The Best and Worst Big Cities for Renters

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Rental prices vary widely across the country. In many cities, these prices are rising rapidly, while others remain low and stable. Based on these changes, Forbes has compiled a list of the best and worst cities to rent in the United States.

They examined the 50 largest cities in the country and the adjacent urban agglomerations. Of course, in some areas, rental prices also vary greatly between the city center and the suburbs. In these cases, Forbes scrutinized Metropolitan Divisions more closely in comparison to the larger Metropolitan Statistical Area. They then analyzed the data from real estate investor Marcus & Millichap according to four criteria:

1) average rent for the last quarter of 2014;

2) the level of vacant space, since more empty units means more choice and, as a rule, better prices;

3) the average share of household income spent on rent; and

4) change in rent for the year.

Based on their findings, here are the five cities with the worst tenants, including average monthly rents, percentage change, and median household income.

Worst tenant markets

  1. San Francisco-San Mateo Redwood City, California Average monthly rent: $ 2,802,% YoY change: 12.8% Median household income: $ 85,087
  2. Oakland-Fremont-Hayward, California Average Monthly Rent: $ 1,815 Annual% Change: 10.5% Median Household Income: $ 76,493
  3. San Jose Sunnyvale Santa Clara, California Average monthly rent: $ 2,291,% YoY change: 11.3% Median household income: $ 93,902
  4. New York County, NY State Average Monthly Rent: $ 3,290,% YoY Change: 3.4% Median Household Income: $ 74,915
  5. Los Angeles-Long Beach Glendale, California Average monthly rent: $ 1,785 Annual rent change for an apartment: 6.4% Average household income: $ 55,135

The top three spots come as little surprise, given that San Francisco and San Jose also recently ranked among the top cities with the fastest growing rents .

In terms of the best cities for tenants, here are the top five:

Top tenant markets

  1. Indianapolis-Carmel, Indiana. Average monthly rent: $ 756% YoY change: 3.3%. Median household income: $ 55,282.
  2. Kansas City, Missouri Average Monthly Rent: $ 793% YoY Change: 2.7% Median Household Income: $ 56,743
  3. Las Vegas Paradise, NV Average monthly rent: $ 767 Annual% change: 3.6% Median household income: $ 52,269
  4. St. Louis, Missouri Average Monthly Rent: $ 809% YoY Change: 4.3% Median Household Income: $ 54,651
  5. Columbus, Ohio Average Monthly Rent: $ 788% YoY Change: 3.3% Median Household Income: $ 55,181

You can see the full listings at the link below, as well as more details on the averages for each city.

Best and Worst Markets for Renters | Forbes

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