middle For Affordable Rent With Nearby Overland Park KS Being # 1

All News RSS Feed Front Page News State News Tuesday, July 11th, 2023

Missouri is coming in at the middle again, this time when it comes to the cost of renting a home.

According to WalletHub dot com, they looked at 182 cities across the US and factored in the cost of living, inflation and more to determine which cities were the best and worse for renters.

They say that Kansas City has the highest ranking for the Show Me State, coming in at #71 while St. Louis was 87th and Springfield was 165th.

Be that as it may, the # 1 place for renters is actually nearby Overland Park, Kansas, which is in the KC Metro but outside of Missouri.

It’s followed by Scottsdale Arizona, Bismarck North Dakota, Sioux Falls South Dakota and Chandler Arizona.

 

Here’s the full report:

With rental prices having experienced a 6.2% year-over-year increase last year, the second highest in decades, the personal-finance website WalletHub today released its report on 2023’s Best & Worst Places to Rent in America, as well as expert commentary.To help prospective renters get the most bang for their buck, WalletHub compared more than 180 U.S. cities based on 21 key indicators of rental attractiveness and quality of life. The data set ranges from historical rental-price changes to the cost of living to job availability.

Best Cities for Renters Worst Cities for Renters
1. Overland Park, KS 173. Hialeah, FL
2. Scottsdale, AZ 174. Shreveport, LA
3. Bismarck, ND 175. Huntington, WV
4. Sioux Falls, SD 176. New Orleans, LA
5. Chandler, AZ 177. Chattanooga, TN
6. Fargo, ND 178. Akron, OH
7. Plano, TX 179. Jackson, MS
8. Lincoln, NE 180. Memphis, TN
9. Irvine, CA 181. Cleveland, OH
10. Nashua, NH 182. Detroit, MI

Best vs. Worst

  • Cheyenne, Wyoming, has the highest rental affordability, with the lowest median annual gross rent divided by median annual household income at 15.39 percent. This is 2.4 times lower than in Hialeah, Florida, the city with the lowest at 36.49 percent.
  • Little Rock, Arkansas, has the highest rental vacancy rate, 11.70 percent, which is 10.6 times higher than in Lewiston, Maine, the city with the lowest at 1.10 percent. 
  • Newark, New Jersey, has the highest share of renter-occupied housing units, 76.80 percent, which is 3.9 times higher than in Port St. Lucie, Florida, the city with the lowest at 19.60 percent. 
  • Brownsville, Texas, has the lowest cost-of-living index, 75, which is 2.5 times lower than in Honolulu and Pearl City, Hawaii, the cities with the highest at 184. 
  • Irvine, California, has the fewest violent crimes (per 1,000 residents), 0.51, which is 46.1 times fewer than in Memphis, Tennessee, the city with the most at 23.52.

To view the full report and your city’s rank, please visit: https://wallethub.com/edu/best-cities-for-renters/23010

All News RSS Feed Front Page News State News Tuesday, July 11th, 2023

Reporter John Rogger