A brand new nationwide research evaluating the very best locations to lease in America has decided San Antonio’s rental market apparently leaves a lot to be desired.
WalletHub’s new report, “Greatest & Worst Locations to Hire in America,” analyzed 182 U.S. rental markets based mostly on 21 related metrics, together with the distinction between rental charges and mortgage funds, rental affordability, the native price of residing, job availability, and extra.
Surprisingly, Amarillo was deemed the No. 1 finest Texas metropolis for renters, and it ranked tenth nationally. Sizzling Dallas suburb Plano got here in second place statewide and ranks twelfth for a second yr in a row.
Renters in search of a spot to dwell in Central Texas that balances affordability, comfort, and high quality of life might wish to take a look at residing in Austin, which ranked third place statewide and thirteenth nationally.
The report mentioned San Antonio has the 83rd highest quality of life out of all 182 U.S. cities within the report, and the town ranked seventieth nationally within the “renter market and affordability” class.
San Antonio residents know their metropolis higher than a research ever may, to allow them to determine if the town’s renter market is not as much as par. A separate report discovered the town has one of many fastest-growing renter markets within the nation, and now that native lease costs are declining, issues may be beginning to search for for renters.
WalletHub analyst Chip Lupo mentioned the very best cities for renters supply way more than cheap housing, a superb job market, and leisure actions. For instance, lease costs within the high cities price tenants as little as 15 p.c of their revenue.
“You’ll even have entry to sturdy legal guidelines that shield renters, similar to limiting deposits to solely a month or two of lease,” Lupo added.
Although renting may be more cost effective than proudly owning a property, WalletHub mentioned it is not at all times a better option.
“The proper street to take is dependent upon quite a lot of components, together with a person’s or household’s monetary means and the way properly the native real-estate market is doing,” the report mentioned. “Like house costs, rental charges can fluctuate considerably by area, state or metropolis.”
Different Texas cities that ranked among the many high 100 finest locations to lease in America embrace:
No. 24 – El PasoNo. 34 – Grand PrairieNo. 37 – LaredoNo. 48 – BrownsvilleNo. 49 – ArlingtonNo. 50 – Fort WorthNo. 63 – Corpus ChristiNo. 66 – IrvingNo. 71 – DallasNo. 79 – GarlandNo. 81 – Lubbock
On the backside finish of the rating, Houston ranked as one of many worst cities to lease in America and landed 144th nationally.
